The Perfect RIA

Daydreaming Won’t Make You a Successful Financial Advisor [Episode 273]

Sep 9, 2024

Discover the fine line between setting real financial goals and simply daydreaming. Learn why successful advisors emphasize hard work and self-awareness, recognizing their weaknesses for continuous growth. The importance of tracking progress is highlighted; without measurement, you risk stagnation. Even leisure time shouldn't just be for binge-watching—focus on enriching activities that bolster your professional life. Embrace discipline and take actionable steps for meaningful success in the financial advisory world.

22:06

Creator website

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Successful financial advisors differentiate themselves by their relentless work ethic and commitment to achieving tangible goals through consistent effort.

Self-awareness and humility play crucial roles in identifying weaknesses, enabling growth and accountability for performance improvement in financial advising.

Deep dives

The Power of Work Ethic in Achieving Goals

Successful advisors often distinguish themselves through their relentless work ethic. The podcast highlights two groups of advisors: one that sets and achieves 'big hairy audacious goals' (BHEGs) and another that remains stagnant despite their aspirations. The former group excels because they are willing to put in the sustained effort necessary to surpass their goals, while the latter struggles due to a lack of commitment to doing the challenging work required for real progress. The emphasis is on the idea that success is not inherently complicated, but it necessitates hard work that many are unwilling to embrace.

Accountability Drives Results

01:22

Embrace Transparency to Achieve Success

01:34

Intro

2min

The Hard Path to Success in Financial Advisory

2min

Self-Awareness: The Key to Success for Financial Advisors

2min

Embracing Discipline in Financial Advising

13min

Embracing Action for Financial Success

2min

Matt and Micah are breaking down the difference between actual goals and mere fantasies. Why do some financial advisors hit their big hairy audacious goals (BHAGs) while others just daydream? Spoiler: hard work, self-awareness, and a hefty dose of accountability. They emphasize that achieving real goals, unlike fantasies, requires the willingness to put in the hard work. Successful financial advisors don’t just pat themselves on the back; they recognize their weaknesses and know where they need to improve.

Matt and Micah also stress the importance of tracking progress. If you’re not measuring your progress, you’re slacking, because this helps identify where you need to pivot. And yes, even your free time should be somewhat productive—focus on activities that contribute to your personal and professional growth, not just your Netflix queue.

Daydreaming Won’t Make You a Successful Financial Advisor [Episode 273]

Resources in today's episode:

Resources

- Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn - Bringing Peace Of Mind To Your Prospects And Clients With Guest Paul Moffat