You have to work for a cause, not for profits. You have to care more about helping others than the amount of assets under management you have. You have to not let fear rule your practice.
I sat there with tears in my eyes as Joseph Jordan, an inspirational speaker and behavioral finance expert, walked off the stage following his emotional, motivating and surprisingly personal keynote address at the 2015 Advisor Network Summit happening now in Las Vegas.
Jordan is not your typical man, nor does he give the typical financial services conference speech. He himself admitted to the latter, claiming that his speech would “not be a pep talk,” as he told the audience.
But what transpired was one of the best pep talks I’ve ever been a part of.
What Your Peers Are Reading
Jordan says that those within the financial services industry (companies and employees) should focus more on a culture that deals with value versus one that deals with prices. He reminded everyone of the sometimes-negative reputation of the insurance and financial services industry and that, though we’re not in control of much in our business and personal lives, one thing we can control is our behavior, which can translate into how we (as an industry) are perceived.
But we have to believe we are helping our clients and making their future better.
“Advisors represent intrinsic value,” Jordan said. “You tell me a profession that solves problems as big as this. You provide people with a worry-free retirement. You can protect their income when they’re sick. But we are not perceived like that.”
So how do we change this?
As Jordan says, we must understand that our beliefs drive our behavior.
“All chronic production issues are behavioral,” Jordan said. “Your behavior. You have to create a culture that celebrates the positive impact you’ve had on existing clients and the potential impact you can have on prospective clients.”
And you need to get motivated and stay motivated.
“I would urge you to go to MDRT,” Jordan said. “How the hell do you outgrow inspiration? Go. And use the Life Foundation. Your whole office has to be committed to a purpose that’s significant and impacts others.”