As financial advisors, it helps when you have someone who can give you a boost of assurance and act as a pillar of strength when you need it. Hence, it is not surprising for young financial advisors in Singapore to have a mentor to guide them during their starting years. Having a mentor early in your career can help you avoid common pitfalls, build confidence, and motivation and provide budding financial advisors with access to professional advice.  

Karyl Phua, a two-year MDRT member from Singapore, shared that her mentor has helped her through difficult periods in her career and ensured that she has the proper tools and guidance to succeed. After having the experience of training under two very different mentors in the first few years of her career, she shares with us what makes a great mentor. 

They help you get through difficult times 

“Mentors offer [mentees] personal experiences that they previously have, and they give you the right solution,” she says. “For example, when they give us certain advice based on their previous experiences or mistakes, it is very useful for us as we may face the same obstacles in our career later down the road.” 

From her personal experience, Phua remembers having trouble facing rejections from clients and feeling dejected after. However, her mentor would “always use it as a motivation and encourage [her] to improve by 1% every day to become the best version of [herself]”. 

They keep you relevant for your practice 

Staying up to date with the latest information, rules, and products in the financial services profession is highly important to provide the best service for your clients. With a good mentor, financial advisors will be able to rely on their mentor’s expertise for dependable advice and continuous training to ensure that they are up to date with the latest news or strategies.  

Under the guidance of her mentor, Phua was exposed to a wealth of knowledge through the countless books, MDRT articles and teachings her mentor shared. “She buys many books for us and is always sharing articles on our group chat, which we will then discuss when we meet,” Phua shares.  

They help you hone your craft 

Four years into her practice as a financial advisor, Phua considers herself a “junior” among her colleagues who have decades of experience. There are times when she has issues with trusting her skills and knowledge as she worries she may be overpowered by others. Her mentor's assurance helps Phua be less intimidated by such situations, as she has been taught the best tried and tested techniques.   

To continuously improve her strategies and approach to clients, she still attends weekly small group training and one-to-one sessions with her mentor. These consistent training sessions help Phua ensure she stays on the right track. Additionally, her mentor will also make extra time for her whenever required, she adds.  

They share valuable advice 

Being financial advisors for many years, mentors have the ability to pass on a wealth of information and advice to their mentees due to their experience. Whether it is during the highs or lows of your career, mentors will have the right advice for you, so you always strive to become the best financial advisor you can be.  

One important piece of advice Phua received from her mentor was that she doesn’t need every client to love her, but they will need her because of the benefits that life insurance offers at the end of the day. “I am reminded this is what makes my profession a lot more purposeful,” she affirms.  

Contact: MDRTeditorial@teamlewis.com