Investing in Yourself

INVESTING IN YOURSELF: BENEFITS OF PROFESSIONAL DEVELOPMENT AND CONTINUING EDUCATION AS A FINANCIAL ADVISOR

By Christian Nwasike,Principal & Executive Managing Partner, PMC-LLC

It is no secret that most clients like to know that their financial advisor takes time to update his/her skills through continuing education and additional industry certifications. As a financial advisor, achieving success in your practice and staying up to date with changing industry regulations is paramount!

Next is taking the time to clearly explain your education, licenses, and certifications to a prospect or client and how those licenses and certifications give you a unique perspective into a client's financial situation. Those extra minutes and comments about you could be what sets you apart from the competition!

Once, during a High Net Worth (HNW) client on-boarding meeting, I asked why I was selected to manage the family's assets? There was a crowded field to win over the client including his advisor of 10 years. Among several answers he offered were my education and professional qualifications. Curious about this response, I pressed for an explanation. The client answered saying, "I appreciate being kept up to date on new licenses and certifications you earn. It makes me feel like you're learning new ways to manage my money. It's good to know continued learning is important to you as my advisor." I was blown away by his response, but I took it to heart.

Therefore, professional development and continuing education are more than just on-the-job training. It encompasses all aspects of personal and professional growth including strategy and communication. Simply put, continued professional development is a differentiator between a good financial advisor and a GREAT financial advisor.

Being a former advisor, I know how easy it is to get too busy to learn. We make excuses, suggesting "now" is "not a good time," but consider these four benefits of investing in yourself through your professional development.

Benefits of Investing in Yourself

·     It helps you grow personally (self-awareness).

·     It helps those you touch (empathy).

·     It helps your career (professional growth).

·     It helps your business (revenue growth).

Where's the Return On Investment (ROI)?

According to HR magazine, a $1,500 investment in professional development training returns as much as 24% higher revenue growth! At PMC-LLC, we have seen a financial advisor grow as much as 300% in one year from a mere $2,500 coaching investment.

This year, 2021, is your year to go from good to GREAT. Take the chance. Invest in yourself and start to stand out in the crowd.