“Pathetic.” That’s the succinct verdict of Wall Street legend Muriel “Mickie” Siebert, when asked to describe the state of financial education in our schools today.  Also, according to a survey by the Council for Economic Education, a nonprofit, just 22 states require high-school students to take a course in economics, and just 14, a course in personal finance.

As parents what should we be teaching our kids about money? What aren’t they learning about in school?

We recently read this interesting article and thought it’s a great conversation to have with your clients.

Click here to read: Save your kids from financial disaster

Great Readings,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, independence, Prospera Financial Services, kids, money, teaching, parents, article, financials, personal finance, children,  Wall Street, Muriel “Mickie” Siebert, Council for Economic Education.

I recently read Jeff Hayden’s article entitled Be Happier: 10 Things to Stop Doing Right Now on Inc.com. It resonated with me because at the end of the day if you are happy it reflects on your business, personal life, and affects those around you. 

So let’s get to it- the ten things you should STOP doing NOW:

Blaming.

People make mistakes. Employees don’t meet your expectations. Vendors don’t deliver on time.

So you blame them for your problems.

But you’re also to blame. Maybe you didn’t provide enough training. Maybe you didn’t build in enough of a buffer. Maybe you asked too much, too soon.

Taking responsibility when things go wrong instead of blaming others isn’t masochistic, it’s empowering–because then you focus on doing things better or smarter next time.

And when you get better or smarter, you also get happier.

Impressing.

No one likes you for your clothes, your car, your possessions, your title, or your accomplishments. Those are all “things.” People may like your things–but that doesn’t mean they like you.

Sure, superficially they might seem to, but superficial is also insubstantial, and a relationship that is not based on substance is not a real relationship.

Genuine relationships make you happier, and you’ll only form genuine relationships when you stop trying to impress and start trying to just be yourself.

Clinging.

When you’re afraid or insecure, you hold on tightly to what you know, even if what you know isn’t particularly good for you.

An absence of fear or insecurity isn’t happiness: It’s just an absence of fear or insecurity.

Holding on to what you think you need won’t make you happier; letting go so you can reach for and try to earn what you want will.

Even if you don’t succeed in earning what you want, the act of trying alone will make you feel better about yourself.

Interrupting.

Interrupting isn’t just rude. When you interrupt someone, what you’re really saying is, “I’m not listening to you so I can understand what you’re saying; I’m listening to you so I can decide what I want to say.”

Want people to like you? Listen to what they say. Focus on what they say. Ask questions to make sure you understand what they say.

They’ll love you for it–and you’ll love how that makes you feel.

Whining.

Your words have power, especially over you. Whining about your problems makes you feel worse, not better.

If something is wrong, don’t waste time complaining. Put that effort into making the situation better. Unless you want to whine about it forever, eventually you’ll have to do that. So why waste time? Fix it now.

Don’t talk about what’s wrong. Talk about how you’ll make things better, even if that conversation is only with yourself.

And do the same with your friends or colleagues. Don’t just be the shoulder they cry on.

Friends don’t let friends whine–friends help friends make their lives better.

Controlling.

Yeah, you’re the boss. Yeah, you’re the titan of industry. Yeah, you’re the small tail that wags a huge dog.

Still, the only thing you really control is you. If you find yourself trying hard to control other people, you’ve decided that you, your goals, your dreams, or even just your opinions are more important than theirs.

Plus, control is short term at best, because it often requires force, or fear, or authority, or some form of pressure–none of those let you feel good about yourself.

Find people who want to go where you’re going. They’ll work harder, have more fun, and create better business and personal relationships.

And all of you will be happier.

Criticizing.

Yeah, you’re more educated. Yeah, you’re more experienced. Yeah, you’ve been around more blocks and climbed more mountains and slayed more dragons.

That doesn’t make you smarter, or better, or more insightful.

That just makes you you: unique, matchless, one of a kind, but in the end, just you.

Just like everyone else–including your employees.

Everyone is different: not better, not worse, just different. Appreciate the differences instead of the shortcomings and you’ll see people–and yourself–in a better light.

Preaching.

Criticizing has a brother. His name is Preaching. They share the same father: Judging.

The higher you rise and the more you accomplish, the more likely you are to think you know everything–and to tell people everything you think you know.

When you speak with more finality than foundation, people may hear you but they don’t listen. Few things are sadder and leave you feeling less happy.

Dwelling.

The past is valuable. Learn from your mistakes. Learn from the mistakes of others.

Then let it go.

