With Christmas fast approaching, aspiring advisers and new entrants to the profession may be looking for productive ways to fill their free time over the festive period.
There are many career-related books and podcasts available but, to save our readers the legwork, we have created a shortlist that should contain something for everyone.
Staying informed
Keeping up to date with government policy and regulatory developments in the UK financial services industry can be challenging even for the most experienced professionals. Fortunately, consumer group Fairer Finance pulls the main talking points together in the Fairer Finance podcast.
Fairer Finance managing director James Daley, who co-hosts with other team members, explains that the podcast is designed to be an accessible way for people who work in financial services to keep on top of regulation and government policy that are constantly moving.
First-hand stories provide practical insight into training, early career development and what it takes to build a successful practice
“We’re trying to make it as fun as regulation can be – and accessible,” he says. “We know we’ve got a range of listeners from across financial services, so we try to explain what we’re talking about as we go and not assume too much knowledge.”
If aspiring advisers want to immerse themselves in a book, N-Accounting managing director Nishi Patel suggests Stephen R Covey’s The 7 Habits of Highly Effective People: Powerful lessons in personal change.
This self-help business book is broadly about how changing ourselves and situations starts with a change in our perceptions. It walks the reader through ‘habits’ such as being proactive and beginning with the end in mind.
“In my experience, wealthy investors tend to demonstrate these habits,” says Patel. “Being able to align your behaviour to theirs is incredibly valuable when trying to gain their trust.”
Changing career
Some aspiring advisers will be career changers who may be looking to run their own business. St James’s Place (SJP) has the perfect podcast for them: The Switch.
“The Switch combines inspiring career stories with actionable takeaways across psychology, business and personal development, all highly applicable to advisers starting out,” says podcast host Gee Foottit, SJP Academy recruitment campaigns and partnerships lead.
Financial advisers deal with emotions all the time. They also need to be aware of their own emotional needs
“It addresses the real challenges new advisers and career changers face: building confidence, improving communication and personal brand, understanding client behaviour and developing a resilient, growth-focused mindset.”
Guests include behavioural science expert Rory Sutherland and ex-FBI body language specialist Joe Navarro. But some of the best insight comes from SJP partners, who share their experiences of joining the profession.
“Their first-hand stories provide practical insight into training, early career development and what it takes to build a successful practice,” says Foottit.
Second careerists often find their way into advice after searching for a more meaningful career. Writer and psychotherapist Eloise Skinner has addressed this in several books, most notably The Purpose Handbook: A beginner’s guide to figuring out what you’re here to do.
Skinner describes this as a practical guide to finding purpose, which is perfect for people looking to define values and find meaning in financial planning as a career.
We’re trying to make it as fun as regulation can be – and accessible
“Starting out with a clear sense of values and purpose can provide the resilience, determination and passion needed to thrive in a new industry,” says Skinner.
“This could be especially the case for a career that focuses on assisting/supporting clients directly, since having a clear idea of purpose around this can make the job feel much more meaningful.”
Exams and things
One of the higher-profile podcasts focused on financial planning as a career is Financial Planner Life, hosted by Sam Oakes. It covers a range of topics related to financial planning careers and is consistently in the top 10 Apple Podcast rankings for Careers and Business, with more than 10 million impressions a year.
Foottit sees it as a useful resource for aspiring advisers and points out that the SJP Academy recently contributed to an episode on passing the Chartered Insurance Institute’s RO exams.
Finally, The Heart of Finance – Emotional intelligence for financial planners by James Woodfall and Cliff Lansley is a worthwhile read because it focuses on the emotional connection needed to build a trusting relationship with clients.
Starting out with a clear sense of values and purpose can provide the resilience, determination and passion needed to thrive in a new industry
The authors explore topics such as different communication styles and how to approach difficult conversations with clients. Co-author Woodfall, a former financial planner, says emotional intelligence is fundamentally about communication.
“If you are high in emotional intelligence, you perceive emotions in others and use that information to enhance communication,” he says.
“Financial advisers deal with emotions all the time; it’s a stressful job. They also need to be aware of their own emotional needs.”
Amanda Newman Smith is features writer for Money Marketing
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For more practical information on how to get started in financial advice, please visit our Future Financial Adviser community. We tell you how to take the first steps, how to get ahead and what attributes you need to flourish. Even better, we can put you in touch with helpful contacts.
