3 Mental Hurdles Advisors Need To Clear To Reach Their Potential

3 Mental Hurdles

You want to. You need to. But you can’t.

For some reason, you can’t make the change in your business that you know you should make.

Whether it’s a process change, a new hire, improved technology or something else, you’re stuck. You can’t make the jump.

Change isn’t always easy – even when it’s for the better.

I work with advisors every day, helping them identify and conquer these roadblocks. But before reaching this vulnerable coach-advisor relationship level, we ask two things of any advisor.

First, we want them to share their story with us – where they are, and where they want to go. And second, we ask that they lean into the process and learn all they can so they can make an informed decision.

This is how you approach a prospect, right? You want to know their goals, their status, their pain points, etc. Simultaneously, you want them to trust the process so they make an informed decision about working with you.

The second step can be hard for prospects and advisors alike. They might view mental hurdles as roadblocks. Rather than jump over the hurdle, they let it block any forward progress of their life or business.

I see three common mental blocks that inhibit advisors from growing their best business. Let’s talk about each of them and actionable steps you can take to get over them.

Fear of Change

Think about the business growth you’ve experienced up to this point. Most of it required some type of change – a change in vision, strategy, execution.

As you evolve and experience more success, your willingness to change might decrease. Why fix what’s not broken? You’re comfortable with a certain lifestyle or business approach.

Challenge your own thinking. Leading-edge firms need to embrace change as necessary to improve results, become more efficient and deliver a better client experience.

True growth requires change. Don’t become uncomfortable with the thought of change – that will prevent you from identifying great opportunities.

Lack of Perceived Value

The most successful firms are the ones that approach opportunities with a desire to learn. They perceive value until proven otherwise.

Once you educate yourself, you’re in a better position to know whether you want to move forward – and how. This is true whether you’re exploring new technology, considering adding a team member or curious about a new RIA or broker-dealer relationship.

Like the willingness to change, perceived value diminishes with success. It’s harder to objectively consider whether where you are is where you want to be.

Sure, you’ve grown, but the growth is starting to plateau. You provide a quality experience to clients, but it probably isn’t at the level it should be. Revenue is in a good place, if markets cooperate. You still enjoy the business, but not as much as before.

At first glance, you’re successful. But upon a second, deeper look, you start to see the cracks. You recognize the seeds of complacency taking root. You don’t realize the growth potential. Push yourself to take an objective look at what you’re doing and ask yourself if you can do better.


There are times in life when you come across what could be a great opportunity to reinvent yourself and position your business for a new level of success, but the timing isn’t ideal.

You just re-papered three years ago. You left a partnership 18 months ago. You’ve had staff turnover. The markets are choppy. You recently made some changes to your investment management process.

You can almost always find a reason and convince yourself “now’s not a good time.” Fight this temptation to settle.

It’s always a good time to examine something that can change your business for the better.  Opportunity doesn’t care about timing – it just shows up. Be ready when it comes.

To summarize all three mental blocks, take Carson Group CEO and founder Ron Carson as an example. He once asked himself if his advisory firm was the one he’d want managing his family’s wealth if he were gone. He couldn’t answer “yes.”

He feared change. He didn’t see the value in new opportunities. The timing wasn’t perfect in his eyes. He cleared those mental hurdles and created the practice he envisioned.

At Carson, we help successful advisors like you break free from what’s preventing you from fully achieving your vision. Let’s chat to find out what your vision and goals are for your business – and what might be holding you back.

Schedule a complimentary consultation with a coach today.

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