Wedding bells — or alarm bells?
What to do when you suspect an elderly client is being manipulated in a late-life relationship
By Allan Janssen |May 27, 2024
4 min read
News and resources for Canada's top financial advisors
Wondering how to best manage your team or grow your client list? Not sure how to deal with a particular client? If these questions are on your mind, reach out to Advisor.ca and our columnist, Joanne Ferguson.
The veteran consultant, personal coach and author will be sharing her knowledge and answering your questions in her column – ‘Ask The Expert: Best Practices’. Backed by over 20 years of experience, the owner and president of Advisor Pathways will be addressing your business, career concerns.
To send along your questions for Joanne’s next column, send an email to AskAdvisor@advisor.rogers.com
Dear Joanne,
When it comes to CFP, I am doing so well. The problem is, I don’t know how to list my expertise in so many areas. Should I just pick a few? How does one usually list their designations and expertise and how? Is there an acceptable way? I always find it hard to sort these out.
Andrew
Dear Andrew,
Showing clients that you continue to expand and enhance your knowledge is always a good thing. Your continuing education allows clients to know you are keeping current within the industry. Good news on the CFP front! Your firms marketing department might be able to help you highlight your areas of expertise and they may also have rules and regulations that need to be followed as well. I see many business cards with all the titles on them but a question to ask yourself is…Have you ever had a client ask you directly what any of them stand for?
Be prepared but also know that you can expand on the benefits to the client in a printed or web format.
On a website you can list your designation under your profile and let the client know the benefit of the designation. What does this mean to your client?
On a one-page profile you might just list your designations after your name as you would on a business card. It is really important to educate your clients on how you can help them. Many clients might come to you for one reason only but when speaking with friend they should be able to say, “My advisor Andrew could help you with that”, let your client or centers of influence tell your story for you.
Also remember it is good to have a niche but it is even more powerful that you get referrals from clients outside your niche. You need to think about what part of the process you do well and promote your area of expertise. Provide examples of how you helped a client with specific situations and what the outcomes were, similar to a case study format.
Joanne,
I am 24 and have just begun my career in the financial advice industry. The problem is, it seems I am surrounded by and the industry is populated by people considerably older than me. There are very few young people I can relate to. Just in points of view and approaches, I find I don’t share a whole lot with my colleagues. Can you give me any advice on how to bridge that generation gap as I feel if I cannot begin to relate to them, I may not go far.
Shelly B.
Dear Shelly,
Yes, the industry has changed. For years now many firms are hiring individuals that are transition to a second or third career to become an advisor or hiring individuals to go directly on a team. However, there are still many young women and men coming into the industry.
When I started I was the youngest in my branch (younger than 24) for quite some time but I just did my job and did it well. I have always been comfortable around older people as they have such a wealth of experience and rich stories to tell which I love to listen too but what you have to remember is that you have new knowledge, you come to things with a fresh set of eyes. Maybe pairing up with someone as a mentor might be a good way to connect and learn?
You will go far if you have determination, a plan and are committed to the journey you have begun. It is not about THEM it is about YOU. I am hearing some excuses about why it will not work. Please think about what you need to do to move forward and keep on going! If this is really where you want to be…if so…
Stay true to your vision and if something new comes along, you look at your vision and it doesn’t fit in one of the three strategies, then think twice about the energy you allocate towards this new idea.
Another thing you can think about is setting up a chat group or networking group for other young advisors in the industry, as there may very well be other advisors out there feeling the same way!
Good luck!
Dear Joanne,
I hate to say it but the company I currently work for is very top heavy. It seems the upper management get all the perks and are only concerned with protecting their positions and the rest of us are just left to fend for ourselves. There is no middle ground between the upper management and us, and therefore no room to grow. I am at a crossroads. I don’t know whether to stick it out and maybe I will be rewarded or is it time for me to move on. I really believe in the company, just not the way it is structured.
Dominic
Dear Dominic,
Never be afraid to state your opinion as it is yours and if that is how you are currently feeling it is valid.
Yes, when there is fear of something as you mentioned in this case of protecting a position people can get very “I” or center focused.
Do you feel you work hard? Are you true to what you believe?
Good things will happen to those that stay focused and committed. If you believe in what the company stands for then you are in the right place however maybe some of the people they have on the bus are wrong.
Scenario: You decide to leave because you do not see growth or room for movement then you find out the next day structural changes have taken place and there is an opening that is ideal for you. How would you feel about that? Good? Bad? Indifferent?
