Advisor Insights

The Five Biggest Lessons I've Learned as an Advisor

Sheryl Rowling

Sheryl Rowling’s new Practice Wise column is available first in Morningstar Office Cloud.

As financial advisors, we've had plenty of technical training. We have degrees, initials after our names, and lots of hours logged in continuing education. Unfortunately, aside from a few practice management breakout sessions at conferences, we don't get much practical advice on what's really important when running our firms. I can't claim to have all the answers for everyone in every situation. But I do have decades of experience and I've learned some big lessons--some the hard way. Here are the five top lessons I've learned as an advisor.