Financial advising can be a highly rewarding and lucrative career. However, it’s also a career with a high rate of burnout. Some of its drawbacks include:
- the ongoing need to build and maintain a client base
- high stress
- keeping up with licenses, certifications, and ongoing education
- needing a self-reliant, strong work ethic (to fight through the burnout)
- building a business for years to gain success
You need to look at the drawbacks when launching any career. It will help you remain realistic and prepare for roadblocks ahead. But don’t get so caught up in the negatives that you miss all there is to be thankful for in your career as a financial advisor.
How does gratitude shape your professional outlook?
Simply put, it’s good to focus on what is good, especially when you are feeling overwhelmed or disappointed by aspects of work. Developing a mindset of gratitude will help ground you and remind you of why you do what you do. Here are a few ideas to get you started:
You Get to Harness Your Passion for Money and Investing:
Not everyone chooses to follow their passions in their career. You get to be an expert on something that you are passionate about, and you get to share it with other people. While this passion can make it harder when things go badly, it also helps you reach a higher satisfaction when you are successful.
You Get to Help Shape the Financial Futures of Your Clients for the Better.
You get to harness your passion for money, saving, and investing into offering meaningful advice to others. Your expertise can act as a long-term financial foundation, helping clients set and reach goals. You can help them build a real financial future, possibly going on for generations.
You Get to Help Clients Stay on Course Through Life Changes:
In addition to getting people to build a financial foundation, you get to help clients weather financial transitions. Periods of transition can be overwhelming and scary for most people. These transitions can include having a child, buying a home, or making plans for retirement.
These may be firsts for your clients, but you can provide a voice of experience. You can lead out with confidence and optimism so that your clients feel excited about the future–not scared of it.
You Get to Make Connections and Make a Difference in Your Community:
Not only do you get to be part of your client’s plans and goals, but you can also help them through their times of difficulty.
Your client’s finances permeate the rest of their lives. You’re not just working with money, you’re working with people. You’re helping them navigate the ups and downs of the market and of changes and challenges in their lives. You also get to be vulnerable and personal in sharing your difficulties as you offer support.
In addition, if you work within a firm, on a team, or have other important professional support within your career, you can be grateful for their help and friendship.
You Get to Shape and Build Your Career:
As a financial advisor, there is unlimited potential for what your career can look like. Whether you start by marketing within a firm or creating an individual business, you will need to build a client base and develop your brand. With time and consistent effort, your hard work will pay off. And you can keep going as far as you want to meet your goals. There are no limits to what you can do.
What’s more, financial advising offers so many different strategies and products to clients. You can develop niche expertise to find a specific client base and build a niche career.
Remember that being a financial advisor is a profession rich with opportunities for professional and personal growth, as well as meaningful connections with others. When you are feeling overwhelmed or having a disappointing day, do what Mom said: count your blessings.
Need help finding your inspiration? As a creator of top financial advisor coaching programs, I can help you learn how to market yourself as a financial advisor. I can provide accountability in helping you reach your most ambitious goals. Contact me today.
The provision of financial advice might be an extremely lucrative and fulfilling profession. Burnout is a serious problem in this line of work. The shortcomings include the ongoing need to build and maintain a clientele, maintain one’s credentials, certificates, and continuous education, as well as a demand that one be self-sufficient and possess a strong work ethic.