The top collegiate men’s basketball teams in the nation that will be playing to bring home the hardware have a lot of parallels with financial advisors’ efforts to bring home new AUM. And while this might seem like a stretch, please hear us out – it may help elevate your game.
Here are 4 factors that contribute to Financial Advisors and these highly competitive basketball teams making it to the big dance and winning it all:
Passion, Drive & Discipline: These hard-working athletes have used their passion for basketball, drive for success and discipline to get them where they are today. They didn’t just happen to end up on a team fighting for the most prestigious trophy in college basketball. Advisors can find themselves achieving new levels of success when they’ve got the passion, drive and discipline too. And it’s more than wanting the best for themselves; it’s also wanting to be the very best advisor for their clients and providing their clients with everything they need to succeed. And just like the program and coaching staff, your B/D is a big part of your performance.
Processes, Routines & Strategy: There are processes, routines and strategy that go into finding success on the court. Just throwing your 5 best players out there isn’t enough to ensure coordinated, top-caliber performance. These processes and routines help players prepare for a game, both mentally and physically. It’s the same for advisors; they have their daily routines and processes that prepare them for the day ahead and help them provide the best for their clients. Then there’s the strategy. Every basketball team has a strategy for winning a game; and advisors need their own strategies for achieving success, and it should play a role in their everyday routines. Is your B/D providing you all that you need to consistently win?
Technology: We live in an increasingly digital world, and technology can play a powerful role in both NCAA teams and advisors achieving their goals. Every top-level basketball team has integrated technology into their practice regiment and use it to prepare them for a game. They spent countless hours watching old games, studying their opponents and how they play, while also studying their old games to pinpoint things that went well and what still needs work. And while advisors will use technology in a way different than these teams, it’s still just as important. Utilizing the right technology can make all the difference and help not only keep them ahead of the curve but can play a monumental role in growing a practice. The question is, “Is your B/D providing you with robust technology and support?”
Support & Guidance: This may be one of the biggest similarities between financial advisors and NCAA basketball players. Neither one can accomplish all that they have without the support around them. For the players, it’s the support from their coaches and athletic trainers. For advisors, it’s the support of their broker-dealer. Having stellar support allows the players to really focus on the game and advisors to focus all of their attention on their clients. The support can help propel them to the next level and get them one step closer to achieving their dreams.
Now the question is, “Do you have what it takes to make it to the big dance?” If you find yourself feeling like you’re dancing with two left feet or don’t think you have the right support and technology, it might be time to consider a new broker-dealer. Curious about making a change and understanding the opportunities available to you? 3xEquity is here to help. We can secure you multiple offers from the top broker-dealers to negotiate the best transition package – 3xEquity is here to help you make it to the big dance.
Get started right now at www.3xequity.com.