The financial advice industry is always changing. From the implementation of RDR, advancing technologies and the launching of new products, changes are constant – which means that in order to stay ahead of the game, continual self-improvement and ongoing training for financial advisers is absolutely essential. It is often more difficult for self-employed financial advisers to get access to training and development schemes than it is for employed advisers who undertake training within the company they work for. However, the fact is that when it comes to developing skills, increasing confidence and winning new business, training and development is vital. Here’s why:
1. Stay ahead of the game
From changing regulations to the introduction of new products and even the development of technology, financial advice is constantly changing – and it’s essential your business isn’t left behind. When you’re a self-employed financial adviser, the buck stops with you, which means it’s down to you to ensure you are complying with the latest industry regulations and using the best possible technology to ensure your firm reaches its potential. Regular training and development can help ensure you remain on the ball and don’t miss anything so you can stay ahead of the competition and keep winning new business.
2. Increase your productivity
One of the biggest pressures of being a self-employed financial adviser is the feeling of being pulled in a number of different directions. From HR and marketing to IT and business development, it’s no wonder self-employed advisers are feeling the strain – and with so many different things to juggle, it’s essential that you are as productive as possible and that you use your time wisely. Regular training and development can help you to do your job to the best of your ability and as efficiently as possible. As a result, you will be more productive and able to manage your time properly, so you can ensure you are able to focus on the areas of your business that need you.
3. Grow your confidence
Whilst one of the biggest benefits of being self-employed is autonomy, on the other side of the coin self-employment can be a lonely place – and if things aren’t going as well as you thought or you aren’t hitting the targets you set for yourself when you expected to, it’s easy to become disheartened. However, taking part in ongoing training for financial advisers can instil confidence and increase self-esteem in what you do. Joining in with workshops or group learning sessions, for example, allows you to tackle problems with other people in the same situation, and by setting realistic goals when it comes to learning and development, you can build your confidence in the workplace and get to where you want to be.
4. Improve your wellbeing
There’s no doubt about it – being self-employed can be stressful. With the pressures of running a business, managing clients and all the other aspects of owning a company, it’s no wonder that self-employed advisers often have higher levels of stress and anxiety. However, getting involved in training programmes or attending seminars and workshops can help to take the pressure off. Simply taking part in some kind of training for financial advisers is a great way to take back control and ease the stress of self-employed life. Not only is there a chance to meet others in the same situation, but learning a specific skill or solving a problem through training can help to take the weight off your shoulders, too.
5. Develop your skills
Without a doubt, the most important part of training and development is the chance to identify and close any skills gaps that you might have whilst at the same time learning new skills that can help elevate your business to the next level. In addition, practising and refreshing existing skills is also important when it comes to retaining knowledge. By constantly developing and nurturing your skills, you can bring more to the table, which means your clients’ confidence in you will grow – and you can continue to win more business and grow your client book.
Training and development for self-employed advisers
But what options are out there for self-employed financial advisers who want to take part in regular training and development to increase their skills? One solution for advisers who are finding it hard to access the right training and development is to partner with a larger firm such as Foster Denovo. Foster Denovo is a multi-award-winning wealth management firm that partners with self-employed financial advisers to deliver top quality advice across the country.
With over 80 Partners and 165 employees, they’re small enough to be flexible yet big enough to make a real impact on the industry. Foster Denovo pride themselves on their partnership culture and their ability to support financial advisers within an innovative, nurturing, compliant and fun environment. Becoming a Foster Denovo Partner means becoming a part of their working culture, whilst still having the autonomy to work on your own terms – and in addition to all that, you’ll also have access to their award-winning training programme, Quantum Leap.
What is Quantum Leap?
Foster Denovo’s exclusive and highly-regarded Quantum Leap programme was set up by Founding Equity Partners David Stockdale and Andre Jordache. Before creating the programme, they found themselves attending lots of training seminars and workshops on how to build a successful practice, win clients, and prepare for practice buyouts – and they wanted to share all of this information with the rest of their Foster Denovo Partners. Essentially, Quantum Leap was designed to give financial advisers the skills, knowledge and strategies they need to increase productivity and build their client books – in fact, the main objective of the Quantum Leap programme is to optimise service levels and double Partners’ turnover.
Throughout the programme, Partners have access to mentoring, group training, regular business analysis assignments and a comprehensive workbook containing different modules to help them get to where they want to be. The results speak for themselves, with many Foster Denovo Partners experiencing a significant increase in their business as a result of the Quantum Leap training programme. Since it began in January 2015, the Partners who have been involved since the start have increased their turnover by 76% – a 26% increase on those who chose not to take part!
Sound good? If you’re ready to boost your productivity, develop new skills, win new business and improve your work/life balance, contact Recruit UK and apply to become a Foster Denovo Partner today.