How to Fight Age Discrimination (without using Botox)
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I know I’m going to get a lot of flak for this article, but that’s never stopped me before. Seniority works in the advisor’s favor, but not when looking “too old” brings on age discrimination and deters clients from working with you.
Here are some ways to address that without using Botox or plastic surgery.
Perception versus reality of aging
People will never say it to your face, but it’s true. Age discrimination is a reality. If you appear to be on the verge of retirement, people will be more inclined to think twice about signing up for your advisory services.
I’m not saying that age renders an advisor less capable or committed to the job. I know advisors in their 60s who are way more engaged, on the ball and get tons more accomplished than the younger advisors I know.
It’s a stereotype and it’s wrong, but it’s just our instinctual way of perceiving other human beings. You will never be able to destroy this perception – it’s a natural tendency we have – but that doesn’t mean you can’t reduce or diminish its presence in people’s minds.
Because I have strong personal views against Botox and plastic surgery (there I go with my strong opinions again!) I’m going to tell you a few ways to accomplish this painlessly.
Make the successor obvious
If you don’t have a succession plan, get one.
If you don’t want to go about finding a successor on your own, considering joining any number of roll-up firms such as Dynasty or Buckingham. They will take care of it for you.
But whatever you decide, get a plan in place so that people don’t feel like they’ll be left in the lurch. Clearly disclose the succession plan; put it on your website or write a blog about it. The more upfront you are about your age and succession plan, the more comfortable people will feel and it becomes a non-issue.
Take a raw look in the mirror
Yes, it’s not pleasant for any of us to acknowledge our own aging. But it’s something you have to do if you want to empathize with clients and conceptualize how other people perceive you.
Believe it or not, wrinkles can be made less noticeable. A while ago I noticed my moisturizer was drying out my skin too much so I tried another one and – voila – the wrinkles are far less obvious now. Staying hydrated softens the skin’s appearance. My mother always used to tell me that eating salmon would improve my complexion. Diet can influence skin resiliency.
Graying hair is a sign of age, but what’s more important is the style and health of the hair. Is it limp and dried out or shiny and resilient? We’ve all been there. Just as in my skincare example, consider other products. Certain hairstyles can make you appear older. Severe, tightly pulled back or slick, stiff hair is less flattering as you age. Less rigid styles tend to make you look younger. Consider soft, face-framing bangs instead of blunt ones.
With both hair and skin, think about how much sleep you are getting and how many free radicals you are introducing to your body through your diet. Coffee, non-diet soda, sweets, junk food – reduce your intake.
How you wear your clothes
Also consider your posture and the way your clothes make you look. Slouching may lead others to perceive you to be sluggish or tired. Wearing a suit does tend to make you look older. Are your business suits current or are they outdated? Do you really need to wear a suit all the time? There are certain demographics such as the millennials that prefer more casual style.
Energy level
I was once speaking at a seminar and one of the other speakers was a plastic surgeon who was talking about how her services made a big difference in one of her clients’ lives. According to her, the man was a successful attorney, but upon reaching his mid-60s he found clients constantly asking him when he was going to retire.
Now, the plastic surgeon obviously had the agenda of promoting herself. To most people in the audience who weren’t as opposed to Botox as I am, it was a convincing story. No doubt I’m biased because I am such a skeptic, but here’s what I felt was the little tiny wrinkle (no pun intended) in the logic that throws the whole thing off:
If you’re more energetic than most people your age, and even people younger than you, to the point where you are literally radiating energy, then there is not a soul on earth who is going to suggest that you retire. It will be a fleeting thought that crosses their mind and quickly vanishes.
Energy level comes across through:
- Your tone of voice. Record yourself on the phone. Do you sound upbeat or are you droning on and on?
- Your posture.
- Your eyes. Is there a light in your eye?
- Your resting facial expression. Some people (of course, the plastic surgeons) believe there’s a thing called “resting angry face” (actually, the real term is slightly different – you can Google it – but we can’t publish that word in AP). Take a look at yourself – are you frowning or grimacing when you’re not talking?
- Your responsiveness. Truly, how long is it taking you to get back to people when they email or call you? Are you operating your business in a lackluster way, or are the people you work with energized by your quick responses?
Embracing technology
Think about how you run your practice and if it is in keeping with modern times. Do you have a paperless account set-up function or are people still having to fax or mail you documents? This doesn’t go over well with the younger generations. Outdated technology annoys people and can make your practice seem obsolete.
Also consider your website and social media. If your website hasn’t been refreshed since Michael Jackson had his first hit single, it’s going to make your business look, well, old-fashioned. Spend the $3,000 on an upgrade. Are you on social media? If you are, make sure that your LinkedIn profile page, for example, presents you as someone who is digitally savvy.
Don’t be a technology dinosaur!
Sara’s Upshot
All the education in the world can’t replace the learning that comes with time. Honor your age for the experiences it has brought, and acknowledge that this can only work in your favor as an advisor.
The more comfortable you are with your age, the more accepting other people will be.
In some cultures, age is celebrated. For example, I belong to a blended Puerto Rican family and we live in a predominantly Hispanic neighborhood. In our culture many times the elders live with and play a critical role in raising the children. You should see what the 70-year old women from my neighborhood do with three feet of sidewalk during the salsa festival. They hear the trumpet flare and the opening bars of Marc Anthony’s “Preciosa” (“Yo se lo que son los encantos”) and all of a sudden they’re springing up out of their lawn chairs. It could be a 90-degree day; it doesn’t matter. The way they’re moving they’ve got 20-year old girls saying, “Wait – where did she get that?”
Nobody’s age-shaming those women!
Aging is a beautiful thing if you cherish the value of where you come from, the stories, the experience, the wisdom, the personal history, the way we think about things and the truths about human condition you have come to grasp through it all. Don’t neglect the treasure that your age has created in your heart. It has way more beauty than any Botox could bring.
Sara Grillo, CFA, is a top financial writer with a focus on marketing and branding for investment management, financial planning, and RIA firms. Prior to launching her own firm, she was a financial advisor and worked at Lehman Brothers. Sara graduated from Harvard with a degree in English literature and has an MBA from NYU Stern in quantitative finance.
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