The recent 2018 Million Dollar Round Table (MDRT) Evolution of Advice National Roadshow series delivered a string of valuable messages to financial advisers on how to go beyond what you believe you can achieve, creating a ‘wow’ client experience and making yourself irreplaceable, to name a few.
Advisers heard from three different MDRT adviser speakers, each with their own message and drawing on their own experiences as advisers.
First up was the UK’s David Braithwaite of Citrus Financial, a financial planner with almost 25 years in financial services and a sought-after media commentator.
His recurring theme was ‘Do What You Can’t’. He encouraged advisers to make that change, such as a new client type or specialism, that they may be holding back on because they don’t believe they can do it, pointing out most people in the room must want to change something in their business otherwise they wouldn’t be attending in the first place.
“If you keep doing what you doing, the old ways that you have got are not going to open new doors, if it’s new doors that you want,” said Braithwaite.
He emphasised the importance to follow through with hard decisions when it came to recruitment in your business – to hire slowly and fire quickly if they are not the right fit.
“We’re very good as advisers at taking clients fears away from them,” he explained.
“We’re very good at making their problems and questions go away by finding out how to actually deal with them – but how often are we good at actually looking after ourselves sometimes?”
Braithwaite recounted his own experiences in embracing his fears, rediscovering what he loves about his work and how he rebuilt his whole team from scratch.
He employed his wry humour to great effect throughout, such as when he spoke of those people who will try to bring your ideas and ambitions down to their level. Likening them to people drinking champagne on the Titanic, he said, “We can be their iceberg!”.
Past President of MDRT and founder of Borislow Insurance in Massachusetts, Jennifer Borislow went in-depth on how to create the ‘wow’ experience for clients, using her own business practices as examples.
She explained the value of mentoring up as well as mentoring down and the positive impact of creative end-of-year celebrations for the team.
Borislow has had a rewarding career so far but said she never planned to be part of the insurance industry, and when she put the question to the audience how many had planned to be in financial services, one person raised their hand.
“Our industry makes a difference and impacts lives,” she said.
The final speaker was Brian Heckert of Financial Solutions Midwest and a recent MDRT Past President.
He challenged the audience to ask themselves ‘Are you replaceable?’ and gave a word of warning on roboadvice, “If you’re replaceable by this, you should reconsider what you’re doing.”
He also explained how MDRT has helped him become a better leader and how he built a wisdom-based practice. “Are you closer to that person that you envisioned when you were younger and if not, why not? And if not, why not make the change today?”
The 2018 MDRT Evolution of Advice National Roadshow series was held in Auckland, Wellington and Christchurch and across five cities in Australia, spanning a fortnight.
To find out more about MDRT membership and join its 62,000 members, click here. The 2018 MDRT Annual Meeting will be held in Los Angeles this year.
