Intelligent Investing # 62 - Glenn's Favorite Part of Being a Financial Adviser

In this episode Glenn talk about some of the reasons he got into the industry as well as the thing he enjoys most about this line of work. 

• Helping Clients reach their goals
• Time  Flexibility
• Creative control on Marketing
• Monetary Rewards
• Interacting with lots of different people
• Being to use my brains and not my bronze
• Building Relationships

Glenn Leest
Senior Investment Adviser
WT Wealth Management
928-225-2474 Office
INTELLIGENTINVESTING@WTWEALTHMANAGEMENT.COM

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Glenn Leest
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WT Wealth Management
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Transcript

You are listening to Intelligent Investing with Glenn Leest.  In today's episode, we're going to talk about some of my favorite things about being a financial advisor. Last episode, we talked about the challenges. This episode we're going to talk about. Things that I really enjoy. So going to be a great episode. Make sure you turn in, let's get to it.

All right, Glen leased here recording another episode in the Beaver Street Office studio. And, um, Last episode, we talked about some of the challenges of being a financial advisor of why it's so challenging from the finances, you know, to the rejection, to the effort, to the, um, number of people you have to talk to.

So I kind of painted a picture of how the, you know, what it takes to be successful in the industry and why a lot of people fail. Um, you can have someone that has. A great resume and looks like they're going to be successful and it just, sometimes it just doesn't work out. I think one of the core components to be successful in this industry is just grit, if I can explain it that way.

A perseverance, just a, a, a unwillingness to give up no matter how hard it is. And, and that has definitely been something that has been a characteristic of mine is that, uh, Even to a fault. I'll just continue to, you know, try, try, try. In fact, my um, senior yearbook quote was, um, you know, uh, it talked about, Shoot, what did it say?

I'll come back to that. Um, anyway, so, so my, uh, my personality is just like, Hey, I want to, I want to make it happen, and I'm willing to fail over and over and over again if that's what it takes to become successful. So one of the things that really drew me into this industry is, um, one of my friend's dad, um, you know, I went to college with a friend and his dad was in the industry, and so I kind of got a firsthand look.

What life was like for him, um, in this industry. And I was really attracted to the time flexibility That was something that, you know, was important to me. I wanted to be able to get my work done, do what I need to do, and then if I need to take time off, take time off. And in a normal job, you can't just do that.

I mean, you're kind of at the mercy of your boss's schedule, what their needs are, all that. Whereas, you know, this, this job, if. Uh, want to take some time away or go on vacation or say, I want to go to my little kid's t-ball game, you know, and then work hours elsewhere outside the, the, uh, the week that, that's doable.

And so I had the flexibility to create my own schedule. My, my previous career I was a paramedic and, um, there was very little time flexibility and you worked long shifts and, uh, That was it. Uh, you couldn't just say, I'm going to show up, you know, a little bit earlier, a little bit later that day. No, you had to come in exactly when you're scheduled and they dictated the time.

So being able to create that flexibility long term, um, to be able to be involved with my kids' life, to be able to do things at the church, that was huge. I wanted to work a career that allowed me to put as much time as I wanted to into the causes, into you. Uh, doing work at the church. Um, I'm on pastoral staff at the church, and so that was important to me.

I wanted to work a career that allowed me the flexibility to say, Hey, if I, if I want to go do this event or project or service, whatever it is that I could do, that I could just work my schedule around it, kind of build out my, you know, availabilities. Um, so the way kind I do, I do with my calendar is I book all my personal appointments, everything I want to do, even some of the things that I need to do for my own health and wellness.

I book out my, uh, workouts, book out my personal appointments, my doctor appointments. If I have a massage, book those out, time away for just me to be me and maybe study time. I block that out. So once I put it in the calendar, um, that time is not available. So my office administrator, who does a lot of scheduling can see when I am and when I'm not available, and if I need to be out of the office for a certain period of.

For whatever reason, I'll just block it out and say, Glen out of the office. And so I can work around, you know, that schedule. Now the only caveat with that is, um, I have to be available to meet with my clients on their timeframe too. But most of the time that's never an issue. When they want to meet, I make it happen.

