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Industry Spotlight > Broker Dealers

How to tackle the advisor victim mentality

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Do you feel like a victim?

As an advisor, that mentality is a lot more common than you may think. Between compliance trying to prevent us from doing all we can for clients or our practices, and the Labor Department trying to make our lives difficult with fresh fiduciary legislation, it can be all too easy for advisors to feel unjustly persecuted.

Related: 8 ways advisors can manage sales stress

Maybe the stress is a branch manager who hasn’t tried a new idea in 20 years, or other advisors trying to steal our clients away. The list of things that could drive an advisor crazy might also include:

        • A stock market filled with irrational exuberance;
        • Broker Dealer’s and Product companies cutting payouts and commissions; and
        • Clients who don’t appreciate what we do and don’t refer like they should.

I know these stresses and anxieties are real, even though they’re not often talked about in our industry. And they have far-reaching impact, including higher rates of illness and divorce among advisors than the broader population.

Here’s the good news: If you’re feeling this type of job-driven pressure, you are not alone. All agents and advisors feel like that at times, regardless of our production level. 

Winning the corner office doesn’t make these issues go away. Sometimes it makes them worse.

So I’m calling on financial advisers and insurance agents to speak out about the stress, fear, anxiety and frustrations that can go hand-in-hand with our work. Sharing these feelings with colleagues can prevent them from becoming overwhelming, and help foster solutions.

Click here if you would like to be part of a free video conference in which agents and advisors brainstorm ways to address stress and anxiety in our business. Space is limited.

See also:

Advising the advisor: Part 1 (stress is a problem)

5 signs of financial stress [infographic]

What stresses out advisors most?

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