The game is changing…for you as an advisor, for your clients, and for those you want to do business with. Your potential as an advisor isn’t a sole function of size portfolio you have under management. Your potential is rooted in your ability to manage yourself and your relationships with those around you. Executive coaching holds financial advisors accountable for improvements in these key areas:
• Efficiency: Elite advisors spend more time working “on the business” than they do working “in the business.” Your coach will help you optimize your business development process and operations by identifying which activities you need to attend to versus those can delegate or even automate.
• Relationships: Do you know what your relationship style is and are you building meaningful connections with prospects? Today’s financial advisor isn’t solely managing money; he or she is managing relationships. Executive coaching helps advisors develop a meaningful process for building trust and value-laden relationships with prospects and clients.
• Adaptation: Yesterday’s ideal client was a baby boomer with a sizeable portfolio and estate. And, yesterday’s high net worth individuals either inherited it, or worked over decades to amass it. Today’s prized clients are new entrants into the realms of the highly affluent; picture an early-30’s professional who launched a game-changing app and sold it for millions. Executive coaching helps advisors assess the needs of new market segments and adapt their advising style accordingly.
• Focus: Can you define what success means to you as a financial advisor? Is your goal linked to compensation or to another specific result in your business? An Executive Coach will take steps to translate your vision into actions, habits and results. A process of facilitated self-discovery positions you to leverage your strengths for new levels of performance.
Today’s investors aren’t looking to be told what to do; they crave collaboration and relatability. They demand transparency and an individualized approach that doesn’t always fit the traditional financial advising model. As the game changes, advisors have to ask if the skills that got them to their current position are the same skills that will get them to the next level. Chances are, they’re not.
Executive coaches position advisors to reach new levels of productivity and profitability by mastering the biggest variable in the performance equation: You.
