Ep. 69 - 2 Reasons You Haven’t Doubled Your Financial Planning Practice (Yet)

<p>Today, I was thinking to myself… <em>What actually holds people back from doubling their revenue and building the financial planning practice of their dreams?</em></p> <p>And after meditating and journaling about it for a while, I realized that there <strong>are two main things I’ve seen</strong>.</p> <p>Now, there are many things that might be holding you back, but based on coaching over 80+ advisors over the past 3 years and being one myself for the last 6+ years, there are two things that I’ve seen consistently that create a LOT of “stuckness.”</p> <p>The “stuckness” usually sounds a little like this:</p> <p>👉 You’re 3-7 years into your business.</p> <p>👉 You know you have the ability and capacity to do big things in this career. </p> <p>👉 You’re smart, have studied up on planning. Maybe you’ve even gotten some certifications (CFP, CLU, RICP, etc.).</p> <p>👉 But, you’re not at your potential (yet). 😖</p> <p>👉 Your income has gone up each year, but only gradually.</p> <p>👉 You’re good at building relationships, closing clients, and overall you enjoy the career…. But you just haven’t really broken through to that next level.</p> <p>You realize that there’s one area of your business that’s likely holding you back, but you’re just not sure how to fix it.</p> <p>And you probably already know what that one thing is.</p> <p><strong>Prospecting</strong>. Aka: generating leads.💸</p> <p>And so, after years of experience, here are the two things I see that hold back advisors from their next level:</p> <p>1️⃣ Meeting with anyone / taking joint work down meetings</p> <p>and…</p> <p>2️⃣ Keep getting referred laterally, not up (no strategy for prospecting up)</p> <p>If you’re over 1+ year in the business, you likely already know this: </p> <p><strong>If you want to make more money without working more hours – the fastest and most effective way to do this is to prospect UP (aka: meet people who have more money).</strong></p> <p>I know, it’s easy to write here, but harder to do in action.</p> <p>Here’s what I see SO many ad