Trending
Written by: Reagan Wagner | National Financial Alliance
Every advisor begins with a spark of ambition, often outpacing experience. Early in my career, I discovered that ambition alone isn’t enough – it needs the steady hand of guidance. That realization shaped my belief that mentorship isn’t just helpful; it’s a transformative force that defines success in our field.
I’ve had the privilege of experiencing both sides of the mentorship journey – first as a mentee learning from seasoned industry leaders, and now as a mentor guiding the next generation toward their goals. Here are the lessons that have most defined my perspective, and how both mentors and mentees can make these relationships truly meaningful and transformative.
How to Find the Right Mentor
Finding the right mentor starts with ownership of the process. No one else is responsible for personal growth. Those who want to advance need to actively seek out people who can help them get there and be clear about what they hope to learn. The best mentors are those who’ve experienced both setbacks and success, bringing a perspective that can’t be taught in a classroom.
A strong mentor is also not defined by a certain age or title, rather by their experience and perspective. Look for someone who’s been where you want to go and isn’t afraid to push back when needed. A mentor’s role is to help others connect insight to action. That means translating lessons into practical steps, offering candid feedback and asking questions that spark independent thinking. Instead of a mentor that tells you what to do, look for a mentor that asks questions such as, “What outcome are you hoping for? What’s another way you might approach this challenge? Why are you choosing to approach it this way?” That kind of accountability sharpens decision-making skills and builds confidence over time.
Lessons That Shape Growth
The first lesson mentorship taught me was humility. Early on, I learned it’s okay to say “I don’t know.” My mentors helped me understand that clients don’t expect perfection, they expect honesty and initiative. The willingness to admit uncertainty, and then go find the right answer, builds far more trust than pretending to have all the solutions.
My mentors also instilled in me the importance of continuous learning. Investing in training, classes and professional organizations has had a lasting impact on my business. Every opportunity to learn has helped me refine how I structure my team, build other leaders and approach growth strategically, rather than reactively.
Finally, mentorship taught me the value of delegation and trust. When I was new to the business, I thought I needed to know and do everything myself. Experience, and a few honest mentors, taught me otherwise. Surrounding myself with people who are experts in their areas has been key to scaling sustainably. Building a team with experience beyond my own has enabled me to focus on what I do best while empowering the organization to grow independently.
Be a Mentor Worth Learning From
As I’ve shifted into the role of mentor, I’ve realized that adequate mentoring takes just as much discipline as being mentored. Effective mentorship goes beyond sharing knowledge, it’s about listening deeply and understanding what will truly help be the person in front of you.
One principle we live by in my office is “check your pride at the door.” Everyone, from the most junior associate to senior leadership, has the potential to contribute something valuable. When mentors stay open-minded, they create space for innovation and growth.
Being a mentor also requires adaptability. It’s easy to get stuck in routines and assume that what worked before will work forever. But sometimes the best ideas come from new perspectives, even if they challenge the way things have always been done. The moment mentors stop being curious is the moment they stop being effective.
Build a Culture of Mentorship
Creating a culture of mentorship at a firm requires intention. Everyone is busy, so carving out set time to foster these relationships is key. A few hours each month of focused, distraction-free discussions can make a difference. Leaders play a critical role in setting that tone. When mentorship is prioritized, it sends a clear message that growth and learning are part of the firm’s DNA. Over time, that consistency builds an environment where every team member is both a learner and a teacher.
Mentorship in Action
My involvement with MDRT has been one of the most powerful mentorship experiences in my career. MDRT events bring together advisors who are all successful in their own right — people who don’t have to be there but choose to be because they believe in helping others succeed. The conversations are collaborative and packed with insights that can transform a business. Sometimes all it takes is one idea from a peer to completely change how an advisor leads, manages or thinks about the future.
The next generation of advisors will thrive through relationships that blend wisdom with curiosity - where mentor and mentee learn from each other. This is the true legacy of mentorship: building a profession that grows stronger because its members never stop investing in one other.
Related: The Secret Ingredient That Transforms Your Holiday Table