If ethically you feel you are not happy being there then again that is your choice. Make a choice you will be happy with. Choices are difficult but if you really take time to think about what you really want, you will likely come to the right conclusion. Go with your gut I say…
Joanne Ferguson is the owner and president of Advisor Pathways.Wondering how to best manage your team or grow your client list? Not sure how to deal with a particular client? If these questions are on your mind, reach out to Advisor.ca and our columnist, Joanne Ferguson.
The veteran consultant, personal coach and author will be sharing her knowledge and answering your questions in her column – ‘Ask The Expert: Best Practices’. Backed by over 20 years of experience, the owner and president of Advisor Pathways will be addressing your business, career concerns.
To send along your questions for Joanne’s next column, send an email to AskAdvisor@advisor.rogers.com
Dear Joanne,
When it comes to CFP, I am doing so well. The problem is, I don’t know how to list my expertise in so many areas. Should I just pick a few? How does one usually list their designations and expertise and how? Is there an acceptable way? I always find it hard to sort these out.
Andrew
Dear Andrew,
Showing clients that you continue to expand and enhance your knowledge is always a good thing. Your continuing education allows clients to know you are keeping current within the industry. Good news on the CFP front! Your firms marketing department might be able to help you highlight your areas of expertise and they may also have rules and regulations that need to be followed as well. I see many business cards with all the titles on them but a question to ask yourself is…Have you ever had a client ask you directly what any of them stand for?
Be prepared but also know that you can expand on the benefits to the client in a printed or web format.
On a website you can list your designation under your profile and let the client know the benefit of the designation. What does this mean to your client?
On a one-page profile you might just list your designations after your name as you would on a business card. It is really important to educate your clients on how you can help them. Many clients might come to you for one reason only but when speaking with friend they should be able to say, “My advisor Andrew could help you with that”, let your client or centers of influence tell your story for you.
Also remember it is good to have a niche but it is even more powerful that you get referrals from clients outside your niche. You need to think about what part of the process you do well and promote your area of expertise. Provide examples of how you helped a client with specific situations and what the outcomes were, similar to a case study format.
Joanne,
I am 24 and have just begun my career in the financial advice industry. The problem is, it seems I am surrounded by and the industry is populated by people considerably older than me. There are very few young people I can relate to. Just in points of view and approaches, I find I don’t share a whole lot with my colleagues. Can you give me any advice on how to bridge that generation gap as I feel if I cannot begin to relate to them, I may not go far.
Shelly B.
Dear Shelly,
Yes, the industry has changed. For years now many firms are hiring individuals that are transition to a second or third career to become an advisor or hiring individuals to go directly on a team. However, there are still many young women and men coming into the industry.
When I started I was the youngest in my branch (younger than 24) for quite some time but I just did my job and did it well. I have always been comfortable around older people as they have such a wealth of experience and rich stories to tell which I love to listen too but what you have to remember is that you have new knowledge, you come to things with a fresh set of eyes. Maybe pairing up with someone as a mentor might be a good way to connect and learn?
You will go far if you have determination, a plan and are committed to the journey you have begun. It is not about THEM it is about YOU. I am hearing some excuses about why it will not work. Please think about what you need to do to move forward and keep on going! If this is really where you want to be…if so…
Stay true to your vision and if something new comes along, you look at your vision and it doesn’t fit in one of the three strategies, then think twice about the energy you allocate towards this new idea.
Another thing you can think about is setting up a chat group or networking group for other young advisors in the industry, as there may very well be other advisors out there feeling the same way!
Good luck!
Dear Joanne,
I hate to say it but the company I currently work for is very top heavy. It seems the upper management get all the perks and are only concerned with protecting their positions and the rest of us are just left to fend for ourselves. There is no middle ground between the upper management and us, and therefore no room to grow. I am at a crossroads. I don’t know whether to stick it out and maybe I will be rewarded or is it time for me to move on. I really believe in the company, just not the way it is structured.
Dominic
Dear Dominic,
Never be afraid to state your opinion as it is yours and if that is how you are currently feeling it is valid.
Yes, when there is fear of something as you mentioned in this case of protecting a position people can get very “I” or center focused.
Do you feel you work hard? Are you true to what you believe?
Good things will happen to those that stay focused and committed. If you believe in what the company stands for then you are in the right place however maybe some of the people they have on the bus are wrong.
Scenario: You decide to leave because you do not see growth or room for movement then you find out the next day structural changes have taken place and there is an opening that is ideal for you. How would you feel about that? Good? Bad? Indifferent?
If ethically you feel you are not happy being there then again that is your choice. Make a choice you will be happy with. Choices are difficult but if you really take time to think about what you really want, you will likely come to the right conclusion. Go with your gut I say…
Joanne Ferguson is the owner and president of Advisor Pathways.
