Practice and professional development should take place throughout a successful financial professional’s career. Effective development is an ongoing learning process that starts from the moment one becomes a financial professional and continues until the execution of a succession plan.
End-to-end development is the self-realization that one doesn’t need to sit in a classroom to learn something; development also happens while interacting with clients, prospecting and networking with peers. It’s critical to invest in one’s practice in the following ways:
? championing the idea of “;
? building “centers of influence”; and
? taking ownership of one’s own development.
This combination will help financial professionals who serve clients in the advanced markets do what they do best: focus on what’s important to clients and position themselves as advocates for clients, the industry and their peers.
Interest, Access and Ability
For a financial professional to be successful in advanced markets, it’s essential to have “interest, access and ability:”
? Interest–the innate drive to grow and develop your practice in the advanced markets.
? Access–the ability to uncover and tap into professional resources, networks, referral sources and prospects.
? Ability–the skills necessary to successfully serve affluent individuals and business owners in all aspects of an advanced markets case.
One can argue that these three elements are necessary in general, but in advanced markets they are critical to success. For example, you may have had the opportunity to work on a case wherein the client was a recent lottery winner.
As a financial professional, you may be well-versed in the issues that can arise in such an advanced markets situation. But a case like this may also engender tax and legal issues beyond your expertise.