Connect with us

Human Performance

The 7 Traits of Highly Successful Financial Advisors


The 7 Traits of Highly Successful Financial Advisors

Highly successful financial advisors do things differently than their less successful peers.  Tap into what they do differently in these 7 traits.

Trait #1: Goal Clarity

Highly successful financial advisors set SMART goals: Goals that are Specific, Measurable, Attainable, Relevant, and Time-bound. If you only take away one habit from these seven let it be goal clarity! You can set goals in all aspects of your life: career, personal finance, family, physical, public service, or even artistic. Goals allow you to visualize your desires and create a path, which if followed, will lead to success. Setting goals, as well as the activities you need to complete to achieve your goals, is one of the greatest skills you will ever learn. It will positively impact every aspect of your life, both business and personal.

Trait #2: Focus

Once you have your goals in place the next step is to focus. Focus can be defined as: following one course until successful.

Write it down. Write down the top five tasks you need to get done every day before you leave the office then review the tasks again the next morning. Refresh and repeat.

Create a daily schedule. Having a routine and a schedule will help you stay on task and prevent you from getting distracted.

Identify distractions and remove them. Whether it is the telephone, Facebook updates, or email notices, you need to identify the biggest culprits that hinder your focus and then remove or minimize them.

Related: Insights on Marketing to the Affluent

Trait #3: Blueprint

Your business blueprint is your strategy for moving forward into the future. Your blueprint is your road map to grow your business while enhancing your life. A properly designed blueprint will include three components. Your inner game – this is your foundation. Your inner game includes your Worth Barometer, setting goals, and creating a mission and visionYour game plan – this is your strategy. This should be a concise plan with big picture goals, your niche market, and marketing strategies. And finally your outer game – the daily action required to achieve your goals.

Trait #4: Niche Market

Highly successful financial advisors understand that targeting a niche market is absolutely critical to reaching the upper echelons of success. No financial advisor can be all things to all people. Taking the time to identify your ideal niche market is one of the most valuable uses of your time. Once you identify your ideal clients, then you need to research the market to ensure it is truly ideal.  The goal of your research is to learn as much as you possibly can about your niche market. You need to understand exactly what your niche market wants, what they need, and how YOU can best provide for them.

Trait #5: HVFDAs & IPAs

Successful consultants and advisors spend the vast majority of their time completing HVFDA’s (high value fixed daily activities) and IPA’s (income producing activities). Low and average producers do activities that make them feel busy and productive.  They fail at completing the most important tasks that will improve their bottom line. The majority of your day should consist of HVFDA’s. LVFDA’s (low value fixed daily activities) should be either eliminated or delegated to support staff. As the leader, you need to seek out opportunities that allow you to find a new client, make the extra sale, or expand our business.

Trait #6: Thinking Outside the Box

Creative thinking requires you to seek out and isolate all the assumptions pertaining to a situation. An effective method for this practice includes quiet time without outside distractions.  When you become clear on what you want, your mind opens up. You also see opportunities you would have never noticed in our normal everyday lives.

Related: Are You Really Attracting Ideal Clients?

Trait #7: Passion

Passion is critical to achieving success because it is the motivating factor that drives you to do the tasks you don’t feel like doing; but that are critical to achieving your goal. It also ignites your inner energy and enlivens your soul. So make sure and include some passion in your quest for success!

Before you get back to your day, write down the necessary changes you need to make to join the elite group of highly successful financial advisors. Then carve out time within the next few weeks to make those necessary changes a reality.

This article originally appeared on

Continue Reading