I’ve been working with advisors on Business Development since 2004 and have noticed that there are definitely two types of advisors. The Type One financial advisor has no problem with marketing and growing their practice. These financial advisors can pick up the phone and call centers of influence or people they meet at networking events, no problem. Type Two are more modest. They don’t want to bother anyone or don’t want to be seen as too “salesy.” This is the type I LOVE to work with as they need coaching far more than the other type. If you are too modest or humble, it can work against you.
What about you?
Are you a financial advisor who is too modest or humble?
Modesty is defined as being unassuming in the estimation of one’s abilities. It’s a quality that many people value and admire because modesty shows your human side. A humble person connects with others simply because it’s an easy going trait that shows you aren’t putting your ego in front of your work. If you’re reading this because this sounds like you, you probably know that in the workplace, the same principles apply. You get along with almost anybody.
Did you know that being too humble or modest has drawbacks at work? In the life of a financial advisor you thrive by helping others and socializing. However, just because you aren’t filled with pride or demonstrate obnoxious behavior doesn’t mean that you’ll be treated the way you think you should.
Today, we’re going to look at indicators that will show that you’re being too modest at growing your practice. The goal of course is to help you find that perfect balance of displaying pride, while remaining humble so you can keep growing your practice.
1.You’re not Getting Credit for Hard Work
Are clients and centers of influence not seeing the hard working results you achieve as a financial advisor? You might be working silently towards your amazing goals, but you should be vocal about it. Let people know that you consistently do good work with clients and that your firm is growing.
There’s nothing wrong about backing up what you say with concrete results. If you’re too humble, small things you do like showing up 15 minutes early could easily go unnoticed. Think about what you get done by showing up early and reflect on the advantage it gives you. Be vocal by sharing your actions with others.
Because we are unaccustomed to seeing the results of working with a financial advisor due to no testimonials being allowed on advisor websites, we have to think of ways to tell the story of WHY it’s worth it to work with a financial advisor. This can be done through the use of Case Studies.
2.Caring About What Others Think
You might be too modest because you care about what other people in your office or firm are saying about you. However, you know that financial advisors have to do what they think is best. You hear the needs of your clients, but you give them your best advice based on what YOU think is right for them.
There will be clients that look over your expertise or decide to work with somebody else. Reflect on the clients that you do have and appreciate your effort. If you try to avoid confrontation by not saying what you truly think, they won’t see you as authoritative over time.
3.Taking compliments the wrong way
When somebody compliments you or your work, you don’t have to brush it off. You may be thinking it’s a humble act, but growing your practice is all about connecting with people the right way. If somebody compliments you it’s a good idea to thank them and share your experience briefly.
Follow up your thank you by reflecting on what helped you achieve the compliment. Sharing your insight opens up a door to connect with the other person. It also lets them know you have goals and you have taken calculated action to get there. They are more than likely to admire you even more going forward.
4.You’re Comfortable at Work
Knowing that you crush your goals is wonderful, but should you switch it up when you don’t feel a challenge anymore? Absolutely! If you feel too comfortable as a financial advisor, it’s time for a change. Try setting a goal to be a little bolder with your goals. If you set bigger goals and you don’t quite accomplish them, you’ll still achieve more than you would with lowly goals.
For example, I asked my personal trainer to tell me “for real” what it would take to achieve my fitness goals. He said “That depends. How much do you want it?” And I really had to think about that. So I said “HELL YES I WANT IT.” He said “You need to work out 4 days a week.” So that is what I’m doing!
Make goals for yourself such as talking to 3 people a day. It’s your chance to ask questions and share what you know in a conversation rather than outright bragging. It’s okay to talk about your recent accomplishments and work ethic.
Getting out of being modest and humble:
4 Self-Promotion Tips and Growing your Practice
1.Manifest a Positive Self Image
Don’t underestimate the power of manifestation! How could you do this? Make a checklist about your positive qualities. You can also ask other people what positive qualities you possess to get a different perspective. When you think about what makes you so great as a person and as a worker, speak positive affirmations. Some examples are, “ I will OWN my value / I will not let being humble get in the way of my career success” or “ I can overcome any obstacle and my clients respect me for it”.
2.Establish your core values
Your core values help you make decisions when you need them most. It’s a challenging exercise, but reflecting on your values helps you understand where you want to go and how you’ll get to your goals. If you have modest tendencies you may have humility as a core value, but recognize that it can get in your way. You want to be allowed to make mistakes and recover. In the work place, take note of your value and wear it on your shoulder.
A sure way of getting people to recognize your effort at work is to make positive compliments about others. Always make people feel important by bringing them up and focusing on their positive qualities. We like to reciprocate as humans, so when you promote others, they are likely to do the same to you.
Sooner or later, the whole office will be sharing mutual positive thoughts about you. Your results will be amplified before you know it!
4.Share your expertise with others
If you know you’re an expert in specific areas, there is goodwill in talking about your expertise. In fact, it’s better to serve as a mentor to others and sharing your expertise than it is to remain silent. Inspire your co-workers and educate your clients whenever they need help. You might surprise others with your knowledge if you’ve been working silently over the last few years.
This can also result in more business for you. If you’re the CFP practitioner in the office, then be the expert in Financial Planning. Those that only focus on Investment Management may seek you out. The same goes for Retirement Income Planning. If you have your RICP, do a lunch and learn about how income planning is beneficial for clients.
Being too modest or humble as a financial advisor could have negative consequences over time. It’s okay to make conversation by shedding your own light on your work and accomplishments. When you talk about yourself more, people will take notice easily after you tell them about yourself. Too much of anything is never good, which still applies to humbleness. I hope you grow your practice by finding your perfect balance of modesty and pride.