Managers are sometimes part trainer, part mentor, part motivator and part mediator, says Rosemary Smyth, founder of Rosemary Smyth and Associates in Victoria. The more you can rely on your manager for support, the better equipped you will be to overcome the obstacles that inevitably arise.
Rookies, in particularly, need encouragement from their managers, Smyth says, as well as needing reminders on best practices.
“There’s a lot of rejection in this industry,” Smyth adds. “When you have a lot of ‘no’ in your life, it’s nice to be able to talk to someone and ask, ‘How do I get the ‘yes’?”
Here are four ways rookies can gain the most support from their managers:
1. Set weekly meetings
As with any relationship, spending time together strengthens bonds, Smyth says. Weekly meetings between advisor and manager can be casual, like getting together for breakfast on a Friday. Or they can be more formal: structured office meetings held every Tuesday afternoon.
These meetings are your opportunity to set weekly goals, receive guidance, and ask your manager what he or she would like to see you accomplish. They also represent your opportunity to build trust by showing your process — and integrity — in the way you handle trickier tasks, such as opening a new account or telling a client a certain transaction is beyond your qualifications.
Smyth advises rookies to continually look ahead, and inquire about educational opportunities such as training, coaching and mentoring.
2. Take notes
Taking notes is key for tracking goals and holding yourself accountable, Smyth says, particularly during meetings with management.
You’re facing a steep learning curve, so note-taking is also an opportunity to track your progress and learn from past mistakes.
3. Become a good listener
Active listening — making a conscious effort to understand what someone is saying and participating in the conversation — is essential to showing that you’re invested in building a relationship.
Avoid multi-tasking, Smyth says, especially with mobile phones, when speaking with your manager. In Smyth’s own coaching practice, she sometimes has to remind rookies to stop texting and focus exclusively on the conversation at hand.
Paraphrase important parts of your conversations with managers to show that you are engaged, appreciative, and committed to improving your practice.
4. Know your resources
Ideally, your manager will be patient enough to walk you through the resources that are available to you. So, be sure to ask him or her whom you should contact under certain circumstances, and when. Again, this is where taking notes becomes especially handy, Smyth says.
Sometimes, alternative training opportunities that are available at some firms go unused by those advisors who could most benefit from them. So, it’s important to connect with the right managers, whether it’s for sales, compliance or practice-management advice.
This is part of an occasional series featuring tips for rookie advisors.