With a Nod to Crystle Gayle; You're Either in it for the Long Haul, or You're Not 
By Don Connelly Maury was my first sales trainer and knew more about people and selling and this business than anybody I ever met. There was as much wisdom in Maury as to be found in a library; and true to the African proverb, when Maury died, a library burned to the ground.
There were all kinds of reasons to admire Maury. He was a good husband, a good father, and a good grandfather. He stood up when a woman sat at his table. He held doors for people. He was an immaculate dresser. He was kind. He had an impish smile. He was genuine. He was a world-class listener. And most of all, he had an uncanny knack for keeping things, no matter how calamitous, in perspective. Maybe it was because he was old and had seen so much, but the man refused to be rattled.
He loved to teach and I loved to learn. I've thought about Maury a lot over the years, sometimes out of the blue, sometimes out of need, always fondly. We were kindred spirits despite a forty year age difference. We both loved to sell, anything, anytime, anywhere. It was an innocent, fun love that we shared. I like to think that he knew I loved to learn more than anybody in that training class.
You can imagine how much I have looked to Maury's memory for rhetorical affirmation over the years. Maury, things are blowing up all around me. Should I get proactive in here? Should I be calling my clients? Should I push back against the crisis? Is the sky blue? Is the Pope Catholic?
Maury's perspective. I can absolutely imagine what Maury would say if he were here today and I were to give him the lay of the land. Business is slow, Maury, slower than it's ever been in my career. Even worse, clients are letting time slip through their fingers like grains of sand. They don't trust the system anymore. They don't trust banks, certainly not big banks. They trust a stranger passing by more than they trust Wall Street. They're slowly regaining trust in the market, but not enough to put their capital at risk. Last year they simply refused to participate in a huge rally. Mom and dad aren't broke, Maury. They are standing pat. They're on strike. So is my ability to make a living. This may be the granddaddy of them all.
Maury would let me finish. He never interrupted. Then he'd tell me what he told me during all those crises in the past. First of all, Donald, he'd say, the crisis you're in is always the worst one, especially when you've got your own money invested this time. The next crisis will seem worse than this one, believe me. And there will be a 'next crisis.' And one after that. And one after that. Life is not a constant bull market. Occasional slowdowns in business are a rather small price to pay for a career abundant with riches. And, of course, without volatility, there would be no need for you. We know that the more uncertain the times, the more certainty clients will demand from you. As conditions worsen, your strength must increase. The worse things get, the more visible you must be. Your clients know that this state of affairs is not your fault. But they also know that they gave you money in exchange for your promise to be there when you have nothing to sell.
Even at its highest level, this business remains a simple one. The client is simply saying to you, "Get me on stable ground, let me go live my life, get my kids through college, let me pay my taxes, get me retired. For that, I will reward you with fees or commissions." That doesn't change just because the market goes down from time to time. So, get out there and give them your wisdom. A Financial Advisor who wants to be in the inner circle simply cannot sit around waiting for things to improve. Let others journey aimlessly through their careers. You take control of yours.
Your job is to help people. As your income drops in down markets, keep your role in perspective. Personal income should not be your main driver. Making money is the wrong reason to become a Financial Advisor. The desire to help people is the right reason to become a Financial Advisor. The money is great in this business, and it comes as a result of helping people. The more people you help, the more money you make. If you're not making enough money, you are not helping enough people. Our incomes will ebb and flow throughout the years and throughout the markets. Our desire to help will remain a constant. And, believe it or not, as you heal people financially, you are healing them physically and mentally. That's worth more than all the money in the world.
Your job is to help clients deal with stress. Traditional doctors are trained to recognize illness and deal with it. What about preventing illness in the first place? Are you aware, as the family Financial Advisor, what an enormous role you play in preventative medicine? The majority of Americans today are stressed about money, often to the point of not being able to sleep. Anxiety and depression are commonplace. Credit card debt is forcing consumers to swim in a sea of hopelessness. A ceaseless underlying sense of panic will make anyone sick over time. You can do something about that. Just stopping frivolous spending by your clients is an enormously beneficial task. There may be several ways to deal with financial stress but none are as effective as having one's house in order. You do that for your clients. Because of you, a child can go to college and not borrow money. Because of you, a couple can retire and not stress about money. Do not take lightly your ability to heal in the bad times.
Navigating the tough times today will determine how successful you are tomorrow. The good news is that your working clients have not stopped earning money. A financial plan deals with future income as well as current income. Being there in the tough times now will ensure that you're around to invest that future income in the good times. How these clients perceive you in today's calamity will determine if you are to be the family's Financial Advisor tomorrow. Saving for retirement is just like driving to an appointment that you must make. Not showing up is not an option. Yet all of a sudden, you find that the way there is fraught with construction. Are you going to give up and subject yourself to ruin? Of course you're not. You are going to navigate the construction, all the while striving to get back on a normal path. And there will be a normal path again. To quote Abraham Lincoln, "It is said an Eastern monarch once charged his wise men to invent him a sentence to be ever in view, and which should be true and appropriate in all times and situations. They presented him the words: "And this, too, shall pass away."
Once again, let me remind you that what has happened is not your fault. You are not paid to be right all the time. What you are paid to do is give your best effort every day. This business is not a science. The question is not whether you were right or wrong. The question is whether you were honest with yourself and your clients every day. If you can tell me everything you did was your best effort and you were honest at all times, I can tell you that you can stand tall.
Be the bodyguard for your clients. Donald, wealthy people throughout history have employed bodyguards to protect them from those who wish to steal their wealth. You, as the trusted family advisor, are a financial bodyguard. That is not a part time job. As traditional yields languish, clients instinctively look for alternative vehicles with a bigger payday. That's never a good idea. Certainly seducers never stop trying to seduce. Just as Bernie Madoff's image begins to fade away, the image of Tom Petters emerges from the shadows. You may not be suggesting investments to your clients, but others are. Head off those suggestions. Be the bodyguard.
Your role is secure. Do you know the greatest thing about your business? They can't do it without you. All the talk today is how the internet is cutting out the middle man. Beware the glut in commercial real estate, because there is no longer a need for the small business owner. You can buy it on the internet. Well, maybe you can buy shoes and cars over the internet. You sure can't buy advice that way. The data is commoditized. The knowledge is not. As long as clients have goals, the role of the Financial Advisor is secure.
Tough times prove your worth. Bottom line, Donald, you earn your money in tough markets. Cherish them. This is when you are needed most. Guide your clients through this crisis and prepare them for the next one. Get them on stable ground. Give your best performance every day. Be there when you have nothing to sell. Help people and the money will come. Be a healer. And allay your clients' greatest fear. Keep them from being poor.
I've always admired people with perspective. That's precisely why I've never forgotten Maury.
Crystal Gayle was right when asked about getting through the inevitable setbacks on the way to success. Either you're in it for the long haul or you're not. - You can reach Don through his website: www.campconnelly.com
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