How to Become a More Successful Financial Adviser

Are you a fresh financial adviser starting out on your career but having no idea how to start?Or are you an ambitious financial adviser working very hard each day but just do not seem to achieve a satisfactory result?From my experience and observation, successful financial advisers seem to share some similar characteristics. These common traits of the very top agents in the industry can serve as a guide for amateur advisers, while at the same time provide some insights and suggestions for other agents seeking to improve their results. Read on to find out what are the 5 tips they have got to offer for advisers looking to join their ranks.


  1. Image titled Develop Critical Thinking Skills Step 21
    Plan your Goals and set your Targets.
    • Start first by setting a goal of what you wished to achieve in a year's time.
    • Then break up this goal into smaller short term objectives to serve as milestones which seems easier to achieve and can encourage you along the journey while they are continuously being met.
      • Say for example if you hoped to obtain an annual income of $30,000 from policies sales commissions, you will have to earn $2,500 a month from the sales commissions. Usually this will means needing to close about 5 insurance policies in a month.
      • So how are you able to achieve that? If 1 in 4 prospects in face-to-face meet-up will be willing to purchase a policy from you, you will then have to fix-up 20 appointments with potential prospects in a month.
      • Let's say if 1 in 3 prospects in your cold calls would be willing to meet up with you, you will then have to cold call to 60 prospects in a month, which is also equivalent to cold calling to 3 clients a day if you are working only a 5-day work week. Setting goals and targets serve as a guide to help you plan your schedule and daily tasks list.
    • Try to discipline yourself to follow your planned schedule relentlessly, even though if it seems like it is not producing expected results initially.
  2. Image titled Say Goodbye to Coworkers Step 4
    Network to grow your Client Base. You may want to start from your family members, relatives and friends. They have known you in person for years, and will naturally believe in you and trust that you will be doing a great job for them. When you are attending ex-classmates or ex-colleagues gatherings, re-build the relationships with your long-lost friends. Distribute your name cards and introduce to them what you are doing. There is no need to be shy and afraid. Let people be aware of you and profession, and how you are able to help them with your expertise and financial advice. Attend relevant trade shows, functions and conferences that are related to your industry, and get to know more people of related professions in your industry. You will never know when needs arise when you will require each other's expertise and field of knowledge.
  3. Image titled Get Child Support Step 20
    Project a professional image. Be sure to dress professionally when you are meeting your clients. Make sure your hair is neat and tidy, well-shave and appropriately attired, so as to leave a good first impression. Avoid being sloppy and looked untidy which made him seems insincere and not ready to take up the project.
    • A prospect is more likely to trust an adviser who dress and look presentable, and know that the adviser appreciate and respect the meeting with him. Always be prepared before meeting your clients. Find out a little more about him, such as his age, gender, career and income, single or with a family, smoker or non-smoker, and hopefully what policies had he already purchased.
    • Think of a few options of what he is lacking and will possibly purchase from you. What are the coverage, premiums and returns that he will be getting for each options. And What are the available add-on that he may add for the options. When your client is impressed by the homework that you had done, he will likely be more convinced that you will handle his case in a quality and more professional manner.
  4. Image titled Succeed in Network Marketing Step 10
    Build your expertise through continuous education. Your learning do not stop after you had gotten your adviser licence. Or rather, that marks the beginning of your learning experience in your career.
    • Always have a willingness to learn mentality, and keep yourself updated on news and changes that is related to your industry. Are there new changes to the rules and regulations governing your industry and how things will be working differently now? How will the changes affect you or your clients, and are the changes beneficial or not desirable? Are there new products released in the markets? How have the prices of your competitors' products adjusted as compared to yours?
    • As you build up your knowledge through continuous education, you may then slowly establish yourself as an expert in your industry. Attend talk shows and seminars as a guest speaker and share your knowledge and professional advice to those in need. Submit articles to recognized publications and magazines in your industry. Gain public awareness and recognition as being an expert. It is also advisable to obtain professional certification such as the Chartered Financial Consultant (ChFC) or the Million Dollar Round Table (MDRT) to improve your credentials and demonstrate your expertise in this industry.
  5. Image titled Succeed in Network Marketing Step 11
    Follow-Up with your Customers. It is advisable to follow-up with your existing customers regularly. This include responding immediately to every calls and queries from your clients.
    • Submit your clients' claims promptly and ensure a smooth and painless process for your client. Do send out regular newsletters informing your clients on new updates and changes relevant to your industry. To strengthen good relationship with your clients, you may want to sent out well wishes to them during festive seasons or on their memorable occasions such as birthday and wedding anniversary.
    • Conduct frequent reviews on your clients' financial status at least once every or 2 years. This will give them a top-of-mind awareness about you whenever they or their friends and relatives have a need for your products and services. Do ask for referrals and testimonials from your satisfied customers.

Article Info

Categories: Finance and Business | Business