Um, so the time flexibility was huge. Um, one of the other things that was really attractive was the, um, the, the financial side of this industry. Um, I saw my friend's dad, um, live. Really good lifestyle. Um, they were, you know, not hurting for money. Um, they. Toys, they're able to give money away. They're able to just be more at peace in that industry, allow them that, that opportunity.

Whereas my previous industry, when I was working as a paramedic, you know, there there's only so much money you're going to make. Even if you get pay raise or whatever, you're not going to make, you know, six figures as a, as an EMT or paramedic. It's just not going to happen. And life is expensive right now. I kind of realized that early on is, uh, I wanted to work a job that.

Really rewarded my effort. Cause I worked a lot of jobs that I would hustle, I'd do a great job, you know, try to be excellent at everything. And it just went unnoticed. My boss didn't care. Or even if they did care, they couldn't gimme a raise cause it wasn't in the budget. And so I just got kind of got, you know, kind of created in me this.

Weird perspective where, you know, I was like, why try any, try anymore? You know, to go above and beyond when it doesn't make any difference at all. Like I'm not getting any favor treatment, not getting any kudos, not getting any financial compensation for doing that. So I'm just going to do the, an adequate job.

I'm just going to do what's required of me, but nothing more. Because going above and beyond takes. Effort and it's a sacrifice and it's, uh, exhausting. So that, that I realized was kind of toxic for me, and I wanted to go back into a career that rewarded efficiency, rewarded, you know, hard work, rewarded, you know, um, being effective at what they do.

So I knew this job was one of those. Careers that the better I get, the more skills I develop, the more I work, I can see the immediate payoff. And, and I kind of knew that already cause I'd worked sales for a long time in the cell phone industry and I kind of got a taste of it because, you know, if I really hustled and called lots of people and made a lot of deals happen, you know, on a, on a Saturday or whatever, I would see the direct, uh, result of that next pay period.

And sometimes even saying that the same day, if I got like a special. Incentive bonus. Um, a lot of times my, my, uh, bosses at those jobs didn't want to, didn't want me to take lunch because they were like, oh, Glen's not going to be on the floor. And our, our productivity's going to go down, so we'll just order Glen lunch and, you know, he can go in the back room and eat for five minutes.

But, you know, They, they even were talking about like hooking up a little IV to me so I never have to, you know, take a break and drink water there. Like you can just keep selling the whole time. So, um, I liked that industry that, because it did reward my effort a little bit more. And just my mentality is that was, um, you know, I liked that challenge.

I liked, you know, kind of, you know, Making it happen and, and negotiating it was just, for me, there's just a, an excitement with that. So I knew the financial side was also a component as well as the more I work, the more successful I am for my clients is the more successful I am personally. So, um, I liked that arrangement where if I help my, you know, enough with my client's dreams come true.

Ultimately, my dreams are going to come true as well. So I knew that was an industry that was possible. Some other industries that, you know, I I would say would be similar in your income potential is really any kind of sales. Um, sales positions have almost an unlimited, um, Earning potential. Now it gets to a point where you start to get capped off and you hit capacity, but, um, that's when you kind of develop a team or elevate, you know, your, your type of business.

But, um, sales is, you know, just a, you know, a great industry, but it's not for everyone. Not everyone wants to go out and, you know, be, you know, Extroverted and be outgoing and talk to people and build relationships. Uh, that's not for everyone. And I realize that, and actually sometimes I'm kind of thankful that not everyone has that same mindset, because if it was, I'd have a whole lot more competition out there.

So, um, the, the financial side was really lucrative. Um, the other thing that I really liked about this industry is, um, Being able to help people. That was something that was important to me is, yeah, I want to do well and, you know, enjoy my work and make money, but I also want to be able to help people. That's why I was a paramedic before is I truly wanted to help people when they needed it the most.

