While the average financial advisor with 10+ years of experience makes nearly triple the median US household income, the caveat to becoming a financial advisor is that most don’t survive their first few years, and the pressure of getting all your own clients (and persuading them to actually pay you for advice!).
In this guest post, first-year financial planner Shawn Tydlaska shares his own survival tips for having gotten through his first year, on track for more than $100,000 of recurring revenue(!), which he achieved in large part by heavily reinvesting in himself throughout the first year. Of course, reinvesting means that Shawn spent more than many advisors do in trying to start their advisory firms on a low budget… yet at the same time, by focusing on reinvesting his income as it came in, he was able to do so while limiting his actual out-of-pocket costs.
Shawn also shares exactly what kinds of conferences and courses he put himself through to accelerate his growth, how he structured his marketing (and what materials he takes into a typical prospect meeting today), what he tracks in his business, how he leverages his study group, and more!
So whether you’ve been thinking about going out on your own as an independent advisor but aren’t certain what to do, or you’re already in your first few year(s) and looking for fresh ideas about how to better focus, or are an experienced advisor and just want some fresh perspective, I hope you find today’s guest post to be helpful!
source https://www.kitces.com/blog/12-tips-survival-first-year-finanical-planner-fee-only-ria/?utm_source=rss&utm_medium=rss&utm_campaign=12-tips-survival-first-year-finanical-planner-fee-only-ria
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