Easier said than done? It depends on your focus. When something bad happens to you, see that as a chance to learn something you didn’t know. When another person makes a mistake, see that as an opportunity to be kind, forgiving, and understanding.

The past is just training; it doesn’t define you. Think about what went wrong, but only in terms of how you will make sure that, next time, you and the people around you will know how to make sure it goes right.

Fearing.

We’re all afraid: of what might or might not happen, of what we can’t change, or what we won’t be able to do, or how other people might perceive us.

So it’s easier to hesitate, to wait for the right moment, to decide we need to think a little longer or do some more research or explore a few more alternatives.

Meanwhile days, weeks, months, and even years pass us by.

And so do our dreams.

Don’t let your fears hold you back. Whatever you’ve been planning, whatever you’ve imagined, whatever you’ve dreamed of, get started on it today.

If you want to start a business, take the first step. If you want to change careers, take the first step. If you want to expand or enter a new market or offer new products or services, take the first step.

Put your fears aside and get started. Do something. Do anything.

Otherwise, today is gone. Once tomorrow comes, today is lost forever.

Today is the most precious asset you own–and is the one thing you should truly fear wasting.

To read the full article click here.

Have a great week.

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Did you forget today is Administrative Professionals Day? I hope not! Take some time today to thank your administrative assistant/ team.

Here are some ways you can show your appreciation:

-Take them out to lunch. (Food is always good!)
-Get them a gift card
-Flowers can brighten up their day
-A hand written note with a simple thank you
-Have a meeting and acknowledge all their hard work

Remember your admin helps you get the job done- so show them some appreciation today for all they do.

Thanks,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, Prospera Financial Sercvices, Administrative Professional Day, Admin Day, appreciation, gifts, thank you.

Stress: It’s part of the course of any workday, right?  Sometimes you just try to get by until you can get home and r-e-l-a-x.  Well- never fear- here are 4 ways to relieve stress on the job in no time flat:

1. Go outside.  If you can manage to exercise too- even better- activity boosts endorphins and energy.  If not, according to Dr. Kathleen Hall, founder of the Stress Institute of Atlanta, fresh air is full of feel good negative ions which may boost oxygen flow to the brain, thereby minimizing stress.  You can spare 5 minutes!

2. As I’ve mentioned before, cute pictures actually temporarily re-wire the brain.  Look up some cute puppies online or go visit a co-worker and check out their cute kid.  How easy is this?

3. Chocolate- enough said.

4. Do 25 jumping jacks- or something active for 30 seconds.  Being active temporarily re-wires your brain and stops stress in its tracks. Your co-workers may think you are a bit odd, but hey- do you really care?

Do these really work?  I’ll let you know in a few, about to start jumping.  1…2…3…

Later,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, stress, releave stress, work day,  Dr. Kathleen Hall, Stress Institute of Atlanta, 4 ways to relieve stress.

Having trouble sleeping?  Stirring on something in your mind that is holding you back?  Stop being so hard on yourself- toss it!  Dump al of your negative thoughts and notions-literally.

In a study conducted by Richard Petty, PhD of Ohio State University, he found that when people write down negative thoughts and then threw the note away, they were less swayed and impacted by those feelings and doubts later.  Dr. Petty went on to say that, “when we physically toss a thought, we tag it as garbage.”

On the flip side, when you jot down “I Rock” types of messages and pocket the note, that can reinforce confident, positive vibes. 

It’s all about mind over matter- but in this case, the matter can help with the mind.

And swish- there it goes……score.

Later,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, Richard Petty, PhD of Ohio State University, sleeping, mind over matter.

Not literally the stomach part of your body- you know what I’m talking about.  Have you ever been faced with this dilemma?  Whether to trust your gut or not?  I have- and practically do every day.

A new Rice University study suggests that intuition is actually your brain drawing on experience- but only in a split second.  Therefore, the more you have handled similar situations in the past, the wiser your “gut call” is going to be.  This stands true whether it’s a black and white call like “ is this a counterfeit wallet?” to a more subjective call like “should I take this job?”

I don’t know about you but for me, although hard, trusting my gut is always my most reliable form of decision-making.  I have looked back many times over the years on bad decisions and missed opportunities and the thing that almost always rings true is that I had a gut feeling somewhere telling me not to do it or that something wasn’t quite right.  When I have trusted my gut, I’ve rarely regretted it.

How has your gut treated you?

Later,  

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, gut feeling, trust, trusting, opportunities, regret, Rice University.

