The world is pretty chaotic right now. And, while I’m a believer that there will always be chaos on the world (I like to call events like COVID and highly contentious elections the ‘apocalypse du jour’s), I feel like we are in a particularly stressful time for a lot of people. While times like these can make a lot of people go into freeze mode where they don’t make any major changes in their lives, I think it’s actually the perfect time to take advantage of the circumstances and launch your own advisory business.

Why now is the right time to launch yourself as an independent advisor

When chaos is reigning supreme, many people get worried about their finances. This is especially true of those who have never worked with an advisor or who has only worked with advisors who all sound alike and try to sell them on products they don’t really want or need. However, instead of seeking out an advisor who will help get their finances on track and ease their anxiety, many people tend to stick their head in the sand and wait for the chaos to pass.

The truth of the matter is, people need fiduciaries who have their best interests in mind during these times for a number of reasons.

  • Finding peace can start with their finances. When people are experiencing chaos in various parts of their lives, they often don’t know where to start when it comes to finding peace. Finances are a smart place to start for two reasons. First, once someone’s finances are in order, it’s easier to tackle other areas of life and second, it’s relatively simple and straight forward to get finances in order with the help of the right advisor.
  • They could be doing damage to their financial future through inaction.
  • They may be able to take advantage of the market and make smart decisions that will help them achieve their financial goals more quickly.

What to do if you are still with a large brokerage

Have you considered becoming an independent advisor but are currently still with a broker who pushes you to sell products to your clients? If so, now is the time to leave the big firm and start your own business. The last thing anyone needs in chaotic times is to have financial “professionals” causing them more stress and anxiety just so they can increase their paychecks. When you strike out on your own now, you can identify those clients who need straight talk and solid advice and build your business while helping others get through these chaotic times with their money and sanity intact.

What to do if you’re already independent

Already own your own independent financial business but not sure how to reach the people who need your help in these chaotic times? Here are some ideas.

  • Keep your eyes and ears open. When people are unhappy—especially with those who are handling their money—they usually can’t keep it to themselves. Get out and attend events, join groups, and talk to people to identify those who may be ready to make a change.
  • Market yourself. With a smart marketing program, the right clients will come to you.
  • Work with a coach. Whether you’ve just started your business or you’ve been at it for a number of years, you can always learn, grow, and improve. When you work with coach who is also an advisor, you get the best of both worlds and can quickly take your business to the next level.

Decided now is the right time to launch your advisory business or are you ready to take your independent business to the next level? Please reach out. I’d love to help.