I don’t know Russell Wilson personally, but, in my practice as a professional sport psychologist for the past 33 years, I know a thing or two about what it takes to become a champion, about mental toughness and resilience to adversity, all of which Russell displayed in the NFC Championship game on Sunday, January 18.  In my practice as a “Success Coach” for financial advisors, I teach my advisor clients the exact same skills.

Like NFL quarterbacks, all financial advisors face challenges, adversities and setbacks during their careers.  For advisors, the “Super Bowl” of challenges is dealing with your clients during turbulent markets and dramatic financial crises and maintaining an optimistic, positive mindset, throughout. Will you be the advisor whose stress during such times leads to feeling hopeless and helpless, trying to avoid the angry and frightened clients who bang your door down looking for answers, while blaming you for the bottom falling out of their portfolios?

Or…like Russell Wilson, will you embrace the mindset of a champion, by maintaining supreme confidence in the face of adversity and bounce back from setbacks? Do you have a game plan on the back burner to deal with unforeseen economic disasters? Can you stick to your core values and game plan for managing your clients’ wealth, remain confident that (by remaining patient and controlling your emotions) you and your clients will come out on top, calmly reassuring them that you are worthy of their trust?

One important lesson to be learned from Russell Wilson is that we all have choices regarding how to assess a really devastating situation. We can assess it as stressful or we can assess it as motivation to learn from it and succeed. 

During the first half of his game against Green Bay, his performance was so poor that he had a zero quarterback rating, and he was playing the worst game of his NFL career. With his team down by a score of 16-0, one choice Russell had was to admit to himself that it wasn’t his or the Seahawks’ day, lose the belief that a victory was possible, and just try to get through the second half without more embarrassment.  In other words, play it safe, while expecting to lose.

But Russell Wilson does not give up.  Even with only a few minutes left in the game, with his team trailing by 12 points, he still trusted his ability to bring victory to the Seahawks.  Mental toughness is the ability to sustain your intensity and bounce back, despite setbacks, adversity, and unexpected obstacles.  And that kind of mental toughness paid off.

Advisors have the exact same choices when faced with challenges and adversity.  Will you fall back on self-defeating thinking habits, where anxiety and fear escalates and you begin to doubt your ability to advise and manage your clients’ wealth?  Or, will you trust your core money managing values, ride out the storm, believe optimistically that with patience “this too shall pass,” and your clients will be ever-thankful for your wisdom and consistency?

 

An Advisor Case Study:

An advisor consulted with me shortly after a dramatic market setback. He had difficulty sleeping, his mind racing regarding the challenges he anticipated at the office the next day. He noted that every time this happens his family tells him that he is hard to live with and they wish he would change jobs.

Conflicted about whether he wanted to continue in his career, he was willing to look at alternative strategies for dealing with the challenges that are inherent in the advising career. I taught him the same mental toughness skills that I teach to elite athletes.  These skills included confidence building and resiliency skills, and developing an “identity statement” that he could repeat, along with other positive affirmations each morning before leaving for the office.

An “identity statement” is a reminder of the real qualities you bring to your clients and their families.  The purpose of such a statement is to enhance your self-esteem and confidence, especially when you begin to doubt yourself.  Here is an example:

“I am a very successful advisor.  I take a genuine interest in the needs and goals of my clients and I take pride in providing exceptional services to those who have entrusted me with their financial well-being.  I understand that I will not always have answers when questions arise and like all advisors, I don’t have a crystal ball for predicting future economic and market activity, but I don’t have to be perfect to provide my clients with wonderful service. I am proud of my profession and of my body of work.”

After repeating this statement and several others each day for a period of a month, this advisor’s confidence and resiliency rose dramatically, along with his book of business. Like Russell Wilson, he learned how to stay resilient, regardless of setbacks and how to remain optimistic and confident regardless of challenging confrontations from his clients during anxiety-provoking market conditions.

Action Plan:


Dr. Jack Singer is a professional psychologist, speaker and a success coach for select financial advisors. He is the author of “The Financial Advisor’s Ultimate Stress Mastery Guide,” which can be ordered in the FA Mag Bookstore, using this link: /book--ultimate-stress-mastery-guide. To learn more about Dr. Jack’s keynote speaking and exclusive success coaching services for financial advisors and his unique, referral-generating program for your next Client Appreciation Event, contact Jack at [email protected], call him at 1-800-497-9880 and read more at http://www.advisingtheadvisors.com.