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William Schantz Scholarship

Bill Schantz’s Tips for Young Financial Advisors

People say experience is important to become the best. While this is true, that experience has to start somewhere, and if the beginning is great, you are all set for the coming journey.

According to Bill Schantz, the market for providing financial advice is vast and snowballing, and with every day that passes, a greater number of young financial advisors step in.

While some start practicing after a year or two of staying under a mentorship, many do not. For a significant majority, starting from scratch is the only option, and when that happens, getting all help possible is a great way to kickstart one’s career, especially as a young financial advisor.

Bill Schantz’s Tips for Young Financial Advisors

Be Sure

A secret: this tip goes for anyone starting any career. However, when it comes to starting out as a financial advisor, it becomes even more crucial to implement. Financial advisor jobs entail long hours and many clients, with beginners dealing with an average of 30 to 40 clients at one single time. After all, everyone always needs financial advice, according to Bill Schantz. So, it is safe to say that the post requires dedication, responsibility, and patience. Only then can you persist in becoming the best.

Bill Schantz Says to Invest in Yourself

Bill Schantz suggests investing in yourself in every way possible.

Investing in yourself helps in how you present yourself to your client, and if you do that in a good way, the chances are that your clients will be happy with you.

The first thing one needs to do is spend money on how they look. It is never a bad option to upscale your physical outlook. Invest in a couple of new suits or dresses. Keep yourself neat and proper. A well-kept individual ensures getting a bit of well-kept advice about money too.

Next, you must invest in yourself intellectually, including learning as much as you can about the field and how to deal with potential clients. The more you know, the better it seems.

Yet, it is not only about having knowledge. You should also learn what information you have to use where. After all, working in a smart way helps to make a long-lasting impression.

Learn to Communicate

Being someone who needs to be in constant contact with others, learning to communicate is a must. One needs to be a good talker in this industry; it is crucial to have communication skills that land clients and makes them stay put. You should know how to deliver your points across while ensuring that you are convincing. A pro tip is to understand that clients prefer advisors who know what they are talking about and those who stay loyal to their word.

Get a Mentor as per Bill Schantz

Learning from experience helps a lot.

For someone starting out as a financial advisor, a major portion of your experience will come in the form of mentorship. An easy way to get such help is by working for financial advisors, especially one’s who have been in the field for a long time and have yielded compelling results.

Another great way is to opt for supervised internships. Along with getting mentored, the opportunity allows you to gain practical experience and work with actual clients and assess the industry’s requirements, which helps set realistic expectations from the world of financial advising.


Becoming a financial advisor might seem challenging, but as per Bill Schantz, it requires a bit of practice. With some self-confidence and mentorship, one is set to start a career as a financial advisor.

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