….it’s not all about you! A constant struggle in most businesses is how to reach your ideal client. How do you get your value across to people that can utilize or buy your products or services? There are a million classes on how to write your value prop, deliver your value prop and even determine your value prop. If everyone is taking these classes and listening to these coaches, how different will we all really end up?

One of the lessons that I remember most involved setting aside the value proposition conversation and shifting the focus from the salesperson and his/her product to the client and their needs. It came about from the psychological studies that showed people take action to either seek pleasure or to avoid pain. Of the two, they suggest avoiding pain is the bigger motivator.

Instead of being presented to, David Sandler suggests shifting from being a presenter and outlining all your value prop bullets to being an interviewer and asking thoughtful questions to educate the prospect and help them to understand things about themselves that they may not have known or thought about before the “interview”.

In many cases, this is a hard shift for most salespeople to make- you have to go from aggressive presenter to thoughtful educator and counselor. They had to become super-knowledgeable about their product and the advantages of each. Even more than this, they had to understand the role their products or services play in the everyday life of their prospect and craft questions to uncover needs or gaps the prospect may not even know about. Even further, they must know a significant amount about the prospects, their pressures, mindset, the industry they work in. I assert that only through knowledge-based questioning can a salesperson ever really gain true credibility. Only through this questioning can they really determine a best-fit scenario and become a trusted advisor.

At least in our business where we are hiring people that take care of people’s money, finding anything other than an ideal fit is short-sighted for everyone involved.

Until next time,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, value proposition, businesses, David Sandler, thoughtful educator, counselor, money, trust.

Over the past week, we have heard speculation from a lot of advisors and clients alike on what the potential fallout from the sequester may be.  While no one really knows, there are some basic talking points and information that advisors and clients alike can take comfort in.

For a straightforward, easy to read article, click here.

 Happy reading,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, Sequester, potential fallout, advisors and clients, article, Gauging the Sequester’s Impact.

Much of what I write about every week involves some sort of feeling rather than thinking our way through our business day.  Sure, we need business plans, strategy and the like to conduct our business and be successful- but I propose that to be truly successful in business you have to go about it in a more organic sense.  We need to truly understand what makes people “tick”.  For that, we only need to look inside ourselves. 

Even the toughest of us know how it feels to be truly cared about.  I don’t know about you, but when I am shopping or looking for a partner in business, money matters, but it’s not the decision-maker.  It’s how that person or company makes me feel- do they make me feel like they care?  Are they passionate about their product or service?  Do they make me feel like they have my back and keep their word?  These are the decision-makers for me and I would venture to guess for most of you if you are being honest with yourself. 

E-Myth gets it right like no one I have ever seen.  Every time I read something from them, I feel energized.  Caring in business isn’t soft- it is EVERYTHING.

Read article HERE: The Power of Caring

Take care,

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, E-Myth, The Power of Caring, Business, Strategy, decision makers, feelings, honesty, energized.

Looking back over my nearly 20 years in the business, one thing has remained constant- advisors have a hard time adapting to change.  Sometimes, it is to changes happening within the industry- like embracing technology and adapting new ways of communicating with clients.  Other times it may involve staying in a firm that you have outgrown or realizing that there is something different and better suited to you out there but being afraid to take the leap. Sure you make a good living but you KNOW there is a better way to do things.  You are stuck- this is such a bad feeling.

It is the latter that has bugged me for some time.  It goes against anything that a human being should do personally and professionally.  I mostly see it when a “captive” advisor yearns for independence but is so afraid of the daunting task of 1) educating themselves on independence and all that it entails and 2) taking all of the steps required to set-up their own business.  Sure- the rewards are a no-brainer but it is still a daunting task nonetheless.

Anyone who has done it knows that it is good for the soul.  I feel so passionately about this- if we are in this business because we love it, shouldn’t we want to help advisors achieve their dreams by removing the obstacles that are in the way?  Don’t get me wrong- not everyone is cut out for independence- but if that burning desire is there, you should be able to transition with someone there to guide the way.

Take a look at Prospera’s latest LAUNCH with this very thought in mind.

Prospera Financial Services Announces the New LAUNCH Your Way Site Featuring Prospera’s Turnkey Transition

For more information on Prospera Financial Services, visit joinprospera.com or call (877) 340-1770.

Tagged independent broker dealer,advisor, independent financial advisor, stock market, Prospera financial, tarah carlow,  independence, turn key transition, change, transition, guidance, firm, finance, education, process, dreams, achieve, obstacles, take the leap.