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What does it take to succeed as a financial advisor?

To succeed as a financial advisor you have to think differently.

Progress, on a global scale, moves at a snail’s pace. There are legislations to consider, challenges in accessibility, and the massive divide of diversity. However, while progress is often hampered by various factors such as these and access to markets, a deficit of skills, and affordability, something can be said about the perseverance of humankind.

I’ve always believed that we can overcome just about anything that stands in our way with the right energy, the right mindset, and the right support.

And whether we look at our conversations on our Rethink podcasts or even the Conneqtor initiative as a whole, support is always pertinent to achieve the shifts in the industry that we are currently pursuing. As you know, there is an urgent need for a diverse, competent, and client-centric advisor force representative of its market.

But how do we go about achieving this?

There are two methods: the support of your business by your stakeholders and as importantly, the support of your goals by organizations with aligned interests.

To take these points further, let’s begin with the former.

Support by stakeholders

Financial advisors need to add value, listen, counsel, and coach clients in a way that will enable them to make informed decisions.

We’ve spoken about the need for the human element at length, which you can revisit here. As the industry moves towards multiple digital touchpoints, robo-advice, and Google searches, it becomes pertinent for financial advisors to future-proof their value proposition.

Ultimately, financial advice is a trust relationship that requires a personal and authentic connection between advisor and client – which simply means that regardless of how far the digitalization of financial services may go, one thing that won’t change anytime soon is the personal relationship that you bring to the table.

The World Economic Forum’s (WEF) most recent Future of Jobs report reflects that roles where humans advise, interact, and enable decision-making will retain their advantage and remain stable. However, the ripple effect of automation and the ever-growing pace of technology adoption means that the role of the financial advisor is changing.

To remain relevant, the industry will need to transform from a product-led to a client-centric, advice-led approach, from an exclusive to an inclusive culture, from simply achieving growth to striving for inclusive growth that benefits and enables broader participation in society.

But don’t just take my word for it; you can read more about this here.

Support by organizations

Okay, I cannot contain my excitement any longer!

I shared that particular article for two reasons, one, to highlight the points above, and two, to announce that after months of hard work, I am now able to state that Momentum, a leading financial service organization in South Africa, chose Conneqtor to be part of an industry-benchmarked and world-class Intermediary Coaching program available to all their advisors in the country.

This is truly an honor and something I am very grateful for.

We partner to drive the authentic transformation to create an inclusive financial services industry.

It is so refreshing to see an established company like Momentum prioritize a cutting-edge program to support its large community of advisors.

“The lack of diversity and representation in the financial advice industry is prompting innovative thinking to position and promote advice-led financial services as a desirable and lucratively sustainable career. As a starting point to achieve overall transformation of the industry, effort and resources are needed to support independent financial advice practices.”

Momentum is leading this charge, and I’m thrilled to be part of the positive change they are out to make.

Obtaining a structure of organizational support by such a massive firm assists this vision that I have become a reality.

It is a major leap forward, not just from the lucky financial advisors of South Africa, but for Conneqtor, proving the value of the initiative far from ‘home’.

Conneqtor may have begun by splashing in our American finance pool but is now making waves thousands of miles away – and that, dear reader, is progress on a global scale.

Final Thoughts

Progress and perseverance go hand-in-hand, and it is in our nature, hardwired in our very DNA, to seek out success. You could have a financial advisory ‘side hustle’ or perhaps be managing a multinational financial firm, the need to grow, to achieve more, to harness the full potential that nags at you every day.

To scratch that itch, you must apply that human element that no machine to date can imitate, and you must align yourself with organizations that support your dreams and assist you in reaching your goal.

As quickly and as rapidly as Conneqtor continues to grow, I know that I cannot do this without you, without the support of organizations like Momentum. So take a moment to reach out, to connect.

You will find that Conneqtor can be one of those organizations that have your back.

Contact us today and see the results for yourself.

Here’s to a bright future for us all!

Best Regards,

Derek Notman

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