The term entrepreneurial describes the ability to see opportunities that others miss and the courage to take calculated risks to push an organisation forward. Entrepreneurs are innovative because they aren’t limited by conventional thinking.
Advisers have been conditioned to operate inside boundaries set by the industry and their Australian Financial Services Licensee (AFSL). Few stray beyond life insurance, superannuation and traditional investments.
This really is the time for many Financial Advisers to be asking themselves “Why”?
- Why did I first get in to financial planning?
- Why am I staying in financial planning?
- Why am I the right person to help my clients?
- Why am I completing the FASEA Exam and FASEA Higher Education requirements?
This is a true inflection point for the advice industry and offers an opportunity for Advisers to ask themselves “why”. Some in the industry see the changes brought on in recent years as happening to them. Other see these changes as a fantastic oppportunity to reimagine their future in the industry. I speak with Financial Advisers every day and it’s evident some should be asking themselves if continuing represents the best opportunity for themselves. For others, it is quite clearly their passion and their calling.
Financial Advisers of the future can position themselves to be a client’s “Adviser of Choice”. The “Hub Adviser”, who can liaise with other professionals in the client’s orbit. Financial Advisers truly need to embrace the entreprenuerial spirit. Let’s hope the licensing regime comes along for the ride.