Why NOW is Your Time to Shine

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When I was starting out as a financial advisor in the late 1990s, I was very fortunate to be mentored by a woman with decades of experience in the business. After I moved on to another firm, I realized what I had lost. I was desperate to find systems of support in what was clearly a man’s world.

Any of these situations below sound familiar?

I was almost always the only woman at the table.

I was told that clients wouldn’t want to deal with a woman.

I suspected (and later knew) that I was paid less than my male counterparts.

I watched as men were welcomed into inner circles where they accelerated their learning.

Who, me? Shine? If only I could…

As a female financial advisor, how many times have you thought ‘if only’ I had the support I needed?

If only…

…I was more confident.

…I could better advocate for myself.

…I had started to build my network sooner.

…I could find the right training or guidance to help me navigate this male-dominated field.

I’ve said them all to myself at one point or another!

While the financial services industry is slowly becoming more female-friendly, I’ve learned from experience that investing in the right systems of support matters to your success.

Get real about the support systems you need

How do you know what the “right” systems of support for you are? Depending on your current strengths and weaknesses, it could be anything from:

• a group or community that offers advice and training about the practicalities of building your business.
• a mentor or office “powerbroker” who can show the way and advocate for you.
• a course dedicated to improving your negotiation skills.
• a coach who helps you recalibrate your mindset for greater empowerment.

After getting started in my career, I knew the only way to improve was to take an honest look at what I knew how to do well and what I struggled with most.

I knew I was good with people. I had strong communication and listening skills. I was able to build solid client relationships based on trust, caring, and competence. On the other hand, I routinely got down on myself for not voicing my ideas in staff meetings or speaking up when it came to asking for a promotion or more money.

Because there were so few female financial services professionals back then, I was on my own for the most part. I had to figure out and work through my issues. It made me stronger in the long run, but I admit there were days when I barely held back tears of frustration.

Support as a game-changer

As a female financial advisor today, you thankfully have so many options to get the industry- and gender-specific systems of support you need. While you can benefit from professional connection with groups that include both men and women, women-only support is vital to our success.

Where else do you have space to be vulnerable, ask questions (and get reliable answers), and find strength from shared personal and professional experiences unique to women?

A place like this is especially worthwhile for women in the competitive financial services industry. With this kind of help, you can hone in on more expedient paths to grow your career, whether it’s advancing at your current workplace or starting your own firm. You get access to resources you didn’t have before. You uncover avenues to learn new skills and gain new knowledge.

Most importantly, you learn how to believe in your abilities. Even on the toughest days, you can rely on your systems of support to help you continue to put one foot in front of the other. You learn to not take personally any affronts that may come your way.

Now is the time for strong female leads

Finding the right systems of support to grow your business will be critical in the coming years. Research indicates that:

• Greater numbers of women are gaining financial clout and need help to manage their financial assets.
• Clients – both men and especially women who can feel intimidated by male financial advisors – need our ability to empathize, intuit concerns, and educate, in addition to financial skills.
• Women who need financial services help have more fears associated with investing, from saving enough for retirement to losing everything in the stock market.
• According to a study conducted by Cerulli Associates, 39% of advisors expect to retire over the next 10 years, creating a need for rising professionals to take their place is growing.

The financial services industry is in transition. If you’re just starting out as a female financial advisor or you’re eager to take your career to the next level, this is the perfect time to line up the systems of support that will position you for growth.

While the going has been slow, there is more attention to gender equity in the workplace now than ever before. It’s also been shown that today’s financial services clients want not only expertise but also diversity.

All signs point to the conclusion that as a female financial advisor, this is your time to shine! Find the systems of support you need, make the most of them, and stake your claim in this industry!

Have questions about how you can succeed in your business and accelerate your journey toward reaching your goals? I invite you to learn more about ELEVATE, an exclusive group coaching program specifically designed to help female financial advisors. Start with a no-cost 30-minute consultation to discuss where you are in your career and where you want to go.

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