Good mindsets to cultivate for sustaining a thriving career in financial services

The dynamic world of financial services offers incredible opportunities to build rewarding relationships and help people achieve their financial goals. But on the flipside, it can also be very demanding. Long hours, a competitive environment and unforeseen challenges are all part of the profession. However, by cultivating the right mindsets, financial advisors can stay motivated and thrive in the long run.

Focusing on what you can control 

Life often throws things our way that are simply out of our control. Instead of dwelling on them, channel your focus on the aspects you can influence, such as your effort, attitude and actions. This empowers you to take ownership of your career trajectory.  

As Lee Jue Rong, a 19-year MDRT member with 11 Court of the Table and four Top of the Table qualifications, emphasizes, "[Always] hold yourself accountable. Don't pass the blame onto others or external circumstances [when things do not go the way you intend them to]. View failures as opportunities to learn and grow; use your mistakes as a chance to improve and do better next time." This proactive approach allows you to transform setbacks into stepping stones for growth. 

Beyond accountability, a proactive approach means taking steps to influence outcomes favorably. For Lee, one such technique she utilizes is wearing a ‘power suit’ when feeling low. This outfit holds meaning for her as she had successfully closed three deals in a day while wearing it. By anchoring this association of success with the suit, it empowers her to change her state of mind and boost her confidence whenever she puts it on.  

Similarly, identifying your own ‘power suit’ (for example, an item, routine, or mantra) could help you approach challenging situations with greater focus and optimism. 

Embracing the journey is as important as the destination  

In the pursuit of success, it is easy to overlook the smaller milestones along the way. Take time to celebrate the small victories and everyday moments that help you grow as an advisor and individual. Whether it is sticking to a new prospecting strategy or consistently exceeding your daily call quota, acknowledge your progress. This fuels your journey with a sense of accomplishment and motivation. 

Daniel Heng, AEPP, IBFQ, a three-year MDRT member with two Court of the Table qualifications, reminds us that the journey itself is valuable — and the process of setting and pursuing goals can be as fulfilling as achieving them.  

To help with the goal setting process, he recommends using vision boards. "They serve as tangible reminders of aspirations and anchor [your] journey with purpose. These visual representations provide constant inspiration, [and should remind] you of the "why" behind your daily actions,” he shares. 

But more importantly, goals need a deeper connection. "Emotionally resonant goals drive relentless pursuit," adds Heng. Understanding the "why" behind your goals embeds them with greater meaning and will fuel more disciplined commitment toward achieving them.  

Here are some probing questions to help uncover your motivations: 

• What kind of impact do I want to make with my career?
• Who will benefit from my success?
• How will achieving my goals improve my life and the lives of others?

By taking the time to answer these questions and crafting goals that resonate with your core values, you can better align your passion and purpose with your career.  

Always look at the bigger picture 

Financial success is a natural aspiration for most advisors, but overfocusing on sales targets can lead to burnout and disconnect from other important aspects of life.  

Augustine Seah, a nine-year MDRT member with three Court of the Table qualifications, understands this well. During the initial years in his career, he experienced burnout juggling a demanding career, family responsibilities, and pursuing a part-time degree. Being introduced to the MDRT Whole Person concept sparked him to re-evaluate his priorities.  

Learning from his experience, he now emphasizes a more holistic approach, both professionally and personally. He devised a technique to create a more well-rounded approach where he rates various aspects — finance, marketing, operations, human resources, public relations and sales — of his business on a scale of one to ten. This assessment helps identify areas requiring more attention, allowing him to prioritize and create a comprehensive development plan that fosters long-term success. “When you break it down to a flow, you’ll start to look at it more holistically. For example, if you rate yourself as a six for one aspect, think about how do you get it to seven? If every aspect improves by just one point, your business would have improved by 60% as a whole,” he shares. The same approach can apply to your personal life, such as your relationships with your spouse, family, children, and so on.  

It is important to build a lifestyle where your professional success complements, rather than detracts from, your personal well-being. A thriving career in financial services is a journey, not a destination. By continuously learning and adapting your mindset, you can achieve long-term success and fulfillment. 

 

Contact: MDRTeditorial@teamlewis.com