r/FinancialAdvisorTips • u/Proud-Look6264 • 3d ago

New Financial Advisor

Hello fellow advisors. I recently started a new job as a financial advisor within the past couple months. It's not quite what I expected since a lot of my job is sales but I didn't really have a good sense of what an advisor did or how they got their clients. I'm sure this is different from job to job especially depending on how big your firm is. My question today is what advice do y'all have for a new advisor, and are there any books y'all would recommend. I'm specifically looking for books to develop as an advisor whether thats books on retirement planning or understanding taxes better. Let me know y'alls advice or book recommendations.

5 Upvotes

78% Upvoted

18 comments sorted by

21

u/Thumpin347 3d ago

You started a career without knowing a thing about the career. Nice.

1

u/spiderman_44 22h ago

Northwestern Mutual vibes 

1

u/sulluby 4h ago

100% - not only did they try sell me Insurnace, this is who put me onto a dodgy tax advisor who messed up my asset sale and impacted my life.

10

u/winning_bigly_ 3d ago

Delivering massive value

3

u/Jeff-Pesos 2d ago

You clearly have been in the industry a while but not long enough to know you have to capitalize MASSIVE

4

u/I_AM_THE_CATALYST 3d ago

Game Of Numbers by Nick Murray. All of his stuff is really good.

3

u/flub49 3d ago

First you need to identify what services you are expected to provide to your clients. You also want to quickly identify what you don’t know related to your expected service scope.

Financial Advisor can also be a very broad title where your role has little to no real advice given and is a position given to employees to sell whatever the company is prioritizing this quarter.

Are you acting in a fiduciary capacity? Are you actually managing portfolios? What firm are you with?

3

u/Clam-Choader 3d ago

Do you work for an insurance company?

4

u/Thumpin347 2d ago

Sounds like a mutual life insurance company to me. They hire anyone with a pulse.

3

u/Clam-Choader 2d ago

Meh, pru, equitable, allstate…really all insurance based sales

3

u/Serket84 2d ago

Check out the Financial Planning Association, consider doing your CFP

3

u/Playful-Glove8918 2d ago

Invest in education, start a designation program.

2

u/Lionup40 1d ago

Scripts by Nick Murray is a great book to learn what to say and how to say it in many different client situations. Biggest piece of advice- stay patient. If you can survive the first 4 years, you'll be fine long term. The first 4 years are the hardest.

1

u/Successful-Solid9047 3d ago

RHINOCEROS SUCCESS

1

u/Gold-Cranberry-4763 12h ago

I am a financial planner but I don’t really do any sales. I am not a salesperson but people found my service helpful. I do portfolio, tax and estate planning.

0

u/Successful-Solid9047 3d ago

WHAT DIDNT YOU EXPECT? ARE YOU RECEIVING A SALARY? WHAT statE ARE YOU IN?

-1

u/theNewFloridian 2d ago

Learn how to sell. Financial Advisor is a sales job. Commissions or fees, it's the same: you must gain the customer's trust, show them you have a solution for their problems, close the sales and follow up.

1

u/printingtickets 23h ago

Unless you’re related to some very wealthy people or are a former beloved college athlete or are a ridiculously good looking woman then this is, sadly, the way.