Um, but being a paramedic and helping people is very different than being a financial advisor and helping people, uh, a whole different level of stress. Um, yeah. I always tell my clients sometimes like, well, you know, we're all get to leave this room alive. Right? Whereas my last job. Maybe not the case, you know, depending on what happened.

So, um, it's just different as far as the stressors go. So, uh, I wanted to help people, um, and I felt like helping them with their finances and investing was another avenue that would work really well for me. And it wasn't as, didn't have the same level of stress, um, as a paramedic. There was. The reality of being a paramedic is the decisions you make, um, really drastically affect people almost instantaneously.

And if you make the wrong decision, you know, your, your decisions could, you know, ultimately lead to someone, uh, dying or not making it. And that's just a heavy, was a heavy, tall order for me. Um, thankfully I never had that happen under my watch. But, um, you know, I was doing it for four or five years and I was like, man, it's only a matter of time before that scenario happens.

And when it does. Am I going to be just ridden with guilt, you know, because I, in my. Sleep deprived state on the 20th call, I, you know, mix something up or didn't do it right or made a mistake cause I'm human. Um, so anyways, I wanted to help people and, and I noticed that, um, me growing up, there wasn't a whole lot of education in our household about money, about saving and about investing.

Uh, we were just kind of trying to survive. I, um, It grew up, um, with the stepdad for a couple years, and then after that my mom was a single mom. Um, and so it was kind of just like a survival of the fittest and we had to just do what we needed to do to make it. And, uh, you know, there was that real reality of, uh, um, I, I, I might be hungry today.

Um, but, but my, what my point is, is that there just wasn't, when you're in just survival mode, you're not really thinking about, you know, down the road or how you can continue to be successful or grow upon your success. It's just, you're just thinking about here and now and, and being able to make it through.

So I, I wanted to be able to help people in that way because it was an area that I myself wanted to get better in. So, as I would get better in that area, as I'd learn more and grow, learn about investing, saving, budgeting, finance. I would get, you know, education from my, and benefit me and it'll benefit my clients.

So that was the other thing that was, uh, really attractive is the more I learned, the more successful I was going to be, both in my business and personally. Um, so that was the, an attractive thing about this industry. Um, I, I like, you know, the other thing that I really like about this industry is, um, the, um, the marketing component for me, it's almost, uh, Some people hate marketing, you know, they hate going out there and, you know, showing people what they can do and what they can offer and, you know, providing their good service.

Um, some people just don't like doing that. Um, I actually found it to be exciting, you know, how can I position my, my communication or my messaging so that way. People are intrigued or interested or attracted to the work that I do. And so it was almost kind of like this game of like, how can we be as efficient as possible?

And as time goes on, I've, I've gotten better and better at it. Um, and, uh, but in the beginning you find a lot of what not to do. And that was kind of me. I was. Failing so much and trying things, kind of just throwing stuff up against the wall, hoping it stuck, stuck, and, uh, not a lot of it stuck. So, um, I like the marketing component.

That's something I also like as well, is I, I find marketing just fun for me. Like, I always like watching advertisements and try to see their angle, you know, how they're trying to convince me or persuade me to use their product. So, um, I just, I just find it fun. Um, I would, I would do great if I made commercials.

I think I'd make the funniest commercials. That would be compelling. You're like, after you're done watch it, you'd be like, oh man, I definitely need to buy that, whatever. So, um, the marketing component was, it just seems fun to me and exciting. It's a challenge, like, how can we, because there's, there's a lot of ways not to do marketing and do it wrong or not to be effective.

And so for me it was almost like this puzzle. Like, okay, I found out one way that didn't work. Found out one way that did, how do I continue to just move around the pieces to, you know, get the pieces to fit and, and complete this puzzle and, you know, be able to build that connection. Um, the other thing I liked about this industry that I still like to this day is, um, I was always kind of a social butterfly.

And, uh, growing up in high school, you know, had a lot of different people I talked to a lot of. Different, you know, social groups and I kind of would just kind of mingle with a lot of different, I mean, I had my core friends, don't get me wrong, but I kind of liked going to the different groups and the different social settings and kind of, I don't want to say being a chameleon, but being able to relate to people.

