Between Now and Success

joe deitch

The Importance of Self-Awareness and Action in Delivering Great Financial Advice

With Joe Deitch

If you don’t “know thyself,” you’ll have difficulty succeeding in a world where technology is making average human advisors obsolete.

Self-aware advisors understand that they have blind spots and they seek to shine a light on them, make changes, and turn them into strengths.

Joe Deitch, the founder of Commonwealth Financial Network, joins my podcast today and shares wisdom from his four decades of running a top broker dealer and drops some amazing insights from his new book, "Elevate: An Essential Guide to Life."

In this conversation, we discuss overcoming blind spots, closing the knowing-doing gap, leveraging the multiplier effect, deep listening, meeting people where they are, and much more. By the end of this episode, you’ll have a good understanding of the key skills you’ll need as an advisor to thrive in the years ahead.

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Quotes from Joe Deitch

  • The world's a big place, we have infinite choices, we can do what we want to do, and we should.
  • I realized that the problem was me. I was the captain of the ship. I was making the decisions. I was steering the ship. If I want to save Commonwealth I really had to save me. So I took myself back to school.
  • Listening is just not listening to what someone tells you. It's listening to the environment. It's listening to trends. It's listening to your intuition. It's listening to what's going on and why. Listening is a fairly sophisticated skill.
  • The more we can be aware of what we want, why we want it and how our little internal dialogue plays out, that also enables us to be true to ourselves and it's also a stepping stone to understanding other people and having empathy for them.
  • If you're centered and strong and you can interact and understand your clients, it becomes so much easier to build a relationship and a business from that solid base.
  • To truly grow, to truly advance you have to know and then you have to do.
  • Investing in loss is another way of saying, "Take a chance, do some things that you don't necessarily know how it's going to work out because that's when you can learn."
  • The skill is to be empathetic with our clients and with our staffs and colleagues. Where are they coming from? Why are they coming from there? What's going on and to meet them there. And when you can meet them, when they understand that, they can just openly express themselves and be safe and that's when information and emotions get transferred. That's when the relationship takes root and the relationship grows.

Resources

- Commonwealth Financial Network Visit Joe Deitch and his team online.

- "Elevate: An Essential Guide to Life" Check out Joe Deitch's new book.

- "Performance Management" by Aubrey Daniels and Jon S. Bailey Joe says this book on behavioral psychology was a real lifesaver early in his career.

- "Still Alice" by Lisa Genova Joe's wife wrote this acclaimed novel about Alzheimer's that was adapted into an Academy Award-winning movie starring Julianne Moore.

- The ROL Index A tool Mitch Anthony and I developed to help advisors measure their clients' well-being in 10 aspects of life.

Values Clarification Toolkit Click here to download this FREE tool and start living your values.

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