Advisor news
Financial advisor career news from Willis Consulting
Lure Breakaway Advisors with Technology
Many big firms are utilizing the best technology to lure advisors to come on board. One of the main concerns of advisors looking to breakaway is whether or not they will have the availability to properly service their customers with the most advanced software. It puts...
Risks Involved With High Net Worth Clients
Assessing risk for clients is part of a financial advisor’s job, but are they forgetting about the everyday risks that aren’t directly related to their investments? The whole purpose of having a wealth manager or advisor is to focus on the client’s entire financial...
Financial Advisors Going Independent
Are you one of the many financial advisors thinking about going independent? If so, make sure you have a solid plan. The transition process can be extremely smooth for your clients who follow if you have developed a business plan. This transition process typically...
Why Won’t You Get Hired?
[pullquote]There are certain things you must keep in mind if you want to get hired.[/pullquote] If you are a top producer looking to get hired by one of the wirehouses offering lucrative deals, you may want to know what won’t get you hired. Even though wirehouses are...
Fee Based Business is the Future
[pullquote]39% of financial advisors are selling more annuities[/pullquote] Although some financial advisors turned toward transactional models during the downturn of the economy and loss of business, the majority are moving toward a fee-based business for their...
Assets in RIA firms on the Rise
RIA firms have substantially increased their assets under management within the past year as of this past quarter. Their growth has jump by the end of the 2nd quarter and the top firms have almost doubled their accounts. Advisors are realizing that breaking away from...
The Generation Gap
The baby boomer generation has been the primary focus for the majority of financial advisors as they have accumulated much of the nation’s wealth. However, now it’s the present and future generations’ turn. Gen X and Gen Y are quickly moving up the ladder of...
Wirehouses Have Slower Growth than Any Other Channel
[pullquote]A desire for a higher payout (came in) third place among rationales for leaving[/pullquote] Wirehouses have been beaten up lately mostly because of all the bad press and the destruction of their brand names. Financial advisors are looking to breakaway to...
Women Not Happy With Their Financial Advisors
[pullquote]The percentage of women who control the wealth will continue to increase over the years.[/pullquote] Most will agree that the financial services industry is a male-dominated world. So it is no surprise that women are less than happy with their current...
Firms Lacking New Talent for Retiring Financial Advisors
The Baby Boomer investors aren’t the only ones looking to retire within the next few years. Unfortunately, their financial advisors are also Baby Boomers and looking to retire. Where does that leave the next generation and beyond? Veteran advisors are having...
Baird’s Continued Success
Baird seems to be moving up more frequently than ever these days. It is targeting more and more markets and taking financial advisors from Merrill Lynch, Morgan Stanley and other firms it can find high producing advisors. Baird is more aggressive than ever. This...
RIA Firms Looking to Grow Their Business
For the past few years, many breakaway brokers have decided to start their own RIA firm to gain independence from the wirehouse world. They have now been looking for our assistance to help grow by adding new financial advisors. We have seen an enormous growth in RIA...
Baby Boomers Looking for Younger Financial Advisors
[pullquote] a larger broker-dealer needs to add 2,000 to 3,000 financial advisors just to keep pace.[/pullquote] Baby boomer financial advisors are looking for younger advisors to mold and eventually have them take over their book of business. They are finding that...
How to Retain Your Financial Advisors
Wirehouse firms know all too well that their efforts to retain top representatives by offering deferred compensation plans and forgivable loans are not enough. Financial advisors know they have to repay these loans if they decide to leave early. In effect, firms have...
Big Firms Creating Independent Channels
Broker Dealer firms are realizing that financial advisors want more independence, but still the comforts of having the best technology and benefits of a brand name. Firms like Wells Fargo and RBC Wealth Management have increased their independent channels recently and...
Where Breakaway Wirehouse Advisors Go, Clients Follow
Since wirehouse brokers already have clients who will follow, the transition from wirehouse to independent is much smoother. Advisors don’t have to build a book from scratch and have a solid foundation.
Wirehouses Still Enticing to Financial Advisors
[pullquote]Hiring younger and newer advisors will allow the company to shape and mold them to fit their culture.[/pullquote] It may seem that many advisors are jumping ship from the wirehouses and heading toward independent firms. However, wirehouses are still...
Independent Channels Recruiting Young Advisors
There have not been very many advisors looking to grow their business in the independent channel recently. Many advisors in the independent world are focused on succession planning and coming up short with whom they choose to run their business when they retire....
Affluent Investors Ask Financial Advisors for Help
[pullquote]No one wants to simply talk to a machine for their financial advice…[/pullquote]When affluent investors feel like they don’t know where to find a safe haven to invest, they turn to their trusted advisors. With all the information and tools provided online...
Financial Advisors Still Needed by Americans
Despite the large array of online investing websites, many people still want professional financial advisors to manage their assets. The best tools for financial advisors are utilizing social media tools, social networking to remain in contact with their clients and attain new business.