| The demand for new Financial Advisors is | | | | the freedom to choose the best financial |
| skyrocketing. As millions of Americans move | | | | products and services from a variety of |
| toward retirement, the financial industry is | | | | carriers. |
| desperately seeking new Advisors. Here is the | | | | |
| fast track to a lucrative and rewarding new | | | | 2. Be independent but don't walk the path |
| career. | | | | alone. You need a system. Join an Independent |
| | | | Marketing Organization. They will, in |
| Free time, flexibility, and excellent | | | | exchange for an override commission from the |
| potential income are waiting for those who | | | | carriers, provide turn-key systems including |
| choose to follow this career path. | | | | advisor training, product access, provider |
| | | | contracts, and assistance with licensing, |
| As with many things, there is a hard way and | | | | marketing, and regulatory compliance. Many |
| an easy way to launch a career as an advisor. | | | | have spent years developing effective and |
| One is a more difficult trail with obstacles | | | | predictable systems to support their network |
| along the way. It begins with an MBA degree | | | | of advisors. |
| in personal finance or economics followed by | | | | |
| intensive study for one or more NASD | | | | 3. Build a professional referral network. |
| examinations to become a registered | | | | Your clients will seek advice on a range of |
| representative. | | | | financial subjects including real estate, |
| | | | taxes, insurance, legal contracts, mortgage |
| Once completed, you'll need to start looking | | | | and consumer finance. Team up with some |
| for an employer and competiton for these | | | | qualified specialists in your vicinity. Refer |
| positions is keen. Despite significant | | | | your clients to them and they will refer |
| competition and regulatory compliance | | | | their clients to you. |
| oversight, you'll build your "assets under | | | | |
| management" in order to satisfy your employer | | | | 4. Don't worry about your sales skills. Many |
| and/or qualify for assistance with expensive | | | | successful advisors are numbers people and |
| advanced certifications. | | | | couldn't sell snow cones in Death Valley. |
| | | | It's all about positioning. The model of all |
| There is, however, an alternate route that | | | | successful business is the same. There is a |
| doesn't involve such life changing career | | | | problem. There is a solution. By positioning |
| moves. | | | | yourself between the two, you have value and |
| | | | people will recognize that value. |
| For the Boomer, a fifty-something with the | | | | |
| life expectancy of a Galapagos sea turtle but | | | | 5. Don't talk about yourself or your |
| with less than two years of income saved for | | | | business. Focus on your prospect/client and |
| retirement, it's no longer about accumulating | | | | ask the right questions. How do you feel |
| a portfolio of assets. It's about the other | | | | about ....? What do you plan to do about |
| three quadrants of his or her balance sheet | | | | ......? If there was a way to ......, would |
| which have gone largely ignored. | | | | you .....? The art of asking questions is |
| | | | critical to your success in attracting new |
| 1. How to get the most sustainable lifetime | | | | clients. |
| income from the existing portfolio of assets. | | | | |
| | | | 6. Keep in communication with your |
| 2. How to eliminate hidden and/or and | | | | prospective clients. It often requires six or |
| unnecessary expenses. | | | | seven exposures to build a successful client |
| | | | relationship. Set up an email system to keep |
| 3. How to eliminate all debt before | | | | them informed of the latest developments in |
| retirement. | | | | your industry. |
| | | | |
| A true financial advisor should address these | | | | 7. Test the water, first. Some new advisors |
| areas of concern and, to do so doesn't | | | | run into difficulty because they get excited |
| require a life changing career experience. | | | | and spend too much money before they start |
| There are new and innovative financial | | | | making money. Keep your start-up expenses |
| products and services which effectively | | | | under $500. At the very least, you'll get a |
| address these issues, but are not securities | | | | low cost financial education that you can |
| and are not regulated by the NASD and SEC. | | | | apply to your own situation. |
| | | | |
| If you're contemplating a lucrative and | | | | We are at the brink of the largest wealth |
| rewarding career as a Financial Advisor, Here | | | | transfer in history. There is a tremendous |
| are some tips to help you down that path. | | | | need for qualified financial advisors to lead |
| | | | this history making generation down the path |
| 1. Be independent. No one financial entity | | | | to financial security. Those that choose this |
| that has all of the right solutions to all of | | | | path will discover a career that offers an |
| the financial problems out there. As an | | | | abundance of personal satisfaction as well as |
| Independent Financial Advisor, you'll have | | | | significant income potential. |