Advisor Mentorship Path

How Mentorship Shapes the Future of Financial Advisors

The financial services industry faces a looming challenge: not enough talented advisors are coming up to replace the current generation. Firms spend heavily on recruiting and training, but with turnover rates so high, it can feel like "crashing Ferraris" every time a new advisor leaves the business.

This isn't just frustrating, it's unsustainable. Without proper mentorship, many aspiring advisors never fully understand what the career truly entails. They expect quick wins, but they aren't prepared for the adversity, technical expertise, and communication skills required to excel. The result? A weak pipeline of future leaders.

But there is a way forward. Through effective mentorship and setting the right expectations from the start, seasoned advisors can pass on wisdom, build resilience, and guide proteges toward the elite path. When done right, mentorship not only strengthens advisory teams but also safeguards business continuity and client trust.

This clip is from episode 82 of my Always On podcast with financial advisor and entrepreneur Sten Morgan, author of The Seven Mindsets of Success. You can stream it on your favorite podcast platform:

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