Advisor news
Financial advisor career news from Willis Consulting
RIA or IDB????
As financial advisor considering independence, one of the decisions you'll need to make is whether to join a Registered Investment Advisor (RIA) or an Independent Broker-Dealer (IBD). Both paths offer distinct advantages and considerations. RIA (Registered Investment...
LPL Opens Succession Program to External Advisors
LPL Financial has extended its Liquidity and Succession program beyond its internal advisor base to external advisors seeking to sell their book of business. This program allows advisors to monetize their businesses, whether due to retirement plans or a desire to...
Merrill Lynch Continues to Grow Trainee Force
As of this year, Merrill Lynch has over 14,000 Financial Advisors and $2.3 trillion in Client Balances. According to Investors Business Daily, the wirehouse isn't only trying to lure top performing and experienced financial advisors. Merrill Lynch is continuing to...
Financial Advisor Recruiting Deals…The Day The Music Died?
On February 3rd 1959 three icons of rock and roll died tragically in a plane crash. The newspapers reported it as “The Day the Music Died”. Years later Don McLean memorialized the event in song. The popular belief on that day in 1959 was that with such a huge blow to...
Broker-Dealer Based Financial Advisors’ Fiduciary Standard
We feel that the fiduciary standard for broker-dealer based financial advisors being proposed by SEC Chairwomen Mary Jo White would have minimal impact on most of today's brokers. Most firms and their advisors are already adhering to the higher standard of the...
Financial Advisors Today
More from OnWallStreet.com, Danny Sarch, “Evolution of Wealth Management”: [pullquote]Financial advisors consider themselves the caretakers of their clients’ financial lives and see themselves as fiduciaries, putting clients’ interests ahead of their own[/pullquote]...
The Evolution of Wealth Management
Danny Sarch, a 30 year veteran as a headhunter for the financial services industry takes a look at the changes within the industry over the past 30 years, in a great article in OnWallStreet.com: I quote: “Let’s go back to 1984, when wealth management was called Retail...
Reach for the Financial Advisor Recruiter
No one will dispute; the Internet is a great place to find jobs. But why squander your time (and eyesight) searching through screen after screen for every search term you plug in? If you are considering a career change or a move within your career industry, let a...
Scottsdale Office Expands to New Location
Willis Consulting, Inc. Scottsdale office has a new location! We have relocated from 15051 Kierland Blvd, Scottsdale, AZ to: 8970 E Raintree Drive, Suite #300 Scottsdale AZ 85260 Drop in and see our expansion and “new look”. You can still reach us at (480) 361-9490....
Junxure Cloud Released
[pullquote]...it is obvious that it was designed by developers that have a deep understanding of the RIA business[/pullquote]It has taken much longer than anticipated, but Junxure CRM (www.junxure.com), a firm that integrates CRM technology, consulting and training...
Fiduciary User Fee Battle Continues
Advocates of a uniform fiduciary standard have been frustrated by the slow movement on the issue at the SEC, where Chairman Mary Jo White has directed staffers to develop a menu of options for how to address the investor confusion associated with the uneven regulatory...
TD Ameritrade’s New Website for College Students
TD Ameritrade is preparing to launch what it says will be the first website to match college students with financial advisor jobs and internships being offered by advisory firms. Students will be able to search the listings by location, full-time or part-time jobs and...
University Financial Advisor Training Programs – Wave of the Future?
As larger firms are struggling to replace a retiring generation of brokers who helped generate years of steady profits, Edward Jones, the 92-year-old St. Louis brokerage, is looking to head off projected shortfall of financial advisors by sponsoring training classes...
Financial Advisors Make 2 Mistakes When Looking to Move
Over the thirteen plus years of being in the recruiting business, I’ve observed a lot of financial advisors going through the recruiting process who have made two common mistakes which have jeopardized their placement opportunities. Number one is thinking you can do...
Protocol for Broker Recruiting for Financial Advisors
[pullquote]“The Protocol for Broker Recruiting” for financial advisors has become an industry standard[/pullquote] “The Protocol for Broker Recruiting” establishes a framework of best practices for financial advisors who are moving firms or going independent in order...
Are Bank Acquisitions of High End RIAs a Sign of the Future?
[pullquote]Banks and the independent advisory model do not fit[/pullquote] Boston Private Bank & Trust, a division of Boston Private Financial Holdings, is buying Banyan Partners -- one of the industry's fastest-growing wealth managers, with $3.7 billion in assets...
Client Events Equal Big Returns for Financial Advisors… if You Know How to Play the Game
The following is a blog article I posted about a year ago and I find it still relevant within the industry today and worth repeating. Too often we get caught up in “social media connections” forgetting the human side of our “connections”. [pullquote]You have to think...
FINRA Arbitration Fees to Rise?
FINRA has asked the SEC to approve a round of fee increases in its dispute resolution forum as it looks to boost pay for its force of around 6,300 arbitrators. The increase could add up to $400 per case. FINRA has not increased fees for arbitrators in 14 years. The...
Surprise! Rule 2243 Pulled by FINRA
It’s back to the drawing board!! In a “surprise” move, FINRA has sent the controversial broker disclosure Rule 2243 back for revision. (The rule would have required brokers to tell clients about recruitment incentives they receive in excess of $100.000.) FINRA plans...
Your Digital Profile is Your Calling Card!
Did you know that your “digital profile” is your calling card to the new generation of recruiters? If you “look” competent online you might get a response to that resume that you e-mailed. Recruiters want an overall view of your accomplishments, and more than likely...