Keys for new advisors

Keys for new advisors

Keys for new advisors In a very grey industry young advisors have a huge opportunity to fill the void as the older generation retires.

There’s no getting away from the fact there are barriers to entry for young advisors, but hard work can go a long way.

“I’m still a young guy, I’m still growing my book,” said Jeff Ber, a wealth advisor at Ber Wealth Management and the winner in the Young Gun category at last years’ WP Awards. “My prime objective is to grow my book and get assets. I try to put as many irons in the fire as possible.”

A good marketing strategy is really important in attracting prospective clients.

“I’m doing marketing; I’m putting on seminars, putting out mail, presentations, calling business owners, building out referral networks. I’m using a bunch of different strategies because you don’t know where the next client or the next prospect is going to come from.

“I think a top down approach to marketing and building relationships is the key to my success because I’ll meet someone that I don’t see any business opportunity but just by networking that person you meet someone else and then you find someone else that has a need.”

Another vital aspect of success for young advisors is finding a mentor.

“I think the biggest thing for me coming into the business was finding a mentor,” says Zac Murphy, an advisor with Younker and Kelly. “It’s definitely had a big impact on my business, just his knowledge and what he brings to the table. As a new advisor, you need a mentor to help guide you through the downtimes in the business, because there will always be downtimes no matter what level you’re at.”

But the first few years is definitely not easy.

“It’s just really about being there and grinding it out the first few years and you have to get into the dirty areas and go where no other advisors want to go or no other advisors want to touch,” says Murphy.

The next issue of WP will be highlighting the young advisors in the industry that are making a difference. Please nominate yourself or a colleague by including the name, email and brief explanation why this advisor should be included in an email to