For young advisors, support contributes to long-term success

A new LIMRA study reveals that the support young advisors receive from their firms at the beginning of their careers in financial services sales greatly contributes to their long-term success.

Today’s advisors face many of the same challenges as their predecessors. Finding leads, asking for referrals and developing skills to run a business are just as difficult today as they’ve always been and no less important. The difference today is that new technology allows the young advisors to tackle these problems in completely new ways.

As companies invest in technology, they’ve begun to use modern approaches that build on the strengths of today’s advisors to address some of the on-going challenges they face. While this is happening for some, many advisors are still on their own in key areas.

Currently, 7 in 10 young advisors use social media for their business and to potentially generate connections, yet more than one third of their companies restrict or prohibit the use of social media. Seventy-eight percent of young advisors rated technology tools as important support, yet more than half of these advisors said they are not receiving enough support in this area.