For the advisors who don’t know me yet, I’d like to share with you why I started this training company, Seven Figure Firm.
- I started in the industry in 1989 at a time when there virtually were no mentors. We were given a few weeks of sales and product training and then sent into the trenches to basically sink or swim. Unfortunately, over the years, it seems little has changed; the attrition rate for advisors is just as high as it was 30 years ago. Most who have survived describe themselves as “Financial Advisors” and have created what they refer to as “practices.” Their practices are totally dependent upon them. They don’t really have a “business”- they basically just bought themselves a job with a friendly boss.
- To that end, most advisors don’t have any idea what life could look like if they were able to transform their financial services “practice” to having a self-managed business.
- Like many of you, I started out with nothing, so I think I can relate to what you may be going through. As a struggling advisor, I remember what it was like working 7 days a week, burning out and wondering if it was all worth it. I didn’t take a day off or a vacation for the first 7 years! In complete frustration, I decided to join a coaching program and it was great…but there was something missing.
- Each quarter when I went to my coaching program, I came home with a “blueprint,” similar to the blueprint when you build a house. It just so happens I was building a house at the time and I had a decorator who kept saying: “Erin, I can see the finished house in my mind’s eye.” I would look at her and say: “Emily, that’s great because I can’t see anything.” And that’s how I felt about my business. I had a 90 day plan but I had no vision for what the end game looked like.