I’m almost embarrassed to admit I have been a lifelong WWE fan, or WWF as it was called when I first started watching it with my dad as a kid. I was obsessed with the storylines, the physicality and the theatrics involved. Cheering the “baby faces” and booing the “heels”.
So obviously after watching Wrestlemania 40 recently, I thought I’d challenge myself to find a way to link WWE to financial advice.
While the two may seem worlds apart, there are valuable lessons financial advisers can learn from the spectacle of the squared circle. So what lessons can be learned from a 71-year-old company?
1) Embrace the spectacle
Just like WWE superstars captivate audiences with their larger-than-life personas, financial advisers can benefit from embracing a bit of showmanship. Engaging presentations, compelling storytelling, and charismatic communication can make complex financial concepts more accessible and memorable for clients.
As a visual learner, I appreciate when more complex subject matters are broken down in a simple and visually appealing way.
2) Strategy and planning
While it may look chaotic and nonsensical at times, in WWE, success often hinges on meticulous planning and strategic execution.
Storylines are planned out months in advance and most importantly matches are perfectly choreographed to prevent serious injuries. Everyone from those working backstage to the Superstars in the ring must work together to pull off a seamless show.
Similarly, financial advisers play a crucial role in helping clients develop long-term financial strategies and navigate unpredictable markets. By adopting a strategic mindset and staying ahead of trends, advisers can guide their clients to victory in their financial journeys.
3) Building trust and loyalty
WWE superstars cultivate loyal fanbases through authenticity, consistency, and trustworthiness. They are constantly on the road, 365 days of the year, in different cities, and different countries performing for those fans without a break. I can’t imagine this is easy but it’s what sets WWE apart from any other show or sport, they don’t have an off-season.
Now I’m not saying financial advisers have to be at the beck and call of their clients all year round. Still, they must prioritise building strong relationships based on trust, transparency, and integrity. By demonstrating a genuine commitment to their clients’ financial well-being, advisers can earn their trust and loyalty for the long haul. This can last for generations, in the case of WWE it’s something my father shared with me and I imagine I will pass it down to my kids someday.
4) Adapting to change
WWE is known for its ever-evolving landscape, where superstars must constantly adapt to new challenges and competitors. After Vince Mcmahon, the former CEO of the company for decades was ousted due to disturbing allegations, many worried that WWE would not recover from the damage this caused.
However Paul Levesque, stage name Triple H, took the helm and has been leading the company in a new direction which is already being touted as it’s best Era yet.
By embracing social media stars, partnering with new companies and developing new and enthralling storylines and cultivating a diverse array of talent within the WWE roster, Levesque has brought back excitement for the brand that hasn’t been seen since the 90’s, which can also be seen as the company’s stock prices continue to surge.
Likewise, financial advisers operate in a dynamic industry that requires agility and flexibility to navigate regulatory changes, market fluctuations, and evolving client needs. By staying adaptable and proactive, advisers can stay ahead of the curve and continue delivering value to their clients. By embracing new trends and technology in a way that makes sense for their business, financial advisers can stay ahead of the curve.
So at first, this seemed like a stretch but like any business, there is a lot you can learn from the evolution of pro-wrestling.
In the ring of wealth management, financial advisers are the true champions, guiding their clients to financial success with skill, strategy, and unwavering dedication. By embracing the lessons learned from the world of WWE, advisers can elevate their practice, inspire confidence in their clients, and ultimately emerge victorious in the arena of wealth management.
