How having a positive attitude leads to financial success for financial advisors

Motivate to write your Business Plan

We all remember the magic from Peter Pan. With just a sprinkle of pixie dust, and few happy thoughts, you can fly. Well, the business world isn’t exactly like that. Just thinking happy thoughts won’t make your financial advisor practice soar (neither will pixie dust, by the way). Having a positive attitude though can help you take your business to new heights – even if you have to climb to get there.

As a financial advisor, you have to think you can

One of the most important things in thinking positively about your business, is thinking you can do something. It is sort of like that expression, “If you believe you can achieve, and you can do anything.”

Thinking you can do something is the first step in doing it. You’ll never get to the end if you aren’t confident at the beginning. This is a very important idea for any financial advisor trying to achieve financial success.

As a financial advisor, there are going to be many times in your career where you will need to take a leap. Maybe you are going to hire your first junior advisor. Maybe you are going to expand into a new market. Maybe you are going to open a second office. Before you can do any of these things though, you have to have a positive attitude about them. You have to believe you can do them and that they can succeed. Without that, you won’t even take that first step.

Shape the reality of your financial advisor practice

Wouldn’t it be nice, if just thinking in a positive way, could change the business around you? Sounds like that Peter Pan magic, huh? It isn’t though. It’s real life.

1. First, having a positive attitude affects your actions and performance. The better you feel, the better you can do.

As an example of this, imagine you were going to make ten sales calls. What if you thought they all would fail? How do you think those calls would go? You probably wouldn’t do that well.

Imagine though, that you had a positive attitude about those sales calls. Imagine if you were confident and thought you would succeed. What would happen then?

Well, your tone of voice would change. You would come across sounding better. You would also try harder and think differently because you thought you would succeed. This would affect your performance.

If you are interested in learning more about sales and prospecting, I can help. Just contact me and we can talk about it.

2. Second, having a positive attitude affects the performance of those around you. Positive attitudes rub off on people. If you are excited, motivated, and confident about your work, your staff and partners will be too. They will see how you believe in and are striving for success and they will do the same.

3. Third, having a positive attitude impacts your clients. Clients can take their cue from how you come across. If you aren’t sure of yourself or your ability, do you think you clients will be? By thinking and acting positively, your clients will pick up on this and think positively about you and your performance.

Achieving financial success through goals

As a financial advisor striving toward financial success, you will need to set goals. You have to know where you want to go if you have any hope of getting there.  Here’s why you might not be achieving your goals to help you get started with the process.

However you decide to set your goals, a positive attitude is important. It impacts the entire process.

1. First, if you don’t have a positive attitude, you might not set any goals at all. Why reach for something if you don’t think you can get there? You’ll need a positive attitude to take the first step.

2. Second, having a positive attitude helps you stretch your goals. If you aren’t confident in your abilities, you might set low goals. You might decide for instance to set a goal of growing your business 10% in the next year. If you are confident though, and think positively about what you can do, you might aim higher. You might aim for 20% growth or more.

If you are interested in growing your business (and who isn’t?), let me know. Through business coaching I can help take your business to the next level.

3. Third, having a positive attitude helps you as you move toward your goals. Trying to achieve anything is filled with ups and downs. There might be struggles, setbacks, and times where the goal seems very far away. If you don’t have a positive attitude you won’t be able to get through these things. You also won’t be motivated to do the day to day work it takes to get where you want if you don’t believe it adds to something.

Lastly, having a positive attitude helps you reach new levels of achievement. Believing you can succeed can motivate you to reach for new heights. It can motivate you to get to one goal, then the next, then the next. It can motivate you to keep going.


Flying in Peter Pan took two things: pixie dust and happy thoughts. While I can’t say how effective pixie dust is, I can tell you that if you want to fly in terms of the financial success of your business, you’ll need to have a positive attitude. It will help you take that first step, it will shape the reality of the business around you, and it will help you as you set and work toward your goals. It might just be the magic you need to succeed.

What are the influences and motivations of a financial advisor’s target market?

As a financial advisor you need to know your target market. If you don’t know who your potential clients are and their characteristics, how can you find them and win their business? Additionally, if you aren’t focused on a specific group and simply market your business to anyone, you might not be able to reach as many potential clients effectively.

