The benefits of personal mentors are widespread, and this is just as true in the world of investments and financial markets. Mentors can come in all shapes and sizes, but its important to have a mentor who is able to provide guidance on the area the mentee needs to fix.
After all, a great marketing mentor would generally be a bad choice for a mentee hoping to get ahead in a physics lab.
Advantages of Mentors
When it comes to trading, the primary motive for taking up a mentor is to skyrocket learning through 1 on 1 sessions that allow competency to be gained much quicker, than compared to traditional learning methods.
The financial markets can be an intimidating place, and a lack of confidence is usually a sign of a fundamental weakness to the trading plan and approach. Mentors have the expertise to fully back test and identify trading issues novice traders would miss, and this allows the mentee to focus on re-working the trading plan until its effective. Once sufficient back testing is performed confidence in the mentee generally improves in leaps and bounds.
Sometimes it’s the technical jargon and other times the acronyms – finance is full of specialised terminology that can often make it tough for a novice to follow conversations economists, bankers and traders have. 1 to 1 sessions allow the mentor to hone in on all of the issues affecting you, and this includes the technical wording and ambiguities.
As this type of learning is tailored to the student’s specific requirements, and the mentor is focused on only one individual, the ability for the mentor to provide comprehensive and high-quality feedback is greatly improved. This allows the mentee to have consistent feedback and is highly relevant, and mentors help students work through the issues faced.
Mentors are experienced professionals with a network of contacts and connections to the wider industry. As a mentee, it is worthwhile asking your mentor about introductions they can make to people and areas that are important for developing the student’s skills and career.
A mentorship programme can help in a multitude of ways. From those who are struggling with mainstream courses and content and need individual support, to those who are already proficient and are interested only in a specific specialist area. This adaptability makes these types of programmes highly versatile and allows the delivery of value in ways that were not possible in the past.
One of the key thoughts to take away from this is that mentorship can be the defining factor of being successful. This is true from trading to business and by placing employees and students on the right path, mentors can make a real impact on the course of mentees lives.
It's equally important that mentors are patient and spend the time that is necessary to investment in the student over time to get the desired result. At Horizon we provide a range of mentoring opportunities, both free and paid. We know the importance of developing the skills and talents of both our workforce and our customers.
An example internally is Charlean, who Horizon took on as an intern earlier in the year. Charlean today is a key member of the team, providing analysis and benchmarking of various financial markets including the FTSE100 and FTSE250. When she started, it took weeks of daily conversations and mentorship - teaching the tools and analysis we employ inhouse, the short term, the long term, the wants and needs of the team and the wider company, as well as looking at what potential we see in her and how she can improve. It took a lot of effort and work to get Charleen as an integral part of the team - to the point where it made our lives easier and not harder, and this is something most mentors fail to recognise. That the success of the mentee is directly proportionate to the work and effort put in by the mentor. This is how we create successful and ambitious people through the various Horizon mentorship schemes.
This is the same process we use when new employees join the team. While the first thought after adding someone new is that overall workload and responsibilities will be reduced, the opposite tends to be true. The first 60 to 90 days are often slower as workload now has to be passed through to an inexperienced person, and this is not generally technical inexperience, but a lack of awareness of the culture and processes of our specific company. There is always a learning curve for employees joining a new company, especially those in investment and finance.
Horizon provides mentorship as a key part of what we do. Externally we provide guidance and support for free to university students and internally to those part of the Horizon Intern Programme.
As firm supporters of encouraging skills and knowledge to be transferred to those who need it, Horizon now provides a mentorship service to individuals and traders. Want to learn more? Enquire here.