New Ways to Make Money in 2019

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The way advisors are getting compensated is changing and this creates opportunities to expand your firm. To make more money in 2019, that means – you guessed it – leveraging technology to the max.

Train other advisors

If you’re a successful advisor, have you ever thought that advisors who are starting out would love to hear from you? There’s a scarcity of mentors in this space.

From a younger advisor’s perspective (Gen X and Y), there’s expensive sales training that may or may not be relevant to what they want to sell, and there are wirehouse training programs. That’s it. There’s no real standout they can use.

When I was an advisor, I had nobody to look up to who I felt was doing things in a way I would want to replicate. Given the demographics of Gen Y, young advisors are going to need this guidance in the future.

Create a program, market it online, hold in-person workshops or even get paid for hourly consulting. Gen X and Y advisors are great with social media – reach them that way.

They’re waiting for your inspiration, advisors!