My favorite event series that Pax sponsors each year is the InvestmentNews Women Adviser Summits held in Boston, Chicago and San Francisco. InvestmentNews editor Suzanne Syracuse and her team do a phenomenal job curating days full of relevant sessions and timely advice from speakers with a diverse set of perspectives and expertise. There is always a lively energy at the end of each event – which is not always the case after a long day of sessions – that keeps people excited and engaged well beyond the close of the meetings.
Here are my top three “aha” moments from this year’s Summits:
As someone who spends a lot of time talking about next gen investors, when I heard a session was focusing on ‘generational reach’, I assumed we would be discussing Millennials. Wrong. Susan Kay flipped that on its head and said you should also be reaching up, not just down when it comes to families. Many of your clients have elderly parents who, in some cases more than others, need a holistic financial planner rather than a more traditional investment broker. She suggests asking the simple question, “Are your parents moving in with you anytime soon?” to kick off the conversation. This will open their eyes – and may also open a door for you! Use the opportunity to communicate how you can help with the transition as they are making big life decisions with their aging parents.
“I’ve been in the business 30 years.” – sounds DATED! “I’ve been through 13 economic downturns and know how to support my clients.” – sounds IMPRESSIVE!
Experience matters in our industry, but how you message it can matter even more. Maribeth Kuzmeski from Red Zone Marketing gave it to us straight with her advice on branding and the importance of delivering a compelling value proposition. As our industry and the world advance with the rise of technology and the next gen investor, you want your experience to set you apart not hold you back. Google yourself. Make sure you are delivering your message in a way that is compelling to today’s investor in today’s world.
We were privileged to hear from three uber-successful women on the topic of leadership. Their advice varied, but collectively they agreed that being a great leader requires you to admit where you are weak. Being honest, with yourself at the very least, on what you don’t know or are not particularly good at will set you on a path to build the best team. And once you build your team, ask them for feedback, listen to their perspectives and use that information to help navigate the way to effectively leading in your business.
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Kelly Coyne is a registered representative of ALPS Distributors, Inc.