One is, without question, an underlying resistance to change. Fundamentally, there appears to be a tangible desire, particularly within the adviser community, to retain the status quo.
Perhaps, there is good reason for this given the level of change that advisers have had to deal with over the years and the IFA community has been in a constant state of flux for the past 20 years.
However, this innate conservatism – with a small c – manifests itself in far more areas than a resistance to regulatory changes.
For example, on a quite shallow level, consider the way you dress – many advisers adhere to a very narrow dress code when their clients usually don’t.
Another example came to light when I ran a series of adviser workshops recently. The most common piece of feedback we received was on the design of the seating plan.
The reason?
I chose to sit participants in a circle rather than at desks and many felt exposed by this.
I mention this, because one of the best ways to improve outcomes is to get outside our comfort zone. The adage of always doing things the same way and getting the same results is very true.
It is important once in a while to stretch yourself or even place yourself in an uncomfortable position to see how you react and respond.
For instance, can you remember a time when you were outside your comfort zone with a client? Maybe they asked you a question you hadn’t been asked before and which you didn’t have an answer for.
Often in these situations you reply with something you’re really proud of but can’t put your finger on where it came from. Or, maybe you had some uncomfortable feedback in the past, but now notice your performance or behaviour has improved.
This is all backed up by studies in the fields of complexity and chaos.
It is argued that real innovation and change happens when an element of instability is introduced to a situation or system. New situations and experiences provide us with new ways of looking at the things we do and out of this can come considerable benefits.
Therefore, for those wanting to make a shift of some sort:
- Try some new activities – both work and personal
- Consciously take some small risks and then pay attention to your outcomes
- Spend some time with people who are as opposite to you as possible
- Seek feedback that is given constructively but may be uncomfortable
Finally, I’ll sign off with a paradox for you to mull over: if you want to be happy with your lot, but you’re not, change your lot.
Peter Welch is head of sales and distribution at Bridgewater Equity Release
