Partnerships between senior and junior can be a great on ramp into the business. But young advisors say it's still necessary to develop client acquisition skills and to have tenacity in spades.
For example, being seen as a credible advisor in the eyes of clients can be a challenge for young advisors.
"When you look at me, I'm clearly 27 years old," says Lauren Turnburke who is a junior partner to Keith Livengood at Janney Montgomery Scott in Raleigh, N.C.
Turnburke says she faces the issue head-on, explaining how she is passionate and hardworking, and that her partner has decades of experience.
With current clients, junior advisors shouldn't be introduced as a mere alternative to the senior advisor, says Kevin Wallace, manager of learning and professional development at Janney.
"[Clients] need to think of them as a specialist in something. Even if they don't remember what they are a specialist in, they'll still think of them as an expert," Wallace says.
Turnburke and her partner have followed a similar approach: "It's about reinforcing that we are both here to assist clients with whatever they need."
She also says that initially meeting clients was intimidating. "But the more you do it, the more comfortable you get doing it."
It takes time for junior advisors to get their feet grounded in the business, Wallace says. "They have to take a long view."
Turnburke says that's also where being patient and having tenacity proves to be critically useful. "You have to have grit," she says.
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