Ameeta Panesar, independent financial adviser at Fairstone, reflects on why resilience can be just as important as technical knowledge in the early stages of an advice career.
This month’s In Focus looks at how younger advisers can build confidence, develop their skills and lay the foundations for a successful career in financial advice. We explore the practical support, guidance and experience that can help early-career advisers grow into their roles and prepare for long-term success.
When people talk about succeeding as a financial adviser, the conversation often centres around qualifications and technical knowledge.
Although these are important, I do believe that one of the most valuable qualities an adviser can build in the early stages of their career is resilience.
The emotional aspects of financial advice
The financial advice profession is incredibly rewarding, but it can also be emotionally testing in ways that do not really tend to get spoken about.
As advisers, we’re often supporting clients through some of the most significant moments of their lives.
We carry a lot of responsibility, particularly when we’re new to the profession and still building our confidence.
There is a gap between qualifying and feeling genuinely ready. Passing exams doesn’t automatically prepare you for sitting across from a client who is anxious about their finances or looking to you for reassurance during a difficult period in their life.
Self-doubt is normal
In the early stages, it’s normal to experience self-doubt and the imposter syndrome can become very real.
You will think about meetings you had, wondering if you could have explained something better or handled a conversation differently.
The pressure to perform, continue learning and establish yourself professionally can sometimes feel overwhelming.
You’re not alone
One of the most important lessons I’ve learned is that resilience does not mean dealing with everything alone.
Every new adviser should have at least one person they can speak to openly when things feel difficult. It doesn’t matter whether it’s a friend, mentor, manager or another adviser.
Having a trusted sounding board can make a huge difference. It did for me. Speaking to that person after a challenging day can provide perspective.
What feels like a major setback in the moment is actually often something that most advisers have experienced quite a few times before.
Sometimes you need advice, but more often than not, it’s simply just reassurance that what you’re going through is completely normal.
I also found it hugely beneficial to connect with others at a similar stage in their journey.
Having people around you who are facing similar challenges can make things feel much less isolating.
Establish your boundaries
What’s also important is learning to set boundaries.
It’s so easy to equate long hours with commitment. You might feel pressure to say “yes” to everything, take on every task and constantly prove your value.
Ambition and drive are important, but it’s impossible to fire on all cylinders every minute of the day like that, without burning out.
Burnout doesn’t happen overnight. It builds when rest, reflection and balance are consistently deprioritised.
A career that really makes a difference
Despite the challenges, I would encourage anyone starting out in financial advice to remember why they chose to do it in the first place.
This is a career where you have the opportunity to make a genuine difference to people’s lives.
There aren’t many roles out there that allow you to build such meaningful relationships with clients, while helping them achieve their goals and gain confidence in their financial futures. Embrace it!
Dealing with tough times
It is true that the early years in financial advice can be tough.
There will be moments when you question yourself and days when the responsibility feels heavy but if you invest in your own resilience, seek support when you need it and give yourself permission to learn rather than be perfect 100% of the time, the rewards will far outweigh the challenges.
For me, the greatest privilege of being an adviser is being trusted to walk alongside clients through some of their biggest milestones in life.
Whether it’s helping someone retire confidently or supporting a family after the loss of a loved one, the impact we can have extends far beyond just the numbers.
The beauty of financial advice
Financial advice is beautiful.
It challenges you, stretches you and continually pushes you to grow. But it also gives you the opportunity to make a lasting difference to people’s lives.
Having someone in your corner during the difficult days of your career can make all the difference and help ensure that you stay in the profession long enough to experience just how rewarding it can be.
