Authority Magazine recently ran a series called “5 Things You Need To Succeed In the Modern World Of Finance.” In the series, we interviewed C-Suite executives and principals at finance or financial services companies who spoke about what a young person who joins the new world of finance needs to succeed in this sector. Here are some highlights of the interviews.
“Mary Alice Hughes and Lisa Bamburg of LMA Financial Services
If you do what is right for the client, you’ll be successful! A great example of this in our business is making sure we ask a lot of questions before making recommendations. If Joe Client wants security of principal and is fearful of risk, we don’t need to recommend a mutual fund! Or, if a client needs unlimited access to funds, we won’t suggest an annuity with limited withdrawals. Also, we don’t bother a client after they leave our office! If Joan Client has said that she needs time to think, we are going to give her time to think. People don’t want or need to be harassed and bothered. You don’t sow a seed and reap rewards immediately. Success in the finance industry depends on consistently seeing people. Most people don’t make a decision at the first appointment. So, you have to consistently keep seeing people. We refer to it as “filling the pipeline.” It is human nature to want to slack off after some big sales or successful weeks. We’ve all done it. Long-term success requires full-time work!"
As seen in Entrepreneur. Read the entire article 50 Things You Need to Succeed in the Perpetually Changing World of Modern Finance or download the reprint.