Last updated on Jul 10, 2024

Here's how you can handle rejection in the Financial Services industry.

Facing rejection is an inevitable part of a career in the financial services industry, where competition is fierce and the stakes are high. Whether you're dealing with a declined loan application, an investment pitch that didn't resonate, or a missed promotion, the sting of not achieving a desired outcome can be quite disheartening. However, it's essential to remember that rejection doesn't reflect your worth as a professional. It's an opportunity for growth and resilience. By understanding how to handle rejection constructively, you can maintain your confidence and momentum in this dynamic sector.

1 Embrace Feedback

When faced with rejection, your first instinct might be to dismiss any feedback. However, constructive criticism is a valuable tool for personal and professional development. Take the time to listen and understand the reasons behind the rejection. This insight can help you identify areas for improvement, whether it's enhancing your financial analysis skills or refining your communication techniques. By embracing feedback, you demonstrate a commitment to excellence and a willingness to adapt, qualities that are highly regarded in the financial services industry.

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Dan G.

Helping financial advisers to maximise good client outcomes with what is probably the best client-centric MPS in the market!
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As they say in NLP there is no such thing as failure, only feedback! So good or bad with feedback you can enhance your proposition, approach, pitch what ever it may be for the next client. Feedback helps with incremental gains and they add up to success.

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2 Stay Positive

Maintaining a positive attitude is crucial when navigating the ups and downs of the financial services industry. Rejection can be disheartening, but it's important to focus on your achievements and strengths. Remind yourself of past successes and the unique qualities you bring to your role. A positive mindset will not only help you rebound from setbacks but also attract opportunities and foster better relationships with colleagues and clients. Positivity is contagious, and a cheerful demeanor can set you apart in an environment often characterized by stress and pressure.

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Dan G.

Helping financial advisers to maximise good client outcomes with what is probably the best client-centric MPS in the market!
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One thing I've found helpful is having a high performance planner enabling me to set goals, describe who I'm going to be today and why, what I'm going to be excited about achieving, who needs me on my A-game today, something that might trip me up and how I will deal with it, what's the big picture to keep in mind, and so on. Also, reflecting on the day and taking away the wins and what I can improve tomorrow.

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Jack Owens

Retired - Financial Advisor and Insurance Broker
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Always, always stay positive. Do not burn a bridge. Leave the interaction on a positive note. Maybe the timing is bad or the client will need your services as their situation changes.

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3 Network Effectively

Rejection can sometimes open doors to new opportunities, particularly when you network effectively. Use your professional connections to gain insights into different facets of the financial services industry. Attend industry events, join professional associations, and participate in online forums to broaden your horizons. Networking isn't just about finding immediate job opportunities; it's about building relationships that can provide support, mentorship, and potential collaborations in the future.

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4 Refine Skills

In the fast-paced world of financial services, staying ahead means continuously refining your skills. After a rejection, take stock of the competencies that are in high demand within the industry. This could involve deepening your understanding of financial regulations, mastering new financial software, or improving your sales techniques. Investing in your professional development not only increases your marketability but also boosts your confidence, making you better equipped to handle future rejections.

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5 Set Realistic Goals

Setting realistic goals can help you navigate through rejection by providing a clear roadmap for your career progression. Instead of fixating on a single outcome, identify a series of achievable objectives that lead to your ultimate ambition. This approach allows you to celebrate small victories along the way and adjust your strategy as needed. Remember, success in financial services often comes from persistent effort and incremental improvements over time.

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6 Learn Resilience

Resilience is perhaps the most critical skill you can develop in response to rejection in the financial services industry. It's the ability to bounce back from setbacks and maintain focus on your long-term goals. Cultivate resilience by viewing each rejection as a learning experience rather than a personal failure. Develop coping strategies such as mindfulness or seeking support from mentors. As you build resilience, you'll find that rejection becomes less intimidating and more of a stepping stone on your path to success.

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Dan G.

Helping financial advisers to maximise good client outcomes with what is probably the best client-centric MPS in the market!
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I find making a coffee, reminding myself of past achievements / client feedback, looking at the big picture helps and it may sound old fashioned but its one no nearer to a yes as they would say so getting back on the horse and going again. At some point also reflecting and asking if there is anything I could of done differently for next time. Leave on good terms so the door remains open for them and you to re-engage when the time is right going forward.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Financial Services

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Here's how you can handle rejection in the Financial Services industry.

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1 Embrace Feedback

2 Stay Positive

3 Network Effectively

4 Refine Skills

5 Set Realistic Goals

6 Learn Resilience

7 Here’s what else to consider

Financial Services

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