An advisor's reflection on how mentorship shapes careers
When I look back over my career, I can honestly say that mentorship changed everything. I wouldn’t be where I am today without the experienced advisors who guided me early on.
Their experience, availability, and reliability helped shape the advisor I’ve become and taught me what true professionalism looks like, so I am a strong advocate for mentorship to maintain and enhance the professional standards in our industry.
A great mentor in wealth management isn’t just knowledgeable but present, dependable, and committed to helping the next generation succeed. They model the discipline, resilience, and client-first mindset that young advisors can’t learn from a textbook.
It sounds simple, but unfortunately, most Canadian firms don’t invest nearly enough in real mentoring.
Those that do – and I am proud to count mine among them – have built our success on a culture of guidance and support rather than leaving new advisors to figure things out on their own.
Essential skills through mentorship
Some of the most critical abilities in this industry are learned through experience, not theory. Mentorship is where young advisors develop:
- Relationship-management skills
- The ability to demonstrate value
- Organization and discipline
- Grit and resilience
These are foundational to building a long-term, client-centered practice.
Mentorship also bridges the gap between veteran advisors and new recruits and this is key because older advisors hold decades of market knowledge and client-handling experience. Passing down that insight ensures continuity for clients and strengthens the entire profession.
And trust, arguably the most important part of our work, can only be built by observing how seasoned advisors interact with clients. Without that example, young advisors simply don’t know how to carry themselves professionally.
Technology has changed mentorship in positive ways with better CRM systems, VOIP, and AI tools streamlining the administrative side of the job, freeing mentors and mentees to focus on real client work.
Platforms like Morningstar, YCharts, and Conquest also help new advisors learn how to analyze and clearly explain financial strategies.
Ethics must be modeled, not memorized
Mentorship (done well) also gives new advisors a front-row seat to ethical decision making and proper conduct with clients.
The best program I’ve seen is our own at Diligence. After 25 years of mentoring, we’ve grown to more than 500 people by consistently passing along the recipe for a successful practice.
I believe that the best mentorship programs involve a new recruit following a senior advisor closely for at least one full year before operating independently.
Real mentorship requires proximity, structure, accountability, and time.
