What FAs Can Learn From LeBron
Even if you know nothing about basketball, you probably know LeBron James – the face of the NBA, a marketing demigod, and a potential role model for many financial advisors.
As a leader, and from what I have read and personally know, LeBron has always set a high bar.
- He is often the first one to practice and the last to leave. Do we set that example for our team?
- He improves a part of his game every off-season. One of the greatest in the world is inspired to get better. What are we doing to make us better?
- When he played in Miami, Coach Spoelstra said he was quite coachable. Are we coachable to change and improve?
- He is tenacious about winning. How closely is winning (great customer service and growth) tied to our professional brand?
There is no shame in wanting to win.
A few weeks ago LeBron announced he had signed to play for the LA Lakers. Fans across the NBA and especially in Philadelphia, Houston, and of course, Cleveland, were left to wonder why.
A hint may be this quote from earlier in his career, when he left Cleveland the first time.
“I just didn’t have the level of talent to compete.”
FAs need to ask themselves, how much are we like LeBron? We need a team around us to help us succeed. If we were a free agent like LeBron, would we move? Are things better on the other side? Or is where we are now the best scenario for us?
For FAs, part of our team is our Broker Dealer (BD) and, like LeBron after being swept by the Golden State Warriors, we may find ourselves questioning whether or not our BD provides the necessary tools for us to compete.
Does your current BD support you properly? Are you fighting with sub-par technology? Hindered by lower payouts? Subjected to unnecessary scrutiny? Are you finding it harder to do business because of actions outside of your control? Do you have a weak team to compete with the best?
Are you at a place where you feel confident you can win?
If not, now might be the time to start thinking about a transition to a new BD.
At 3xEquity we help financial advisors with one of the most important career decisions they will make. We’ve seen a spike recently in advisors wanting to learn about opportunities with other BDs.
In the last year we’ve connected 400+ advisors with offers from top BDs via our proprietary Transition Offer tool. Throughout the process advisors control the conversation, remaining completely anonymous to the BDs until they decide the time is right — you are an anonymous free agent until you decide to have your name released.
Different BDs and NBA Franchises have different strengths and they provide a range of support based on their unique philosophies and financial position and team. These variables can have a huge impact on your ability to succeed and achieving the most for your clients.
Having guidance along the way is important and I encourage you to reach out to me personally or connect with my team through the Transition Offer tool to get started. You’ll have 2 offers on the table and have an idea where your talents are most valued. You’ll know where you are likeliest to secure your own version of the championship ring that has eluded LeBron the past two seasons.
LeBron allowed himself to be recruited. He did it quietly, did his homework, looked long term and asked himself what team he wants to grow with and took on some risk. Where do you want to go in your career?