It is time for financial advisors to move from a mindset of scarcity to one of ABUNDANCE; there are more than enough individuals to help and build a success business of any size. Once you are able to shift from scarcity to abundance you begin to realize the other financial advisors at other firms (or even in your own office) are not competitors.
They are your peers.
As peers, other financial advisors provide you the opportunity to learn from others, form relationships, build a support system, and even GROW your business through collaborating. I'm not a very stubborn person, but no one will ever be able to convince me that financial advisors are better off with a "me vs. you" mentality--the financial advisors I see having the greatest success are collaborating with other financial advisors in a variety of ways.
I just got back from Inside ETFs (shoutout to Matt Middleton, John Swolfs, and the whole Inside ETFs team) where Taylor Schulte and I led a peer-to-peer track about the power of collaboration. We share why collaboration is so powerful, what it can look like, what the outcomes could be, and how to start collaboration. We even had some collaboration in the session!!!
I had to be creative to capture this conversation--I used my lapel mics laid out on a table by the speaker to capture the audio. It's not perfect, but you can hear the conversation. We went off script a bit and had members of the audience ask questions and there was not a microphone for them, so their questions are a little hard to hear, but you'll get the gist of the question through the answers.
I hope you enjoy this conversation and start network to meet other advisors to collaborate with in the future!