Financial Advisor Wins: Investing in your personal development

Financial Advisor Wins: Investing in your personal development Ed Note: This article is part of an ongoing series focused on the achievements made by financial advisors.

“For the best return on your money, pour your purse into your head.” — Benjamin Franklin

Successful people know success does not happen by accident. They plan for success by setting goals that inspire and motivate them to achieve more in life.

As a financial advisor, you are accountable for your own success, but no matter how successful you are,  or how well things are going in your life, there’s always room for improvement.

Investing in you through personal development is a good way to be proactive. Rather than waiting for good things to happen, you have to be willing to go out there and make them happen. You may not always achieve your objective, but you will experience a more rewarding life when you commit to pursuing your purpose.

When you invest in yourself, don’t see it as an expense and instead see it as an investment. Personal development is a lifelong process. It’s a way for you to assess your skills and qualities, consider where you want life to take you and set goals in order to realize and maximize your potential. It requires a personal commitment to manage and invest in you the right way.

It sounds simple, but any type of investment will always involvecommitment, strategic thought and planning. Making an investment in yourself requires you to know where you should invest your time, money and resources. Glen Llopis wrote, back in 2012, for Forbes: “Think of it like the stock market – your clients rely on you to help manage their portfolios. You base this on a number of factors: the amount of money they are willing to invest; how much risk they are comfortable taking; what type of commitment they are willing to make to manage their investment decisions and keep track of their desired outcomes; etc. Likewise, when you invest in your personal development, you must do it with the end game in mind. For example, what performance improvements and career advancement outcomes do you expect and when will you be able to see favorable financial results and lifestyle changes as a result of your investment?”

Carthage Buckley, a learning and development professional, says there are six core benefits of personal development to consider:

Self-awareness. Personal development begins with self-awareness. You get to know who you really are by exploring your values, beliefs and the purpose you wish to pursue. True fulfilment can never come from chasing other people’s dreams. If you want to achieve lasting happiness, you need to design your life based on who you are, then you can chase your own goals and objectives. When you are chasing your own goals, there is as much pleasure to be derived from the journey as there is to be derived from reaching your destination. Self-awareness is the first fundamental step in the personal development process.

A sense of direction. Once you have raised your self-awareness, the things you wish to achieve from life become clearer. Decision-making becomes a lot easier. Tasks that used to take a great deal of your time no longer make it onto your To Do list. You now realize they do not move you toward your objectives and therefore are not worthy of your time.

Improved focus and effectiveness. With personal development comes clarity. Even with an improved sense of direction, there will always be multiple tasks  competing for your attention. As your personal development improves, prioritization becomes much easier. You are clearer on your objectives and you can quickly identify the task that will give you the best result with the resources available to you at that moment. Improved focus and effectiveness comes with knowing and playing on your strengths. If this is something that you struggle with, check out Develop Your Strengths.

More motivation. When you know what you want to achieve, it is easier for you to see the benefits of taking action. Even when the task ahead is not enjoyable, you are more motivated to take necessary action if you can see a clear benefit. There is truth in the old adage, “Where there is a will, there is a way.” With strong personal development, you develop the necessary will.

Greater resilience. There will be tough times in life. When these tough times occur, you need to have the skills and attributes to deal with them effectively. Personal development cannot prevent bad things from occurring, but it will help you deal with them when they do. You will have greater confidence, resilience, personal and interpersonal skills to cope with any eventuality.

More fulfilling relationships. Relationships are a double-edged sword. They either lift you up or drag you down. When you improve your personal development, you are better able to see relationships that are worth investing in and which need to be cut loose. You also develop the skills to make the most of the relationships that have the most positive impact on your life.

Personal development requires setting effective goals that inspire and motivate. It’s about taking the time and making the commitment to invest in you. When you put forth the effort to develop yourself, the rewards can be amazing. The greatest achievers in life know the key to success is the ability to manage yourself in a variety of situations. That ability only comes through personal development.

For more information on Summit Brokerage Services, visit www.joinsummit.com or contact us at (800) 354-5528.

Summit Brokerage Services is a member of Cetera Financial Group, RCS Capital Corporation’s (NYSE: RCAP) retail investment advice platform.

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