I guess that's the thing is being able to relate to someone, no matter. Who they are, what their interests are, you know, how can I find common ground? And so that part of the business I've also enjoyed as well is, um, understanding people relating to them, um, building that connection because uh, this is the industry that people don't care how much you know until they know how much you care.

That's just the reality. And um, when you build that connection, build that bridge. You know, you know, help build that relationship. It becomes um, you know, very, uh, satisfying because you know that you're helping them, you understand them, they really value what you do. And uh, it just becomes a great, you know, two-way, you know, uh, road, a great bridge.

Um, so that was always a fun part of it. Um, and I just naturally like talking to people. I'm a talker for sure. Um, , I had one client, uh, I was just doing a Zoom meeting and um, she's like, Glen, Glen, Glen, uh, I need to slow down a little bit. You're talking pretty fast. I was like, oh, I'm sorry. I had a lot of coffee today.

And she was like, okay. But it, it's also because English is not my first language, you know, French is my first language, so, you know, I'm always. It takes a little bit more time, so just slow down a little bit. You're getting excited, passionate, which I'm like, okay. Yeah, you're right. I am. Um, so, you know, just connecting with people and building bridges, um, talking to a lot of people.

I'd much rather talk to people than, than do manual labor. Uh, I've done manual labor, I've done landscaping. I. Dug ditches. I've done really backbreaking stuff and that was, I guess, fine when I was younger, but the older that I get, I'm like, you know, I don't want to be swinging a hammer and doing hard labor well into my sixties or seventies.

Cause I've seen those people that, you know, have been in a, you know, labor intensive industry as they get older and their body just starts to break down and it's really hard on them. So, I'm. I'm like, ah, I much rather use my, my talking abilities and my brain instead of my, just my bra, which I'm okay with using at time and time.

But I just, uh, I liked that ability that a lot of my job entailed, you know, talking with people and providing solutions. You kind of listen to what people have to say, you know, understand them. And that's something I, I try to do in the very beginning before I start making any recommendations or any thoughts or even telling them a whole lot of what we do.

I'm like, well, let me understand you. You know, what's important to you? What are some of your goals? What are some of your challenges? You know, how can we help you? Um, and so I get to kind of listen, absorb, you know, ask kind of qualifying questions, um, find out more information about their, you know, financial situation.

And then I can have like this kind of, this picture of the client and go, okay. I got a better idea for, you know, what they need to do, how they feel about investing, you know, what worries them, um, what they, you know, want to have done, what they want to achieve. You know, we can kind of come up with a game plan or a recommendation to get them in that direction.

And that part of the job is really satisfying, um, because the. The impact that we make, you know, in some people's lives is, is truly amazing. Um, go find someone that maybe hasn't had a financial advisor and has made a lot of, uh, financial, uh, mistakes or decisions that weren't in their best interest. And if you ask them, Hey, you think of having a financial advisor, investment advisor in your corner would've been great.

They'll probably be like, yeah, it probably would've, it would've saved me for making some, you know, silly. Decisions or whatever. So, um, I do find that part really enjoyable is actually being able to help people and, and, and, and people actually appreciating what I do too. That's something that I had to learn really on.

I had a one client one time and, um, He always acted like he knew more than me. He always acted like because he had a medical degree that, you know, somehow I was less than and didn't really appreciate me, um, as much as I maybe thought they, they should have. And so that was kind of challenging. I'm like, wait, why are you even working with me if you don't like what I do?

It's like, I kind of felt like sometimes they were paying me just to have a scapegoat so that way when the market was down, they can blame me. Like, oh, it's all Glen's fault. Um, which is no way to, no way to have a business relationship. You want it to be mutually beneficial where you, you know, really, uh, appreciate and you know, your clients and, and vice versa.

They appreciate you. It's a, it's a two-way street. I, I, without my clients, I wouldn't be able to live the lifestyle that I have. And so I'm very gra grateful for being able to do what I do and working with great people. Um, some of my best clients. Are some of my biggest clients, I should say, are some of the easiest people to work with.