Today we are looking at the influences and motivations of a financial advisor’s target market. The first thing to do is identify your target market. If you’ve been reading my blog the past 14 years, you know that I’m a big proponent of financial advisors having up to three target markets.

If you don’t know where to start, you can read an article to give you the basics. If you need more help you, please contact me. I can provide you with guidance and support on a number of issues, including identifying your target market.

Two key aspects of target markets for financial advisors

Once you’ve identified your target market, there are two key things needed to understand them: 1. what influences them and 2. what motivates them.

1. Target market influences

Potential customers are influenced by many factors. What makes a potential customer consider your firm versus a competing one?

Personal and business referrals

One influence on potential clients when choosing a financial advisor is referrals, both personal and business.

Doing business with a financial advisor can involve a substantial chunk of money, often an entire life’s savings. In addition, potential clients consider the trust factor. Potential clients want an advisor who is reputable and who will meet their needs.

Potential clients find this information from personal and business referrals. They ask their friends and family. They ask their CPA and lawyer. They seek out recommendations from those they trust to find someone they can confide in and have confidence that the advisor is working in their best interest.

Online information

Although people sometimes rely on personal connections when seeking information about a financial advisor, they also look online. They type your name in a search engine and see what comes up.

There a number of things you can do to help your customers find the right information about you online. In particular, you can engage in search engine optimization and reputation management.


Branding is an important influence for your target market. How do customers perceive your business? If you want to be seen as an established business, with a known name, and stability, you need branding. Branding can be complex and is an area where coaching can help.

Affiliation and associations

Another influence on potential clients is the idea of affiliation. You know the expression, “You’re judged by the company you keep.” While this expression is meant to steer a person away from bad company, it is also advice to be in good company.

Potential clients will draw a connection between you and those around you. They will see you like those you are with. Understanding this, you should seek to keep good company.

Good company can come in a number of forms. It could be by affiliating yourself with something your customers like and respect. Have you ever seen luxury brands advertise during golf? One reason for this, is the companies are trying to draw a connection between their brand and the perception of the sport.

Also, you can be part of professional associations. There are different organizations that you can you look into depending on the type of business you have. One might be The National Association of Personal Financial Advisors and another might be the Financial Planning Association. Potential clients may view you more favorably if you are a member of organizations like these.


2. Financial advisor target market motivations

In addition to looking at what influences your target market, you should also consider what motivates them. What do these potential clients want when they seek out a financial advisor?


One thing you have to remember when marketing to potential clients is the standard marketing advice that people don’t buy features, they buy benefits. Clients aren’t concerned with what you can do, rather, they are motivated by how you can benefit their lives.


Another motivation for target markets is value. Value doesn’t mean people are looking for the cheapest service. It means that they want to see enough of a return on what they spend to make the relationship worthwhile.

When thinking about value, it is important to remember that it is more than a client’s return on their investment portfolio versus what they pay your firm. Clients also see value in knowledge, experience, service, personality, and character. Clients are looking for a total package of value.


Another motivator for your target market will be meeting their financial goals. These goals aren’t just money though. They are more substantial. They are buying a home or second home. They are vacations. They are retirement. They are education for their children. Clients are motivated by money and by what they can do with it. They are looking for a financial advisor who can help them meet these goals.


A last important motivator for your target market is how you fit with their lifestyle and personality. For example, do you have a target market that likes you to come to them rather than they go to you? For high net worth clients, they often prefer their advisory team to come to them. Does your business fit with this?

In addition to lifestyle fit, your target market will also have a personality fit. Are they looking for a financial advisor who takes their time and explains things so they can understand everything? Or, would they prefer an advisor who simply handles things and gives them reports? Different target markets are motivated to find different fits for their personalities. You should make sure you fit with the personality and style of your target market.


Identifying a target market and learning about what influences and motivates them can be a detailed but a very rewarding process. By learning about your target market you can better reach them through their influences and better serve them by meeting their motivations. This can help improve and grow your business.

If you’d like to talk about your target market and how you can serve them, please reach out to me.

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