Any profession must bring in new members in order to thrive, and the retirement industry is no different. A panel of young industry professionals shared their experience and their ideas on how to attract their peers to become part of the effort to help employees prepare for a secure retirement and long-term future.
Panelists included Michael Castino, Director of Public Relations and Corporate Communications at Security BenefitDarlene Flagg, Vice President of National Life Group, Virginia Harriett, a senior financial advisor at Lincoln Investment; Allei Holway, a financial professional at Equitable; Brianna Johnson, a regional director at Security Benefit; David Pensyl, a financial advisor at Lincoln Investment; Sara Scholl, owner of Turning Pointe Financial; and Chris Wise, co-owner of Wise Capital Partners.
Entering the Field
Panelists had different influences and motivations for becoming a part of the industry. Holway shared that she had a family background that included financial advisors, as did Wise, who is now part of the family business. Holway said she was attracted by the career opportunities this field offers, as well as the ability to learn and grow.
Johnson affirmed the importance of making opportunities available, asserting that, “It’s critical to let employees explore opportunities in the company early on.” Pensyl said, “I work for a company that allows me to pursue my creative side.”
Attracting—and Retaining—Young Professionals
Scholl advocated sticking with the basics. “Build a foundation,” she said. “You have to build a foundation before you talk about anything else.
“It’s so important to come with a team approach,” said Holway. She also suggested that growth can come from working with others of different backgrounds, noting that, “we make sure that we partner people with people who are different from them.”
“Keep an open dialogue with employees about where they see themselves,” suggested Johnson. “Help them get where they want to go.”
Advice for Peers
Panelists shared some of the things they’ve learned and had suggestions for others who are considering entering the field or who want to grow in it.
“Ask questions,” suggested Scholl. Pensyl agreed, adding, “Never think your process is the best.”
“Never go in to a meeting by yourself,” said Holway, stressing that meetings with clients are opportunities for learning and mutual support.
“If you’re not using social media, you’re missing out,” warned Wise. He argued that if one is not comfortable with using social media, it would be best to hire someone to handle it. “Outsource,” he suggested. Scholl also cited the importance of social media; for instance, turning to LinkedIn as a way to learn.
A Sense of Purpose
Panelists evinced commitment and an appreciation for being part of something with a grander purpose. “You have to educate and teach clients and potential clients something,” said Wise.
“It gives me a sense of purpose,” Pensyl said of his work. “People really need help with this stuff.” To better accomplish that, said Scholl, “Make sure what you talk about is relatable to people. You have to talk to people the way they understand. Find a way to bring it to their world.”
And Pensyl expressed confidence in the future, telling attendees, “It may seem like the human advisor is obsolete, but it’s just not true.”
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