Benjamin Franklin stated, “Tell me and I forget, teach me and I may remember, involve me and I learn.”
The benefits of mentoring and guiding a young Advisor cannot me overstated. We are seeing a paradigm shift in the Financial Services Industry that is just beginning. Before the great Bull Market of 1982, interest rates were double digit and an investor had very limited access to information. Soon we began the 30 plus year reversal of interest rates, the technology age where we now have information overload, discounted commissions, the advent of index funds, ETF’s and intense competition. Now many investors feel that they are experts. Robo Brokers are beginning to crop up. Yet, I firmly believe the competent Advisor will never be replaced as the complexity of wealth issues and the need to control emotions is ever increasing.
At the core of Advisors Ahead’s model is the ability to allow an individual to learn through observation not mistakes. The ability to view these young individuals as assets and as an investment is critical. Not only for an Advisors Practice, but for the client and the viability of the trade. Benjamin Franklin had it right. Involvement is key. We all have had help along the way. The question you must ask your self is, “Do I need help?” Who will help transition me into a more balanced life? Who will help me attract younger clients and help to continue to grow the Practice? Lastly, who will I have to take over the Practice to preserve my legacy? We have the answers at Advisors Ahead. Call us!