People do better in teams. Working with other motivated and passionate people, who are all headed toward a common goal, is incredibly fun! It makes work not feel like work. In our careers, we have had the privilege of being a part of, and leading, some extraordinary teams. Without exception, those teams have had a few key qualities: Firstly, they were made up of people who were there for the right reasons. They were there to make a difference—to do something beyond just making a paycheque. They want to help change people’s lives. Secondly, whatever they lacked in talent they more than made up for in commitment, integrity, and a strong work ethic. Thirdly, they liked each other! Special things happen when you engage with good, like-minded, and committed people. Rarely, does anything life-changing happen when you work alone.
Whether someone is an advisor, or a team builder with Solomon, both benefit greatly from being a part of a team of caring people. We facilitate this team interaction by providing training centres, running regional events, and connecting advisors—who work remotely—with video conference technology. Because we like each other, we don’t simply work together... We play together too! It’s not uncommon for team members to share meals, play poker, celebrate milestones, and even travel together. We have found that our greatest long-term benefits are the relationships we’ve enjoyed along the way, and we look forward to forming many more.
Few companies in our industry appreciate, or even allow, part-time advisors. For the companies that do hire them, part-time usually means under-paid, under-trained, and only loosely supervised.
At Solomon, we're different. We support part-time advisors with top quality classroom instruction and in-the-field training. We also provide competitive compensation, enabling our part-time agents to realize their dream of helping individuals and families as full-time professionals.
We believe in what we call the "Twin Career" model; starting in business while initially keeping your day job. It’s a time-tested strategy with examples of success in nearly every industry. Phil Knight spent five years selling shoes on the side before leaving his accounting job to start Nike. Steve Wozniak kept working at Hewlett-Packard for a year after inventing the Apple Computer. Those starting their own financial services business can benefit from the same approach.
Most people, who start in our industry full-time, experience a lot of pressure right away. They often face daunting quotas along with high business and personal expenses—all while trying to navigate a steep learning curve. The "Twin Career" model allows them to grow at their own pace without the up-front pressure to perform. We know that desperation rarely produces good business. A relaxed advisor is a better advisor.
There are two views in our industry when it comes to compensation: One favours the independent advisor by paying higher compensation for individual effort. The second, rewards a building model, which gives each person the opportunity to build a team of advisors as they see fit. Both have merit, and both have drawbacks. The first offers better pay for individual agents. Unfortunately, it does little to retain those with a desire to grow and manage a team of people. The building model rewards those who excel in attracting and retaining advisors, but pays a lower amount to the actual producer of the business.
At Solomon, we believe we’ve captured the strengths of both models. Our hybrid pay structure allows financial professionals to chart their own path to the top. The result is that the aspiring advisor, or entrepreneur, is able to start in the financial business in a well-paid apprenticeship capacity. From there they are able to achieve higher contract levels by maintaining, and personally producing and/or building a productive team of advisors. In either case, the top contracts at Solomon Financial provide exceptional pay, ownership, and unlimited potential for growth
When a submarine prepares to go to sea, the crew goes through an “integrity check.” They make sure the hull is intact, and that the ship’s navigation equipment is working properly. But most importantly, they inspect the vessel to ensure that there are no leaks. Everything must be airtight, literally. Their lives depend on it.
In business, particularly the business of dealing with people’s money, there can be no leaks. People’s livelihoods are at stake. We don’t take the trust placed in us lightly. In an industry too often driven by the bottom line we are different by design. Our advisors are committed to helping individuals and families no matter the financial reward. They are also given no time limits on client interactions. This ensures they are able to prepare a proper plan for each client who wants one. Lastly, there are no targets or quotas. We want our advisors to be free from outside pressure and arbitrary quotas. Ultimately, we want them to be free to do good work for good people.