“I work with several professional entities and I get the most value from the ISM. It really is a phenomenal professional body” – Mike Coady
Winning Edge meets MIKE COADY (FISM), a highly successful wealth manager, coach and mentor – and a huge fan of the ISM
What is your current role?
I am an experienced wealth manager, looking after clients in the Middle East and globally. These days, I also share a lot of my time nurturing and developing others via my coaching consultancy, Coady Performance Group. I find it incredibly rewarding to work with people to help them succeed, and I’ve done it for so long now, it just comes naturally.
How would you describe your sales journey?
I left university early. I felt bored and needed a new challenge. And I wanted a “prove myself ” role with some frontline interaction. My first real role was at 22 with Prudential as a financial consultant, and then on to firms such as Barclays, deVere Group and Guardian Wealth Management, working my way up to number one adviser globally, number one regional director then on to leading international salesforces and global wealth management companies. During my career I’ve achieved many awards, and always felt a need to prove that leaving university early was the right thing to do. It’s that single decision that answers the “why?” in my day.
How would people describe you?
It has probably changed over the years. Certainly, in the early years I was more bullish and a lot bolder. I was more driven in a way that others might perceive as self-assured. Over the years I’ve learnt that running a million miles an hour is not always the best way. I absolutely love my work and my team, but enjoying the moment and those around me is a huge part of what I want from my future.
What has been the most rewarding moment of your career?
As a financial adviser by trade, a great driver for me was being recognised at a young age and winning major awards year after year at some of the biggest banks and wealth management firms in the world. Being recognised as a number one gave me the trust I needed from others to get onto the next step of my career, building and leading many of the highest-performing teams in our industry and opening new offices all over the world. As a leader, it has also been incredibly motivating for me to see those I have led in the past grow and go on to achieve their own spectacular successes.
What has been your biggest challenge?
My toughest challenges have also turned out to be my biggest successes, oddly… There comes a time when you build such successful teams and businesses that, to a degree, you become too powerful for the business. The challenge comes after you’ve built all the systems, standards and processes that your team’s success just builds on itself, achieving a trajectory. When you enjoy what you do and who you do it with, you don’t ever want it to come to an end, as having to find your feet again and rebuild is tough.
What advice would you give to someone just starting out in sales?
A career in sales for many can be because they can’t do anything else, but sales is absolutely a career of the future and should not be chosen for the wrong reasons. If you are going to have a career in sales, now more than ever information is at the consumer’s fingertips, so it’s about having a service level higher than anybody else’s. That means being presentable, knowing your product better than anyone else and the problem it solves, being communicative and consultative. It’s not about persuading people, but about building relationships and trust.
Trust is a huge thing in business – it will define your success. Don’t think short term. Sales is all about your long-term brand and reputation and making sure that you clearly add value. My success came from years of hard work and sacrifices. Early on I learnt the trade, I studied hard, and I listened to everyone around me. During my time at Prudential I had two amazing mentors – I did what they did, I went where they went, and I wanted what they had. You must strive to learn from the best around you. But my biggest tip is, “You have to put in!” I can teach and nurture anybody, but above all else they must have that drive and hunger to succeed.
How has the ISM added value to you?
The ISM really is a phenomenal professional body. It provides a significant resource, content, and a proven opportunity to network with others and share best practices. Being able to help each other in business and introduce contacts is great. I work with several professional entities and I get by far the most value from the ISM. Thanks ISM!
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