If you’re new to the industry, there’s no better way to get a leg up in the business than by learning from experienced advisors.
The financial advisors at your firm have done it all before, says Jak Pullen, an Edmonton-based investment advisor with RBC Dominion Securities Inc. Taking advantage of that wealth of experience can provide some of the most important training you’ll receive.
Two advisors — who were rookies themselves not long ago — offer these tips to help you make the most of your learning experience and training:
> Show up to learn — not to innovate
Training programs are more about implementing than innovating strategies, says Pullen, who has been an advisor with Dominion Securities for the past six years.
Some rookies come in and try to “re-invent the wheel,” he says, by suggesting their own ideas. Instead, it’s more important pay attention to the advice offered by your instructors and follow their instructions.
> Keep an open mind
No matter how experienced you think you are, stay open to new ideas and suggestions.
Even though Andrew Munro, an investment advisor with TD Waterhouse Private Investment Advice in Toronto, had previous experience working in financial services, he says, he was “like a sponge” during his rookie training.
“I wanted to learn as much as possible,” he says, “because you get the benefit of all these professionals in front of you for a limited amount of time.”
> Know your strengths and weaknesses
Before starting your training, make sure you know what you’re good at — and what you’re not so good at.
Training programs can be quite intensive, often bombarding participants with information, says Munro, who started as an IA one year ago. Knowing your strengths and weaknesses — when it comes to learning, acting on new information and working with people — can help you make the most of your time and give you more confidence.
If you’re not sure where your strengths lie, ask friends and former colleagues, or even take a personality test, he says.
> Take the training process seriously
This formative stage of your profession is one of the most important periods of your career. It will profoundly affect your chances of achieving your career goals.
Also, be sure to attend every session and how respect for the speakers, Munro says. Many of the people presenting at these sessions are volunteering their time for your benefit.
Pullen recalls travelling from Edmonton to Toronto for a training program. Some classmates, he says, had a little too much fun during that week away from home. “Six years later,” he says, “those aren’t the ones who are around.”
> Find mentors
When the formal training sessions are over, your real training has just begun. Find a few mentors — experienced advisors willing to offer advice on a regular basis.
Maintain constant communication with experienced advisors, either within your branch or nearby, Munro says, to discuss ideas and offer business advice.
Tomorrow: More rookie advice
IE