Consistent growth and learning are essential components of every financial advisor’s career. Embodying this mindset, Jaslyn Ang, a two-year MDRT member from Singapore, shares how a shift from a focus on quantity to quality in her practice helped her achieve a career breakthrough.

Initially adopting a quantity-driven approach, she successfully closed nearly 250 long-term care plans in just a year. However, this success came at a cost. The approach demanded a grueling schedule, working seven days a week with little time for rest and personal life.

"Being self-employed offers the freedom to manage your schedule," Ang acknowledges. "While this is true, I personally feel being in a self-employed line also means having to work extra hard — harder than anyone in the beginning — so you can enjoy and have the freedom you desire upon reaching your goals."

Despite achieving the initial goals she had set for herself, Ang recognized the limitations of her solely quantity-focused approach. This relentless work ethic helped her achieve MDRT in 2022; however, it was not sustainable in the long run, especially with new responsibilities as a mother on the horizon.

From quantity to quality

As managing a demanding career and preparing for a new family member became overwhelming, Ang decided to implement some changes to her practice.

She explains, "To achieve my first MDRT qualification, I adopted a product-focused approach. This focus was instrumental in securing 250 long-term care cases. I strictly focused on selling a single product (e.g., long-term care) to avoid appearing pushy and to respect the needs of my clients. However, I began observing my clients acquiring insurance and investment plans from other advisors. This prompted me to re-evaluate my approach. I realized to fully serve my clients, I needed to offer a broader range of products and services beyond just long-term care."

Surrounded by a conducive learning environment, Ang actively sought out new knowledge and techniques to upgrade her practice, incorporating insights from other advisors and industry experts. One technique that stood out to her was the importance of effective positioning. "Often, we wonder why clients may hesitate to engage with us or invest in our products. Effective positioning, however, serves as a powerful tool to distinguish our offerings in the market and convey their unique value to our target audience," she shares.

Another technique she adopted was a financial planning Excel template shared by a more experienced advisor. The sheet allows her to document clients' cash inflow and outflow effectively, enabling her to gain a deeper understanding of their financial dynamics and offer comprehensive advice. By amalgamating insights and tools from various sources, she tailored and refined her approach, discovering what resonates best with both her and her clients.

"Having a supportive environment is highly beneficial in facilitating one's growth and learning on a daily basis. This journey has underscored the importance of seeking assistance when needed, a lesson I embrace without hesitation," she adds.

Working smarter, not harder

Armed with her newfound knowledge and a revised approach, Ang began conducting thorough financial reviews for all her 250 long-term care clients.

This proved beneficial for her practice. "For example, through just a few appointments with the new tools and strategies I picked up, I was able to close more than 10 cases with a client who was expecting twins. This resulted in securing a $24,000 retirement plan for them, a $12,000 plan for their children's college education, four life insurance plans (one for each spouse and two for their children), a personal accident plan for the entire family and wealth accumulation through their Supplementary Retirement Scheme (SRS) under the [Singapore] government's mandatory social security savings scheme," she shares.

The continuous cycle of learning and growth

By prioritizing quality service alongside her strong product knowledge, Ang was able to achieve her second MDRT qualification. This shift in focus allowed her to direct her efforts more strategically, which in turn, contributed to a better work-life balance. This balance, she realized, stemmed from embracing a continuous learning mindset of "learning, unlearning, and relearning" to adapt to evolving situations and improve herself.

"At first glance, the concept of unlearning might seem counterintuitive, but it's not as daunting as it sounds. In fact, unlearning creates space for more relevant and up-to-date information. By embracing the continuous cycle of learning, unlearning and relearning, we can continuously grow and improve within this industry,” Ang notes.

She emphasizes hard work and commitment as the cornerstones of success. However, to sustain that success, remaining adaptable to change and fostering a balanced approach will also be crucial.

Contact: MDRTeditorial@teamlewis.com

Growing through the cycle of learning, unlearning and relearning