What You Need to Know
- You might be a complacent financial professional if…
- You’re reading on this on a weekday, in bed, at 10 a.m., and you're healthy.
- You’re reading this while staying off of an office Zoom meeting.
- You sell what you’ve always sold, because, hey, why not.
Every office has at least one: The established agent or advisor who pretends to work. They have plateaued. They make a good enough living they don’t retire or look for other opportunities.
They are the coasting agents.
How did they get this way?
How Can You Spot the Complacent Advisor?
As a newer, driven advisor you have your off days too. The lax behavior you are considering isn’t new. Those habits have been around for years.
1. The complacent advisor doesn’t prospect. They did that when they started. That was enough. They are happy with the size of their client base. They might look for referrals but expect a ringing phone to bring them a prospect presold on doing business.
2. The complacent advisor doesn’t embrace technology. When desktop technology was gaining momentum, I recall an advisor in our office who needed their sales assistant to sign them on each morning and sign them off at night. They didn’t know how to do it, or have an interest in learning.
3. The complacent advisor doesn’t show clients new products. They know what the client wants. They don’t understand the new products anyway. The rationale for not showing these products is the client never voiced an interest. Meanwhile, the client who buys them elsewhere never voiced an interest because they have no idea the advisor’s firm carries them.
4. The complacent advisor doesn’t keep regular office hours. They take long weekends. They come in late and leave early. They don’t tell anyone where they are going. When they do it’s vague, like, “Off to see clients.”
5. The complacent advisor doesn’t interact with newer agents. In one of the offices where I was an advisor, there was an established producer who wouldn’t bother to learn the names of the new people until there were at the firm for a full year. They expected lots of turnover.
6. The complacent advisor doesn’t make many outgoing calls. They sit at their desk and wait for the phone to ring. Who knows what they do with their time?