Your career path isn’t always as straightforward as you might think. Sometimes your family nudges you in a particular direction, sometimes your favorite movie inspires you. That’s the case for two up-and-coming financial professionals and community influencers in our Magnet Program.
While most industries will be impacted by COVID-19, the insurance industry may just offer you the stability and control over your future that you’re looking for. Follow these tips to learn how you can accelerate your career transition in the coming weeks.
With continued growth of the global financial market, the demand for financial advisors is increasing, and many ambitious professionals are considering this career path. But while opportunities at some financial firms sound alluring on paper, they’re often not structured to give you the support you need to succeed.
With a labor shortage and numerous career options at their fingertips, why would millennials want to work in insurance? On the surface, the industry may not seem to share millennials’ values – but that perception isn’t accurate. Companies like M Financial have made tremendous progress and are transforming the industry to one that millennials want to be part of.
Financial advisors seeking an environment ripe for personal and professional growth should look first into the company culture.
While the benefits of culture won’t necessarily show up on balance sheets, studies show that a financial firm’s culture is critical for setting advisors up to be leaders in the industry and more successful in their role.
The financial industry is continually changing – new technology, regulatory updates, shifting demographics – and this is great news for advisors who are internally curious and adopt a mindset of learning in all areas of their business.
If you are a woman executive in the world of insurance and financial consulting, you no doubt find yourself in the minority. In the financial industry, women make up over half of the entry-level workforce, but fewer than one in five C-suite positions are held by women, according to Closing the Gap, a study conducted by Leanin.org and McKinsey & Company.
Linda Cahill, co-owner and principal of Enza Financial, challenges the notion that men are best suited for the insurance industry. When it comes to the financial services sector, she believes the market for women is huge — and hopes to see more women bring their skills and talents to the industry.
Kristi Barens, Principal at Mullin Barens Sanford Financial, says that success in the insurance industry requires preparation, mentorship, and the right mindset. Kristi is now a powerful force in the executive benefits industry and a founding partner at her firm, yet when she chose to move from a Senior Manager to an Advisor role almost 20 years ago, she had concerns about leaving a comfortable salary for a commission-only job.
In every new career journey we embark on and every new company we join, we all want to feel valued and supported. Any role is more satisfying when we have someone in our corner who encourages and champions our growth – and that’s exactly what a good mentor does.