Re-Thinking Resolutions
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The custom of making New Year’s resolutions has been around for 4,000 years. Promises to do more, do better, be healthier… We make them. We break them.
One survey found that the average resolution lasts just 3.74 months. In fact, abandoning New Year’s resolutions weeks after setting them has become so prevalent that the media has unofficially dubbed the second Friday in January “National Quitter’s Day.”
So why even make resolutions?
Because setting an intention for positive change is a good practice, even if you don’t follow through. It can be motivating, energizing, encourage a fresh start, and lead to a healthy dose of self-reflection.
With this in mind, we’re tossing some ideas into the mix. Resolutions, goals, habits—call them what you like. We challenge you to commit to at least one in 2024.
2024 Resolutions for Advisors
1. Be human
In the world of numbers and portfolios, never forget the power of human connection. Embrace your authenticity and connect with your clients on a personal level. People value genuine interactions, so ditch the robotic script and create an environment where clients feel comfortable sharing their financial goals and concerns.
2. Stay up to date on trends
Clients appreciate advisors who are in sync with the changing dynamics of the market. Keep up with trends but be wary of being influenced by talking heads and being paralyzed by multiple viewpoints. Sift through information and selectively utilize what benefits you and your clients.
3. Find or define your niche
Specialization is the key to standing out in a crowded market. Identify your unique strengths and interests and carve out a niche for yourself. Whether it's faith-based investing, serving a particular client segment (i.e. real estate professionals), or tech-savvy solutions, becoming an expert in a specific area not only sets you apart but also attracts clients who value your specialized expertise.
4. Look for ways to enhance your clients’ experience
Don’t make every client touch point about their portfolio. Make it about them – birthdays, anniversaries, retirement parties, or other special occasions are great reasons to connect. Planning for life and retirement goals is about much more than just numbers.
5. Learn something new
Continuous learning is not just a cliché. It's a strategy for success. Whether it's acquiring knowledge about emerging markets, new investment products, or refining your communication skills, staying curious and expanding your skill set ensures you're always equipped to provide innovative solutions to your clients.
6. Practice humility
No one has all the answers. Admit when you don't know something, seek input from others, and be open to learning from both successes and failures. Humility not only fosters a collaborative environment but also demonstrates your commitment to growth and improvement.
7. Invest in yourself
Commit to a daily routine that enhances your physical, mental, and/or emotional health. Cultivating your own well-being is a strategic investment that pays dividends in both personal and professional realms.
8. Collaborate with others
Two heads are often better than one. Engage with colleagues, industry peers, and experts to share insights, best practices, and collectively tackle challenges. Collaboration not only broadens your perspective but also opens doors to potential partnerships, expanding your reach and expertise.
Cheers to a year of positive change, growth, and success! You have our confidence and we have your back. We’re only a phone call away and here to help.