Have you ever wondered how an advisor became successful, or wanted to plan and set goals for your own career development with someone you respect?
Involvement in a mentoring program provides an opportunity for career exploration and leadership. It’s an experience for an aspirant to see what it takes to succeed in the business and develop meaningful relationships with some of the best minds in the industry. Regrettably, so many are ignoring this valuable opportunity.
Mentoring Program Benefits
Unlike other industries that have a defined path, financial planners have an intricate road ahead. Those who have achieved a supervisory role have the ability to guide aspirants through the business complexities and into a profitable career. Learning the ins and outs from one of the best in financial services can enhance efficiency, productivity and performance. This is a valuable opportunity for an aspirant to get hands-on experience and gain recognition within an organization.
A mentoring program not only helps professionals new to the industry, but can simultaneously build upon existing skills, professional development and new successes for those who serve as mentors. According to the Million Dollar Round Table (MDRT) there is a 14 percent increase in first-year mentors own business production, and a 13 percent increase during the second year. Assisting others on their career path is a rewarding and gratifying experience, which can expose new prospects and markets to further a mentor’s career. Additionally, what begins as a business relationship may also blossom into an equally fulfilling personal friendship.
Mentor for Your Future
Succession plans for advisors are just as important as succession plans for clients. As financial consultants we promise we will be accessible today, tomorrow and in the future. It is our responsibility to train less seasoned agents to follow in our footsteps so clients feel secure they will be in good hands upon their advisor’s departure. The vitality of a financial business depends on its leading producers to serve as inspiration and educate members on the needs of clients. Being a part of a mentoring program is the time to find a successor to continue on your leadership track.
Mentoring is a win-win proposition for the mentor, the aspirant and the agency. MDRT’s past President, Tony Gordon said, “Mentoring is the greatest gift we can give to the industry. Now it’s your turn to mentor or be mentored – take the first step.”
For information about MDRT’s Mentoring Program please visit the MDRT website.