Here’s how you can thrive in your first year as a financial planner in Singapore

Starting out in your first year in any career is always difficult—the rookie mistakes, the fear and anxiety over how well you can perform compared to your peers can be daunting. Regardless of the industry or the line of work you are in, thriving in your first year will surely put you on the path to success.

Thomas Tan from KWO started his career as a financial planner 4 years ago. In his previous career, he was an engineering sales manager for a corporate company. There were many challenges and hurdles he faced as a rookie agent, but he managed to persevere and became the successful planner he is today. In fact, he would like to share his success story with us by giving tips on how financial planners who have no experience can thrive during their first year.

Stay determined and never give up

During his first year as a financial planner, Thomas received many rejections from all sides. Although some of his friends were encouraging, some were absolutely convinced that he would not make it as a financial planner and even distanced themselves from him. But he never wavered, he learned how to handle rejections and to perceive it as rooms for improvement. Despite the pushback from his friends and clients who shunned him away, he knew that if he worked hard and stayed determined to the very end, he would come out on top. In his words, “Don't compare yourself with others. Just be a better version of yourself compared to yesterday.”

Keep yourself motivated

Motivation is a powerful driving force, it pushes you to perform your very best to achieve the goals you desire. For Thomas, his main motivation is his family. As a father and a husband, the fear of not being able to provide for his family motivates him to overcome the trials and tribulations. In addition, he is also motivated by the mere satisfaction of building up close relationships with his clients and becoming friends with them in the process. The earnest and genuine relationship built over trust and confidence are something that Thomas holds dear to. It further drives him to provide the best quality services for his clients. He advises beginners to find something that motivates them to do their very best—something that is worth pushing themselves over the limit.

Listen to your mentors

“First-year financial planners should have an open mind and listen to their mentors and managers,” Thomas says. He emphasised that the learning curve to becoming a planner is steep and the skills needed in the industry are always changing. Beginners should be willing to change their mindset and listen to their mentor’s advice in order to learn from their mistakes and never repeat them.

Enhance your calling and networking skills

“If I could have done something differently back then, it would be to enhance my calling and networking skills.” Thomas stressed that as financial planners, they have to constantly stay in touch with their existing clients but also branch out to attract new ones. One advice he would give to rookie planners is to make calling and networking part of their daily routine to increase their chance of getting prospects. He stated that it is difficult for rookie agents to find clients compared to established and seasoned financial advisers who already made a name for themselves in the industry, hence the need for networking and building their network in their first year.

Have the passion to learn

Financial planners do not just sell insurance plans and policies, they are a group of professionals who are held accountable to their clients’ financial health. Thomas states that first-year financial planners should constantly upskill themselves and have the passion to learn. The industry is constantly changing with technology and market trends and skills such as good communication and negotiating skills are essential in this industry. Regardless of their experience or expertise, financial planners should always stay up to date with the latest news in the financial industry and pick up new skills to expand their field of expertise. Thomas’s final advice? “Don’t stop learning, that’s my advice.”

It is not easy being a financial planner during the first year. The road to success is an arduous and difficult one. Without proper guidance, it can be really difficult for new and inexperienced planners to get off to a good start.

At KWO, we have mentors who will show you the ropes as you begin your career as a financial planner. We will provide you with marketing support and offer you guidance in order to help you thrive in your first year into the business. If you are interested to discover your full potential with KWO, come and join us now!