Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG
How having daily guiding principles will help you as an advisor stay focused.
The most successful financial advisors possess discipline and focus. Many follow a set of rules they have created based on their experience over time. It is this adherence to these principles that make them successful.
This was certainly the case with another famous financier, Baron Rothschild. He was a member of one of the richest families in the world. By the 19th century, they ran a financial institution possessing the power and influence of a combined Merrill Lynch, JP Morgan and Morgan Stanley.
I read recently that after his death in the early 1800’s, as his executors were going through his belongings they ran across a list of the rules he followed to achieve his success. Sound principles like this never go out of style. I offer them to you today for your consideration.
1) Carefully examine every detail of your business.
2) Be prompt.
3) Take time to consider and then decide quickly.
4) Dare to go forward.
5) Bear your trouble patiently.
6) Maintain your integrity as a sacred thing.
7) Never tell business lies.
8) Make no useless acquaintances.
9) Never try to appear something more than you are.
10) Pay your debts promptly.
11) Learn how to risk your money at the right time.
12) Employ your time well.
13) Do not reckon on chance.
14) Be polite to everyone.
15) Never be discouraged.
16) Work hard and you will succeed.
What does all this have to do with you as an advisor? A lot. The more you know and can relate to the people that you deal with everyday, the more successful you will be. As much as our world has changed, the basics of success have not changed.
So, what’s preventing you from making a difference today? In a word, nothing. Success is based on a high level of striving,day after day, in everything you do. Just be better today than you were yesterday. One step forward each day and you’ll be surprised at how much ground you can cover in one year.
It’s important to understand that you never actually arrive. Success is truly a journey and not a destination. It’s a journey of seeking and learning in each situation, trying to better yourself as a human being.
Do you have a set of guiding principles for your business? I have found that whatever captures your heart will determine how you live and how successful you become.
Mike Sciortino has more than 30 years of experience in the investment management business. Mike speaks at Conferences and writes often about how advisors can differentiate themselves, grow their practice, and improve their lives through time-tested processes. See all of Mike’s stories for CMG Advisor Central. Connect with Mike on LinkedIn.
