3 Ways to Succeed as a Mid-Career Consultant

Taking action now will create a collaborative environment that drives success and innovation.

2. Prioritize professional development

Shared values ​​around education and qualifications strengthen team cohesion and professionalism. When team members have similar skills, communication becomes more effective and the learning curve is minimized.

For example, certifications like Certified Financial Planner create a positive culture by providing a standardized knowledge base, promoting mutual understanding, and improving the quality of client strategies. As more women pursue CFP certifications — Accordingly, the number of women obtaining degrees increased by 13.9% between 2021 and 2024 CFP Board data — They offer diverse capabilities to help companies expand their business portfolio and stay relevant in changing times.

It is critical to cultivate a culture that supports ongoing education and work-life balance. By integrating professional development into daily workflows, companies can promote continuous learning while preventing burnout. Although certifications are crucial, there is no substitute for experience. Consultants with years of practical experience bring insights that can equal or exceed the value of formal qualifications.

3. Take the “work” out of networking

As mid-career consultants move into leadership roles, networking becomes an essential tool for building influence and expanding their teams. Long-term contacts, including mentors from previous careers, can be invaluable for recommendations. Recruiting team members with complementary strengths, such as: B. Expertise in tax planning or estate analysis enriches the team’s overall expertise.

Community involvement is another effective way to build networks and strengthen team dynamics. Consultants who serve on boards or participate in local events often foster deeper bonds with colleagues and community members, increasing their company’s presence and influence.

Leveraging broker-dealer resources is another straightforward but powerful networking strategy. Advisors should evaluate their broker-dealer relationships, particularly with regard to access to succession planning assistance or opportunities to collaborate with other advisors. Direct access to decision-makers and expert support from broker-dealers contribute to a more positive and productive work environment.

Over the past two decades, mid-career advisors have endured a rollercoaster ride, from the 2008 financial crisis to a technology-driven bull market to a global pandemic. With those years behind us, we know all too well that our job comes with its challenges, from navigating market downturns to helping clients through personal losses.

Choosing a comprehensive team strategy that works for everyone fosters a culture of respect and initiative that emphasizes education and community engagement. Incorporating these measures can go a long way toward opening doors for growth and expansion as advisors address the challenges and opportunities of the next decade.

Chris Howard is a managing director at Community Financial Advisors of Stifel Independent Advisors, an independent broker-dealer that provides a platform of products and services to financial advisors.