Do you remember why you got into the financial planner industry? Undoubtedly, there are many benefits of working as a financial planner, including a high job satisfaction rate, financial stability, ability to increase your network and work-life balance. However, as with any job, it’s easy to lose track of your goals or be demotivated, especially if there is no one to remind, guide or share with you.
We spoke with Angelina Nguan – one of EVOL’s senior financial advisers and Agency Development Manager – on why she got started in financial services, and her advice, especially to young financial planners, on how to make it in this industry.
1. Please share a brief self-introduction, and the reason you got into the industry in the first place.
My name is Angelina. I was a former early childhood educator. It may seem like a big change to embark into the financial planner industry, but to me, it was a natural calling as I’ve always been passionate about educating and touching people’s lives in a meaningful way.
I became a firm believer of Insurance when I had to undergo a surgery and made a first claim on my own Critical Illness policy. This led me to pursue a career in the Financial Services industry to help individuals and families create a safety net against uncertainties of life. At the same time, I am passionate about helping clients to grow their income and savings to achieve their individual financial goals. This is my sixth year in the Financial Services industry and I’m also a Certified Will Planner which empowers me to provide comprehensive financial planning for clients of all backgrounds.
2. What are some advice that you received as a young financial adviser that has stuck with you until now?
When I first started out, I was fortunate to have cross-learning and sharing with different Managers in the EVOL group. This is one of the great things about working in a people-driven company like EVOL. Even if you have had no experience in doing sales, you wouldn’t have to worry as you will receive mentorship from top Financial Advisers when you enter the company.
Today, I will share the top three pieces of advice that have stuck with me to date.
You have to find out What is Your Why?
Ask yourself, “Why do you want to be in the Financial Services Industry? Why do you do what you do everyday? Why do you want to achieve this?”
Knowing your “Why” enables you to find your purpose and conviction to keep you going when the going gets tough. Over the years, your “Why” may also change several times as your life changes, but the root of it should always be your reason and drive to adapt and improve, in order to live the life you want.
Begin with the end goal in mind.
With clarity about your goals, you can then plan and strategize more effectively. Breaking down big goals into manageable sizes, that you can track weekly or even daily, is a great way to feel motivated and accomplished.
Do something for your business every day.
You would have to steer this ship like a captain. Apart from completing a sales cycle, making calls, setting appointments, meeting prospects, after sales services, asking for referrals, you would also need to market yourself and be accountable and self-disciplined to complete the goal you set out for yourself. It’s easy to fall into routine and forget about upgrading yourself or your career. There are many solutions out there to market yourself and get the word out to new clients, which is why you should also invest your time in this aspect.
3. What are some common characteristics that you think any financial planner should possess?
Being trained as a former educator, I believe it will be good if a financial planner possesses interpersonal skills and emotional intelligence. As we are in a people business, it is crucial not only to have the financial knowledge but also to be able to “read the room”. It’s important to let clients feel comfortable with you. After all, you will be the person they trust to manage their money. By understanding and acknowledging a client’s emotions, it can help to prevent or manage any conflict that might arise.
4. What advice, be it for their career or in life, would you give young financial advisers who are just starting out in this industry?
Persevere and put your best foot forward. Remind yourself about your “Why” and keep to it. Give yourself and this business a chance. Many people give up when they do not see results in a short time. Rome wasn’t built in a day, and you shouldn’t have unrealistic expectations about your career too. You can, however, set a timeline if you must.
There’s a quote that I resonate with which perfectly applies to every new challenge that arise:
“I’m not telling you it’s going to be easy – I’m telling you it’s going to be worth it.” ― Art Williams
As long as you have given it your best, no matter what happens, you will be the person that benefits the most from the experience. No one can take away the lessons that you learnt and it will be beneficial for you in every aspect in life.
5. What would you tell your younger self, knowing what you know now?
Financial planning is truly the most important lesson for anyone looking for financial stability. As a young working adult, I should have saved and invested at least 20% of my income as soon as I received my first paycheck. With a longer time horizon to ride on compound interest, I would have accumulated quite a sum for myself! But it’s never too late. The best time to start was yesterday, the next best time is now.
In short, whether you’re new to the financial planner game and aren’t certain about what to do, or a seasoned professional who is seeking some fresh perspective, we hope you have found today’s guest post useful! There’s always room to improve and be better than what you were yesterday.