9 tips for financial advisors to be passionate about what they do

passion for financial advisors

As a financial advisor, it can be difficult to always be passionate, inspired, and motivated, about your career. Many days it seems like most of your time is spent staring at numbers on a screen, staring at your calendar, or preparing financial reviews for your clients.

Well, if you’ve felt your work life has been uneventful for a while, and that your role is becoming monotonous and repetitive, then you’re not alone – millions of people feel this way at various stages in their career, and not just in the financial advisory industry.

The good news is: it doesn’t have to be this way. Passion can come from anywhere, and more often than not, it’s a change in mind-set that’s needed to re-spark that feeling of excitement about your place in the financial advisory field.

So, here are 9 simple tips to help you reclaim your working mojo and allow you to rediscover your passion as financial advisor:

1.Read some inspiring (and relevant) literature

There are a multitude of incredible books on the topic of financial advising, such as The Million-Dollar Financial Advisor, and Storyselling for Financial Advisors to name just a few of the many literary options available, which can enable you to learn more about your niche in the financial world. One of my favorites is actually The Supernova Advisor – I feel that this book helps advisors focus on client service, which is what it’s all about in this industry.

You can also try reading a number of different blogs, either in the financial industry, or blogs by writers who focus on postivie psychology. You may need to re-think your sales and marketing ideas, so searching for articles or blogs in the marketing arena can help.

Not only will these blogs and books inspire you to follow in the footsteps of some of the most successful financial advisors of recent times, but they’ll provide insight into how you can spice up your career with new advising techniques and strategies. If you learn something new, or consider your job as a financial advisor through the eyes of someone else, it can help to shift your perspective, and allow you to re-cultivate your passion.

2.Remember that your financial planning work has an impact on people

And you have the ability to use this power every single day. Smart financial advice can improve and change lives; sometimes that’s easy to forget, since helping clients with their finances is just a part of our regular working day.

Depending on how well you advise your clients, you can provide people with a sense of safety and security when it comes to their finances. You know, helping them sleep soundly at night. Money – though many of us don’t like to admit it – is one of the most important components in our lives. It ensures we have food, and somewhere to live, as well as allowing us to provide for our children – and your role as a client’s financial advisor is to make sure that these things stay protected.

3.Distance yourself from negative people

Whether it’s in your personal life, or your work life, ensuring that you’re surrounded by positive people who make you feel inspired and happy is one of the keys to uncovering your own passion. If you’re surrounded by people who hate their job – and who complain and moan about it often – this attitude will inevitably leak into your psyche.

On the other hand, if you spend time with other financial advisors – or other people in different roles within your workplace – who are passionate and positive about their work, this will, likewise, seep into your sub-conscious. The caveat ‘you are the average of your friends’ isn’t so well-known for nothing, and this applies to our outlook on work.

4.Consider switching companies or going independent

If your current position as a financial advisor is within a bank, an insurance company, or even in an independent broker / dealer, has become monotonous – and it’s been this way for quite some time – it might be time to head down a different path and go independent. Especially, if you’ve tried the rest of the tips on this list and nothing seems to drag you out of the work slump you’re in.

Choosing to change companies, becoming an independent financial advisor, starting your own financial advising business – or even simply relocating to a different branch within the same company – can do worlds of good for your sense of inspiration, and can help you to revitalize your passion for financial advising. If no other approach works, a change of scenery, colleagues and clients is likely to do the trick.

5.Consider taking a break

If it seems like nothing you do in your working life is helping to ignite your passion for financial planning, then it might be time to take a step back, relax, and gain a new perspective on your life by traveling out of town for a little thought or business planning.

Though our travel options are limited right now (2020), in-country travel breaks are likely to become possible again within the next few months. More than a time to enjoy yourself, a holiday break – whether it’s one, two, or three weeks away from your job – can give you a new perspective on your work, that you just won’t be able to get while you’re stuck in the middle of it. Plus, burnout is real. Everyone should take breaks when they need to, without having to feel guilty about it.

This can free up headspace for new ideas, new excitement, and new strategies. Give it a try!

6.Do some pro-bono work

One of the most common reasons to feel disenfranchised and disillusioned with your career, is feeling like the work that you’re doing isn’t meaningful. So, one thing that might help you to rediscover your passion, is to use your skills as a financial advisor to give back to the world, and to your local community.

There are opportunities within the Financial Planning Association for pro bono work and also as a volunteer board member with FPA.

There are always going to be pro bono cases to work on, and not enough financial advisors willing to handle them, so you’ll be spoilt for choice when picking which clients’ lives you’ll be changing for the better with your financial advice.

Make sure to choose pro bono work which means the most to you, and which you find the most meaningful, while taking pride from the fact that – without your advice, there are people who never would have been able to get the crucial advice they need to handle their finances effectively. More than a short-term fix for pro bono cases, good financial planning advice can help people to make changes that will improve their finances for the rest of their lives – that’s powerful.

7.Think about the big bucks

Most of us are motivated by money – and this is almost a taboo to admit in the world today. Yet, a lot of us aren’t just motivated by money for money’s sake, but by the fact that it’s a quantifiable representation of our success in the field that we’re in. More than this, it allows us more opportunities for freedom and leisure, and allows us to plan for our future (particularly, retirement) – if you can’t find passion in your work right now, find passion in the future that being a successful financial advisor will allow you to have.

Take Suze Orman for example: with an estimate net worth between $10-30 million dollars, most of her wealth comes from ventures associated with financial advising, as she gradually built up her various channels of income – appearing on TV, owning businesses, and writing books about money, have all allowed her to reap in the dollar. I haven’t always liked her, but I admire her business sense.

8.Open up new avenues in your career

Countless financial investors have carved out diverse and exciting careers for themselves, by not sticking to the status quo. Using their background as financial advisors, in an independent company or in a bank, many choose to educate others through blog posts, publishing books, or appearing on television.

If you aren’t feeling your most passionate in the current role you’re in, there are a multitude of other channels through which you can still advise people on their finances, and which you might realize you’re more passionate about. For example, you might find an unparalleled love for writing, so you could opt to pursue financial journalism, or build your own blog – as a hobby, or as something more.

9.Attend seminars or events for financial advisors

There are a whole host of ways in which attending niche events for financial advisors can help to encourage your passion to flourish.

For one, seminars and intellectual events will keep you informed about methods of financial advising, which can help you to change up your usual methods – after all, variety is the spice of life.

Secondly – along the same lines as surrounding yourself with positive people in your typical working day – attending events with people excited to learn more about financial advising, and who have a positive attitude towards their career, is likely to have a knock-on positive effect to your own attitude. Positivity is infectious.

More than this, you’ll get to meet a ton of financial advisors from totally different backgrounds and different levels of experience. This means that – most likely – you’re going to meet people who are more successful than you. In other words, people who inspire you, and a career to aspire to.

So, if you find your passion for financial advising dwindling, and you’ve been clueless as to how to get that spark back, try these 9 simple tips to unleash your passion for the field. In no time, your rekindled passion will allow you to be the best financial advisor that you can possibly be – for your clients, and most importantly, for yourself.

About Suzanne Muusers