The Real Short: Mental Toughness in Wealth Management

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We’re staring at a major advisor shortage in wealth management.

McKinsey says that by 2034, demand for financial advisors will grow by nearly 20 million new relationships—while roughly 38% of current advisors retire.

That’s not just a numbers problem. It’s a mental toughness problem.

Because what’s coming isn’t just a shortage of people—it’s a test of resilience, adaptability, and leadership under pressure.

The best advisors won’t just survive this wave—they’ll thrive by mastering the mental game. Here’s how:

1. Move What You Can Move.

   You can’t control the talent pipeline, retirement trends, or tech disruption. But you can control your energy, focus, and commitment to growth. Mental toughness is about responding, not reacting.

2. Embrace the Process Over the Product.

   When demand rises and talent thins, it’s easy to chase urgency. The best stay anchored to their process—client by client, call by call. Pressure reveals whether your systems are strong or just convenient.

3. Coach, Don’t Just Advise.

   The advisor of the future isn’t just a money manager—they’re a mindset manager. Clients want calm in chaos. Your ability to regulate emotion, build trust, and coach through volatility is the ultimate competitive advantage.

4. Puke & Rally.

   There will be fatigue, friction, and failure. But the most successful will rally—reset, refocus, and keep showing up when others fold.

In short: We are all running our own 100 mile race! The next decade in wealth management won’t be won by the smartest or the most connected—it’ll be won by those who can stay composed, stay curious, and stay the course.

That’s mental toughness.

— Dr. Rob Bell

If you want to go far, go together.