The Financial Professional's Dilemma--Selling vs. Helping

Published: Nov. 27, 2019, 3 p.m.

b'Show Notes:\\nSome of my young advisor friends find themselves in the first 3-5 years of business asking the question...\\nCan I sell and help?\\nI\'m here to tell you that there are some definite things you can put in place to avoid the financial professional\'s dilemma. Wanting to help people, but also the need to provide for your financial needs can present this dilemma.\\nHow do you bridge that seemingly wide gap in motives?\\n\\nUnderstand you will need a "True" North. First and foremost, you must remain true to yourself at all times. This means that money, fame, success at any level will only amplify who you already are. If you\'re a good person with a good heart, then all those things will only make you better...however the reverse is true.Pro tip: This is why I highly advocate all my coaching clients to have a morning routine that centers you and helps you affirm the reasons why you do what you do (whatever that is). Having a True North will help you stay true to you.\\n Understand that receiving compensation = "Thank you". Practically speaking...being compensated for selling a product or selling advice is just token of appreciation. I heard this concept from Rabbi Daniel Lapin and it was really eye-opening for me. You see all of us come from different money stories and depending on how you were raised you may view money as something other than a tool. It is not in of itself good or bad\\u2014it is can only be those things based on who is using it. So if you provide someone with a solution to a problem and they compensate you with money for doing that then you have earned the right to it and you should be proud of what you\'ve done because you\'ve helped them solve a problem.\\n Understand that you need "margin" or runway. Be prepared to "weather the storm" of this industry. Understand what you are getting into. Don\'t start in this business if it means that if you don\'t get any clients that you won\'t be able to provide for yourself or your family financially. It will take some time for people to trust you with their money regardless of how good your advice is. Be prepared for that and have some savings because it may take you a while to ramp up your income.Quick Question...Where do you fall on this continuum? Do you think you would have a conflict between selling or helping? Let me know down in the comments.\\nThanks for listening, reading and watching.\\nAre you a current or aspiring financial professional? Click here to learn more about how I\'m helping you jumpstart your career!\\nWant to connect with me? Send me a DM on Linkedin (@dhendersonsr) or Instagram (@dominiquehendersonsr).\\n\\n--- \\n\\nSend in a voice message: https://anchor.fm/dom-the-maven/message'