Professional sports?

While being a professional athlete may not seem directly related to financial services, there are several character traits and skills that I’ve developed that translate incredibly well into the field of wealth management. Here are some reasons you may not have thought of as to why a professional cyclist might make a good financial advisor:

Discipline and Dedication. Professional athletes are known for their hard work and discipline with respect to training and competition. These qualities are invaluable in the wealth management space, where consistency and a strong work ethic are essential for success. The capital markets are one of the most competitive arenas in the world. In today’s environment you need to constantly strive to improve your skills and knowledge in order to keep up.

Resilience. In my professional cycling career I faced a constant stream of physical and mental challenges, setbacks, and uncertainties. The resilience that I developed in overcoming these obstacles helps me deal with and have perspective on the uncertainties and challenges that may arise in the financial markets. My real value to my clients comes when they have to lean on me for support during market or economic uncertainty. Having lived through many uncertain times equipped me with the skills to be able to communicate these experiences and connect on a deeper level with my clients.

Teamwork and Collaboration. While cycling is seen as an individual sport, professionals compete as part of a team. The ability to work collaboratively and communicate effectively is crucial in wealth management, especially when working with a team of professionals or collaborating with clients. At Piccoli Wealth Management we work with a dedicated team and there are many people who are invaluable to our success. As a client, you are part of our team.

A fundamental understanding of the determinants of success in life. It has often been said that sports are representative of life. I genuinely believe that everyone who has achieved some level of success in their life shares a couple of common character traits and beliefs. In my professional cycling career I learned that the key to success is to show up every day, do the basics well, and constantly strive for self improvement. Though people love to chalk up the success of athletes to incredible genetics or talent, the reality is much less sexy. Love what you do, and do the boring parts well, every day. Stick with it for long enough and you’ll likely reach heights you never thought possible.

My investment philosophy is the same. If you’re willing to forgo the next shiny penny stock, apply emotional management when it’s hard, implement sound rules and strategies and apply them diligently over the long term, you’ll be successful. Successful wealth management can be slow, and boring. That’s how you know you’re doing it properly.