Biggest Challenges For A Financial Services Consultant At Capstone Partners Financial
Byron, a Financial Services Consultant, identifies the biggest challenge in his role as learning to handle rejection; the significant time investment in creating financial plans and illustrations for potential clients, only to be "turned down at the last minute," is a difficult but necessary aspect of the profession.
Rejection Management, Client Interaction, Financial Planning, Sales, Resilience
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Byron Lopez
Financial Services Consultant
Capstone Partners Financial
Loyola Maymount university
UT Austin
Economics
Finance (Banking, Fintech, Investing)
Finance
Veteran
Video Highlights
1. Rejection is a common experience in finance and requires resilience.
2. Building client relationships requires significant time investment, including creating financial plans and illustrations.
3. Financial professionals must be adept at handling client decisions, even last-minute changes in plans.
Transcript
What is your biggest challenge in your current role?
The biggest challenge is learning to get turned down. Sometimes you'll meet a potential client who makes it seem like they want to do business with you. Then, you might spend three to four hours on their financial plan or insurance policy.
This involves creating illustrations, which are diagrams of their investments. You have to input all their information, and this takes time. You might spend three to four hours preparing for that potential client.
When the day comes to seal the deal, they might pull out at the last minute. They'll say, "You know what? I don't want to do business anymore. This just isn't for me."
You have to learn to accept rejection. As cold as it may seem, many people will make you spend hours on them, only to decide against doing business with you at the last minute. You have to learn to handle rejection.
I think that's one of the hardest parts of being any kind of professional in finance.