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Passionate About Change
With the economy in a tailspin and the markets in turmoil, now may not seem like the best time to speak with your clients about what it is they really want out of life. After all, right now all they probably want is to lose as little of their savings as possible. However, change is a constant and markets will always fluctuate––which is exactly why it is a great time to speak with your clients about what it is they want out of life. Accepting that change is inevitable, and being passionate about what you do day in and day out, helps to bring balance and fulfillment to our lives.
Before you engage in a dialogue with your clients about their personal and financial plans, ask them to answer the following questions. Warn them that they should take their time before answering the questions; the exercise is worth the introspection because of the clarity it provides to both you and your client:
After answering these questions, your clients will find either affirmation in the work they do or a disconnect between their work and their heart. Their answers can affect how you work with them to lay out a financial plan for their future. My brother, who sells insurance, didn’t see much satisfaction in his work until the day he came upon an auto accident where one of his clients had been killed. My brother had sold life insurance to this client less than a week before the accident; all of a sudden that satisfaction turned into passion, a passion to make sure his clients were prepared. In a tumultuous market, you have the ability to bring peace of mind to your clients and make them realize they can pursue their dreams.
Some of your clients who complete this exercise will realize they have grown tired of the work they do (they lack passion) and realize it’s time for a change. They no longer have the enthusiasm they once had. They have met and exceeded the challenges or realized that the work was not the best expression of who they really are. It is fairly common for certain personality types to hunger for some sort of new and exciting challenge in their life. It is just as common for people to face up to the fact that they secretly harbor a desire to do something that would be viewed as a step down in society’s eyes, such as the college president who became a golf course ranger, the stockbroker who became a park ranger, the surgeon who became a farmer, or the high-level management executive who became a specialized auto mechanic. Your client might feel stuck in a lifeless job or career because they are letting their return on investment dictate their return on life. They feel paralyzed by Wall Street. As a financial life planner, your role is to help them sort through what is possible.
There are a thousand stories about people who decided there was a way to unite their heart and their work. All of these people had to negotiate some sort of resourceful transition to get there––and it wasn’t always easy. The difference is that they always wanted to do it and are having the time of their life (some are also making the best money of their life) by following their passions, interests, and dreams into their work. Ensure your clients understand that life shouldn’t be compartmentalized into the neat little boxes of education, work, and retirement but instead integrated into one winding road so life becomes balanced and fulfilling. A great life is one in which we are constantly learning something new, engaging in work that challenges and satisfies us, while reserving time for rest and relaxation. Your clients look to you for your expertise and advice (and maybe even your permission); help them understand how important it is to be passionate about what they do, and to translate that passion into positive change. Your own passion about what you do will inspire your clients to make a positive change. What could be more fulfilling than that?
Adapted from The New Retirementality: Planning Your Life and Living Your Dreams…at Any Age You Want by Mitch Anthony (©2008 Mitch Anthony). Published by John Wiley & Sons, Inc. Mitch Anthony is the founder and president of Advisor Insights Inc. and The Financial Life Planning Institute, training companies serving advisors and the financial services industry. He is the author of several books for advisors including the StorySelling for Financial Advisors. His newest book, From the Boiler Room to the Living Room: What the Coming Revolution in Financial Services Means to You and Your Clients will be published by John Wiley & Sons is now available at local and online booksellers or at http://www.mitchanthony.com/BOOK_Boiler_Room.html. Anthony is a contributing editor for Research magazine and his column “Financial Life Planning” appears in Financial Advisor magazine. He has been a named a “Mover & Shaker” by Financial Planning magazine and is frequently quoted by the media as an expert on financial life planning. Contact him at mitch@mitchanthony.com. © 2008 Mitch Anthony |
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