How do financial advisors survive the first year?

Written By Steven J. Wilson

"Delivering the knowledge you need to succeed."

For financial advisors to survive the first year, they need to be able to sell themselves.

When you first break into the industry, you don’t have credibility, and no one knows who you are.

So it’s essential to be able to sell yourself, your methodologies, and your services.

The first year is always the hardest, but if you can make it through that initial period, you’ll be in good shape to build a successful career.

What to do to increase your chances of success

Here are a few tips to help you survive the first year as a financial advisor:

Get comfortable with selling yourself

One of the most important things you need to do in the first year is to get comfortable with selling yourself.

You need to be able to articulate why someone should work with you and what sets you apart from the competition.

If you’re not comfortable selling yourself, then it’s going to be very difficult to build a successful career.

Build your people skills

Another essential thing to do in the first year is to work on your people skills.

You need to be able to build relationships and connect with people.

If you’re not good at interacting with others, then it’s going to be very difficult to build a successful career.

Start networking as soon as possible

Waiting until you pass your CFP exam is a huge mistake.

You should start networking as soon as possible.

The sooner you start building relationships, the better off you’ll be since it can take up to two years to build a strong network.

Get involved with your local community

Another great way to survive the first year is to get involved with your local community.

This will help you meet new people and get your name out there.

When it comes to people’s finances, they will need to know like and trust.

If you can start building these relationships before you even start working with clients, it will give you a big head start.

Get a mentor

Learning from people who have been in the trenches and have made it through the first year is a great way to increase your chances of success.

Find someone who has been successful and ask them for advice.

Most people are happy to help those who are just starting out.

If you’re generous with your time and willing to help them grow their business, they will be more likely to invest in you.

Following these tips can increase your chances of surviving the first year as a financial advisor.

Additional articles on this topic

How Do Financial Advisors Get Clients

Where do financial advisors find prospects?

How many clients do financial advisors need?

Are financial advisors in high demand?

What percentage of financial advisors are successful?