And that's, that's enjoyable when you can actually talk to them and say, Hey, this is what we need to do. This is what we need to have happen. Here's how I can help you be successful. Here's my recommendation. What are your thoughts? You know, what are your concerns? And kind of work together as a team. Um, those clients that didn't want to do team approach and they just want to do it their way, it's kind of like, why are we even working together?

You're not going to listen to what I say anyways. And. Then you're going to blame me for, you know, things not going well. When I, I'll come back and say, well, you didn't listen to my recommendation. I told you if you went this direction or did this, this was a possibility. So that, that's always kind of frustrating in the industry is when, um, people don't value the work that you do.

Um, And so if they don't buy you the work that we do, that's fine. They can do it on their own. I mean, tons of people do their own taxes. Tons of people work on their own cars. Um, I don't think people do their own surgeries , but if they could, they might try. Um, but I value, uh, people and their, their expertise and their professionalism, um, because I, I can't be the master of all things.

I can be really good at maybe a couple things. Um, but I, I, I don't know how to. You know, do a lot of intensive stuff on my car. I know a little bit, but I'm going to take it to the dealership. I'm going to take it to the mechanic. They know what they're doing. Um, you know, I have a medical doctor or, you know, people in my healthcare realm that are really well versed in it.

Um, do I want to just make all my own decisions, you know, in a, in a vacuum medically? No. I want their feedback. Uh, I want to know what they think is going to be best for me health wise. Um, same with, uh, my tax profess. I know a good amount about the tax code and how to run financial statements and all that, but, um, I don't want to be spending all my time learning and honing in that skill, um, when really my, my skills should be focused on helping people with their investments and helping them do financial planning.

The. I mean, the tax side of it is certainly a bigger component than maybe we, we think, which is why I learn more about it. But I still have my own CPA that does my, my tax returns and it does my books and payroll and yada yada yada. So I really just, I guess hitting home is, um, is really enjoyable when clients value what you do.

And sometimes they'll even make, give you little tokens of appreciation. I've had one of my clients was, She does, uh, stained glass windows and she made this beautiful like, um, sculpture for me that hangs in the window and when the light hits, it has all sorts of like rainbow colors. It's just beautiful.

And she just made it. She's like, thank you so much for what you've done and helped me. Um, she had her husband pass away, um, unexpectedly and really didn't know much about finances, and that's how we got connected. And I really helped walk her through a lot of. Decisions and help make you that process easier because, um, one thing that I found is, If you lose a loved one, it's going to be the emotional toll is just, it, it, I can't even, I, I, I, I can't even describe how much the emotional toll is.

So imagine you've just lost your loved one and they were the sole financial person in your house, and now you're kind of like, not only am I grieving their loss, but I have to get all this stuff figured out. I got to figure out a lifetime worth of financial You. Education, you know, and real quickly. And so that's where, you know, having a client like, you know, that was in that situation has really helped able to bridge the gap, helped get her through that new season.

Um, she was very grateful and it has been, and, you know, was really appreciative of how I was able to help and that's just something I like doing. I, you know, I'll go above and beyond to help people and give them feedback and even get them connected with resources. Uh, I got a lot of great connections.

That's the other thing I like about this industry, is naturally I just know a lot of people and you know, it's like, what are you, who are you looking for? What do you need? I might know someone that can help you with that. You know, whether it's a CPA tax, uh, you know, lawyer, a estate planning attorney, um, someone to help you with your home and auto, um, people that you know, do real estate deals or.

Do some lending options or, you know, have all these opportunities to invest. Um, so yeah, I've got a lot of different people. Um, and I enjoy that because I have been leaning more and more on some of those resources. If it's an area. I just don't know a whole lot about, I'll just pick up the phone and just call that person and say, Hey, I wanted to get your, your input or your feedback on this.

