So what’s the way out for advisors who find themselves stuck in this trap? Littlechild suggests that it starts with taking an intentional pause and step back to look at the business itself, your role as the advisor (particularly if you’re the founder/owner), and to begin setting a proactive vision of what you want the business to look like, and what you want your role to be. Until eventually, the advisor doesn’t even feel in control of their life and their business instead, the business controls them, and it’s a beast that must be fed, given the even-more-adverse financial ramifications of having the business fail. The added complication in the context of being a financial advisor is that successfully engaging with clients usually brings more of them, which grows the business larger and necessitates the hiring of more staff, and in turn can just accelerate the burnout stress for an advisory firm founder who is now mired in both the service demands of clients and the demands of running the business itself. The Pursuit Of Absolute Engagement (Julie Littlechild) – Burnout is a common challenge in many client-oriented professions, where the ongoing grind and demands of serving clients can lead to a level of chronic stress that takes a mental (and sometimes even physical) toll. In 2010, Michael was recognized with one of the FPA’s “Heart of Financial Planning” awards for his dedication and work in advancing the profession.įinancial Advisor Book List For Summer Reading In addition, he is a co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, the former Practitioner Editor of the Journal of Financial Planning, the host of the Financial Advisor Success podcast, and the publisher of the popular financial planning industry blog Nerd’s Eye View through his website, dedicated to advancing knowledge in financial planning. Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth, a turnkey wealth management services provider supporting thousands of independent financial advisors. So as we head into the summer season, I hope that you find this suggested summer reading list of books for financial planners to be helpful… and please do share your own suggestions in the comments at the end of the article about the best books you've read over the past year as well!
Best books to read 2017 business how to#
It quickly became a perennial favorite on Nerd's Eye View, and so I've updated it every year, with a new list of books in 2014, another in 2015, and a fresh round of recommended books for financial planners in 2016.Ĭontinuing the annual series, I'm now excited to share my latest 2017 Summer Reading list for financial advisors, with suggestions on books about everything from how to minimize burnout and more fully (re-)engage with your advisory firm, and how the principles of computer algorithms can help you gain personal efficiency and better productivity in your daily life, to building an "enduring" advisory firm that lasts beyond its founder to the next generation of advisors (and how to serve the next generation of clients that will be necessary to perpetuate the firm), practice management books on everything about how to properly value and/or think about selling your firm and how to actually run your business like a business that is scaling up in size, to why humans will likely remain relevant (including and especially with the rise of computers and robots) and what it will take for financial planning to finally, truly become a profession in the 21st century.
And so, in the spirit of sharing, a few years ago I launched my list of " Recommended (Book) Reading for Financial Advisors", and it was so well received that in 2013 I also started sharing my annual "Summer Reading List" for financial advisors of the best books I'd read in the preceding year. and catch up on some good books.Īs an avid reader myself, I'm always eager to hear suggestions from others of great books to read, whether it's something new that's just come out, or an "old classic" that I should go back and read (again or for the first time!). and it's time for the annual summer slowdown for most advisory firms, as clients begin to go on summer vacations and it's harder to schedule them for meetings, and as advisors we have some time for ourselves to relax with family. It's Memorial Day once again, which means we're well past tax season, and the busy spring season of industry conferences is coming to an end.
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