The financial services business is made up of a variety of advisors. Many who started left the business in the first few years, some are struggling to make a steady income and others have achieved a significant level of success.
The definition of success varies for each of us and comes from both business and personal activities and accomplishments. Everyone has the opportunity to reach their full potential in every area, but few feel they actually made it.
During my 34-year membership of the Million Dollar Round Table (MDRT), with two Court of the
Table and 16 Top of the Table qualifications, it is now clear the biggest challenge wasn’t reaching the Top of the Table, but rather staying there. Whether you’re a seasoned advisor or a new agent, you may benefit from these seven success strategies to stay ahead and remain on top of your game.
1. Stay Trustworthy
It’s important to not only build trust with your clients, but with everyone they know. Clients are looking for assurance their life insurance and investments are being monitored by a committed advisor. If clients’ receive exceptional service, in return they will tell their business associates, family and friends how good the relationship with you and your firm has been. This is an effective way to generate prospects and establish credibility.
2. Stay Consistent
It’s key to deliver what you say you’re going to deliver. There has to be serious congruency. When you give clients a specific deadline to deliver a project, time for an appointment or promise to recommend a great pizza place, you must follow through and do what you say you will do.
3. Stay Active
If you are aspiring to reach top producer level, you need to stay active in a financial organization. MDRT is the biggest and most efficient “study group” in the world. It is a place to get to know other financial professionals who have experienced all of the hurdles you could possibly stumble upon and offer guidance. If you take advantage of MDRT’s networking opportunities, you can stay on top of the industry to get ahead of the curve.
4. Stay Balanced
In today’s world of information overload, the use of new technology can be key to help you increase productivity. Many people thought technology would replace face-to-face meetings, and for simpler decisions, email and webinars have been effective. However, when clients are making critical decisions regarding their business and family, nothing takes the place of an in-person meeting with an advisor. You need to strike a balance of using new forms of technology in tandem with traditional communication skills.
5. Stay Prepared
It is always best to plan ahead for the possibility of a client missing an appointment. You can prepare by scheduling appointments similar in time and proximity. In your efforts to stay productive, it’s important to remember to dedicate enough time to give each client the personal attention they deserve.
6. Stay Visible
It is important to volunteer with trade associations, so if you’re focusing on estate planning get involved with your local estate planning council. It’s beneficial to not only become a member, but to sit on the board and work your way through the chairs. You’ll get exposure, build your reputation and develop relationships with people whom you are going to be doing business with throughout the rest of your career.
7. Stay Targeted
You may find speaking at public seminars helpful, but what has worked for me is targeting an industry specific group. Find a local group of CPAs who already have a monthly meeting. Professional trade groups are always looking for educational speakers with interesting topics. It’s an effective way to give substantive information, as long as it doesn’t sound like advertising. These meetings often serve as a great referral source because you will be remembered as the expert on annuities, 401k plans, etc.
We are all capable of being successful – however we define it. The question is – once we reach it, how will we stay on top? This is the true test of what will set you apart from other financial advisors. Perhaps it’s just as simple as doing the things that helped you achieve high performance. However, this information alone won’t sustain success. It’s how you implement and maintain it in your daily and work life. So give it a try and at the next MDRT or TOT meeting, please let me know how it goes.
The definition of success varies for each of us and comes from both business and personal activities and accomplishments. Everyone has the opportunity to reach their full potential in every area, but few feel they actually made it.
During my 34-year membership of the Million Dollar Round Table (MDRT), with two Court of the
Table and 16 Top of the Table qualifications, it is now clear the biggest challenge wasn’t reaching the Top of the Table, but rather staying there. Whether you’re a seasoned advisor or a new agent, you may benefit from these seven success strategies to stay ahead and remain on top of your game.
1. Stay Trustworthy
It’s important to not only build trust with your clients, but with everyone they know. Clients are looking for assurance their life insurance and investments are being monitored by a committed advisor. If clients’ receive exceptional service, in return they will tell their business associates, family and friends how good the relationship with you and your firm has been. This is an effective way to generate prospects and establish credibility.
2. Stay Consistent
It’s key to deliver what you say you’re going to deliver. There has to be serious congruency. When you give clients a specific deadline to deliver a project, time for an appointment or promise to recommend a great pizza place, you must follow through and do what you say you will do.
3. Stay Active
If you are aspiring to reach top producer level, you need to stay active in a financial organization. MDRT is the biggest and most efficient “study group” in the world. It is a place to get to know other financial professionals who have experienced all of the hurdles you could possibly stumble upon and offer guidance. If you take advantage of MDRT’s networking opportunities, you can stay on top of the industry to get ahead of the curve.
4. Stay Balanced
In today’s world of information overload, the use of new technology can be key to help you increase productivity. Many people thought technology would replace face-to-face meetings, and for simpler decisions, email and webinars have been effective. However, when clients are making critical decisions regarding their business and family, nothing takes the place of an in-person meeting with an advisor. You need to strike a balance of using new forms of technology in tandem with traditional communication skills.
5. Stay Prepared
It is always best to plan ahead for the possibility of a client missing an appointment. You can prepare by scheduling appointments similar in time and proximity. In your efforts to stay productive, it’s important to remember to dedicate enough time to give each client the personal attention they deserve.
6. Stay Visible
It is important to volunteer with trade associations, so if you’re focusing on estate planning get involved with your local estate planning council. It’s beneficial to not only become a member, but to sit on the board and work your way through the chairs. You’ll get exposure, build your reputation and develop relationships with people whom you are going to be doing business with throughout the rest of your career.
7. Stay Targeted
You may find speaking at public seminars helpful, but what has worked for me is targeting an industry specific group. Find a local group of CPAs who already have a monthly meeting. Professional trade groups are always looking for educational speakers with interesting topics. It’s an effective way to give substantive information, as long as it doesn’t sound like advertising. These meetings often serve as a great referral source because you will be remembered as the expert on annuities, 401k plans, etc.
We are all capable of being successful – however we define it. The question is – once we reach it, how will we stay on top? This is the true test of what will set you apart from other financial advisors. Perhaps it’s just as simple as doing the things that helped you achieve high performance. However, this information alone won’t sustain success. It’s how you implement and maintain it in your daily and work life. So give it a try and at the next MDRT or TOT meeting, please let me know how it goes.
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