Managing a financial advisory business isn’t a short sprint- it’s a long, strategic journey. Much like a Major League Baseball season, success in financial advising requires consistency, adaptability, and resilience. With 162 games in an MLB season, teams must balance daily performance with long-term strategy- just like financial advisors managing clients, marketing, and business growth.
Here’s how the grind of an MLB season mirrors the challenges and triumphs of running a financial advisory practice:
- Consistency Wins Over the Long Haul
MLB teams don’t have to win every game to make the playoffs, but they do need to show up and perform consistently. A hot streak in April doesn’t guarantee a championship in October- just as a great month of client acquisition doesn’t ensure long-term success.
Financial advisors must establish reliable processes, from client communication to marketing and investment strategies. Client communications and marketing can be assisted by automations and AI these days. A great team becomes greater when they bring in a fractional chief revenue officer. I have been fortunate to have teamed up with several strong teams of advisors this year to help them survive and thrive through this long season. A well structured business, like a well managed baseball team, thrives on consistent effort rather than occasional bursts of activity.
2. Managing Slumps and Hot Streaks
Every baseball team experiences slumps. Even the best hitters go through periods where they struggle at the plate. The key is to stay focused and make adjustments rather than panic.
Advisors, too, will face slow periods- whether it’s market downturns, client attrition, or leads drying up. The best advisors don’t abandon their game plan; instead, they tweak their strategies, stay engaged with clients, and trust in their long-term vision.
3. The Importance of a Strong Roster
A baseball team isn’t just its star player- it needs a solid roster from top to bottom. Depth matters, whether it’s a bullpen that can close out games or a bench player stepping up in a key moment.
In the same way, financial advisors need a strong team. Whether it’s support staff, marketing professionals, or strategic partners, surrounding yourself with the right people ensures you’re not shouldering the entire workload alone. Just as a team with depth wins championships, an advisory firm with strong support thrives in the long run.
4. Adjusting to Opponents and Conditions
MLB teams constantly adjust to their competition, whether it’s shifting defensive alignments, changing pitching strategies or altering the balance of a baseball bat (within the rules of the game, of course), the ability to adapt is crucial.
Financial advisors must do the same. Market conditions change, regulations evolve, and clients’ needs shift. Evaluating innovative programs that can enhance income for clients or manage equity risk better is an important part of adjusting to conditions. Advisors who stay ahead- by keeping up with industry trends, refining their marketing, and continuously improving their services- will have a competitive edge. What worked for you yesterday, will probably not work for you tomorrow.
5. Playing the Long Game
A single-game loss in May doesn’t derail a team’s season. Similarly, a lost client or a rough quarter doesn’t mean failure for a financial advisor. Success is built over time through steady, strategic effort.
Advisors who focus on long-term client relationships, continuous prospecting, and consistent branding will win over time. Like baseball’s best teams, they understand that sustained excellence- not short-term wins- creates a legacy.
So- the questions is: will your practice survive and thrive over this long season, or will you struggle with short bursts of energy that fizzle out halfway through the season? The last question: How many Yankee games will you watch this year?
