This summer when we joined millions of spectators around the world in watching the Rio Olympics, we only saw athletes in action for a few minutes, or maybe even seconds. But those performances didn't just happen—long hours of hard work and dedication over many years created the excellence that appears so natural and seamless to the untrained observer.
While their expertise may differ, the participants of our G2 Institute share that same drive for excellence. We saw that talent and dedication first-hand while working with those "second generation" advisors from some of the industry's most well-known firms for the past nine months or so.
We call this group of executives the "second generation," but that designation refers to their relationship to their firms' founders, not their ages. These are experienced, highly motivated individuals who are tempered with the wisdom and experience of years in the trenches, but still retain the enthusiasm and curiosity of the crop of advisors just out of grad school.
What have we learned? The industry is in good hands, full of driven entrepreneurs eager to take the reins.
First, let's take a closer look at what "talent" is. When we talk about talent among the next generation of advisors, we don't mean just their natural abilities, although that plays a part. Equally important is how those advisors choose to use their talent. They have a deep level of conviction and the same wherewithal to focus on long-term goals that we see in Olympic athletes who train relentlessly for a competition that occurs only once every four years. Like those athletes, the best advisors are prepared to seize their moment when the opportunity appears.
Another shared trait is adaptability – not just successful as individuals, but are just as committed to the success of the team. Take Michael Phelps as an example – he excelled in individual events, securing gold medals in more than one, but he was equally as critical to the success of the relay teams. Like these exemplary athletes, the best of the next generation of advisors are no one-trick ponies. So while clients have a wide range of needs from financial to personal that advisors must be prepared to meet, they must also keep in mind the best interests of the firm to ensure its success in the long-run.
