We all like comfort. A glass of red with a blanket in front of the fire on a cold, dreary day. The warm embrace of a loved one, sleeping in late. To advance your career, however, you have to step out of your comfort zone.
I entered the financial industry at the age of 19, which was already uncomfortable. When I started in October 1987, the stock market ‘crashed’ and lost 500 points in one day — something headlines today would call a ‘downturn’ — I was a female in a male-dominated world so had to study everything so I would be more than just a pretty face. I spent the next 16 years as a financial advisor at a time when you couldn’t say the word ‘advisor’ and when financial plans were sketched out on a legal pad using a 10BII financial calculator (laptops weren’t out yet).
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But each day I had a passion for what I did. I was helping American families save for retirement, understand what mutual funds were, and refinance their debt so they could free up cash to save monthly. With my guidance, they prioritized their goals and allocated savings into various accounts to meet those goals. I helped high net worth clients plan their estates and understand what I called the ‘death tax’ (estate taxes), so the majority of their life savings went to their children and charities instead of the IRS. Back then the unified credit was only $650,000, not $11,400,000 as it is today.
Then one day in 2003, my life changed, and I realized I had to change. I knew my marriage of the past 15 years was not going to survive, so by my choice I decided to get uncomfortable once again. Instead of paying him, I gave him the practice we had built together because I knew he would take care of the clients. So, in one signature — back when you could do block transfers of your book — I signed it all over in trade for the house and primary placement of the kids.
On a bad day when they were misbehaving, I reminded my kids jokingly just how expensive they were! Seriously, I was now unemployed. I signed over 16 years of my efforts and the only financial security I had known up to that point. For the first time in my career, I needed a job.
Knowing this was coming, I started talking to colleagues at an industry conference. In one of those conversations, a manager I knew well said, “Can you be in Chicago Monday?”. I jumped in the car that Monday morning and began the 90-minute drive from southeast Wisconsin into the big city. I got lost on the way — no GPS then; remember MapQuest? I was an hour late for the interview, but the president still saw me, because, I later learned, that manager told him I was worth waiting to see.
Much to my surprise he offered me the job on the spot. I was terrified showing up that first week in Chicago. Talk about uncomfortable; I felt like the little girl in the big city, and completely out of my league. This began my first wholesaling job at an actuarial firm. I was trained to sell 412(i) defined benefit plans and 419 A(f)(6) plans. I had 10 states and no internal wholesaler to support me.
I hit the books, read tax law and IRS guidance on the plans I was helping to promote. The experience and training are something I am grateful for today. Although it was a big learning curve, I realized some of my skill sets. I was left brain analytical, and had the unique ability to convey highly technical concepts to financial advisors in a way they would understand.
My career moves after that first gig were with major insurance carriers. ING (now Voya), Pacific Life, John Hancock and currently, Penn Mutual. I’ve held multiple positions within these companies because I developed relationships with key stakeholders in each firm who recognized my talents and offered me the next role or position. I made jumps to different companies and increased my salary and responsibilities along the way. One move even involved relocating my family to Boston. I tell my adult kids, as they’re trying to figure out their careers, that sometimes you have to do something you don’t want to do to figure out what you do want to do.
The CMO at Pac Life said to me once, “You know what you are? Fearless!”. If he only knew how scared I was half the time! Yet I took whatever was thrown at me, analyzed the job description and had a fall forward attitude. I held on to a saying by Einstein: “There is no knowledge without experience”.
I knew that if I kept stacking on different experiences and remained open to the possibilities, I would be ready for the next opportunity. I made a point to be a student of this business, always looking for an opportunity to learn. In 2017, I obtained my CLU designation with the American College. Even now, when I finally hit an income goal that qualified me at the diamond level of WIFS’ Circle of Excellence, I asked my current employer if they would support a coach so I could learn more in the areas where I still need to grow and improve.
Today I am a Regional Director for Penn Mutual’s Southeast Region. I’m responsible for expanding the company’s footprint in four states. Those years of being uncomfortable have allowed me to specialize in training advisors in advanced concepts utilizing life insurance.
Sometimes change is forced upon you. My advice? Force growth on yourself. Take the blanket off and step out into what may feel like a cold foreign land. Ask for the gift of feedback from leaders and colleagues you respect. Embrace the uncomfortable, and let it take you to the next level. Here’s to the journey!
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