You got a couple minutes. And they're like, yeah, yeah. You know, for Glen, for you, anything you've, you help us with XYZ or investments or whatever. So just knowing a lot of people is, is, uh, is kind of fun. Um, can be also double edged sword though too. Whenever you go out in the community, it's like, If you have a decent amount of clients, you're probably going to run into clients.

So as long as you're not acting a fool and being crazy out in the community, it's never a problem. But if you're living in kind of a wild lifestyle, um, and you live in a small town and you're an advisor in that small town, your clients are probably going to see you, um, for good or for worse. So, um, but yeah, I enjoy the part of getting to know people and, and knowing a lot of people.

And the last thing that I'll kind of leave with as far as the, you know, one of the things that's really enjoyable, Uh, about the industry is, um, the. The ability to continually reinvent myself is to grow. There's almost like a limitless ability for me to grow, uh, both professionally, both of my skills and potentially monetarily.

And so that's something that's really intriguing to me is that each year, I can become a better version of Glen. I can take more training, get more accreditations, learn more, have more of a specialty, and so I can kind of choose what lane I want to go in and where I want my focus to be. I get to decide that and I can pick out the clients that I really want to work with.

I want to, if I said, Hey, I really want to work out with a specific type of client and help them with this very specific type of way. I can make that my, my focus, my specialty. So that's really intriguing too. So you can, um, or should say detract about this industry for me is you get to decide what type of client you want to work with and uh, you know, just because they come in doesn't mean you have to work with them.

And I like that part of the industry as well is if people, frankly, were jerks and didn't really value what I do, you know, I don't have to work with them. They got to show me respect just as much as I show them respect. And if they're not willing to do that, you know, I never have to take on a client, normally, I never turn clients away.

That's, or perspective clients. That's just usually I try and help other people or help people as much as I can. But if there was a scenario where, you know, a client was just, you know, being disrespectful, berating me, and just not buying what I do, I could say, Hey, you know what? This isn't working out. Um, let's just part ways.

And I had one client that was doing that and, um, I think they. Overly nervous with everything in the world. And they'd call me in just like a, almost like a, a fit of panic. And, uh, sometimes like I could, I could tell right away when they'd call and I'm like, okay. They left me a voicemail. I could look at the text and say, oh, you know, they're a little bit in a panic.

And, um, it just was a recurring thing over and over. And so one day I just had a heart to heart. I said, Hey, look, um, I need you to value what I. And how I'm helping you. I'm not trying to fleece you. I'm not trying to scam you. I'm trying to help you be successful. So I need you to know that at the end of the day, my number one priority is to help look after your best interest.

Cause I'm a fiduciary. So if we're going to keep working together, you know, I need you to, you know, talk to me with respect. Hey. I get it. If you're upset, I get it. If you're nervous, I get it. If you're frustrated with the current state of things or how things went, I can, I can live, I can, I'm okay with it. I'm, you know, I can give people grace there, but it's when they, you know, just don't respect me or call, you know, accuse me of things or just, you know, just not very nice and or unprofessional.

I have the ability to say, Hey, you know what, um, maybe you should work with another advisor. Or, um, I'm, you know, after this phone call is done. We're no longer working together. And I have that autonomy, like I said, I never have to really exercise it, but that, that kind of gives me power back in my corner to, you know, when clients are just, or people are just not being, um, fair or nice or, you know, um, you know, uh, Professional is that you can have that conversation.

Um, because no one wants to work with a bunch of jerks. That's not, not a fun way of making a living in any industry. So, um, we're going to continue to do more series, um, on what it's like if you guys like this kind of stuff and like hearing more about the inner workings of this industry. We'll, we'll, we'll have some more guests on talking about other industries, um, what it takes to be successful.

The victories, the challenges, the fun parts, the not so fun parts. So I've got some other professionals, like mortgage lenders, realtors, and um, a whole bunch of other people that I want to kind of do the series on. Cause I, I find it interesting. Learn about different industries and what it's really like. So with that, feel free to gimme a call anytime.

Number here is (928) 225-2474. Or you can email me at intelligent investing WT Wealth management.com. With that Glenn Leest signing off, have a wonderful day.