Advisor news
Financial advisor career news from Willis Consulting
MyRIA? Or MyIR?…OH!…MyRA
From praise to scorn was the reaction on Wall Street to President Obama’s announcement in his State of the Union address of the new MyRA retirement plan for low- to middle-income Americans. But one thing is for sure, many big questions remain to be answered. “The very...
Financial Advisor Jobs Projected to Grow 32% by 2020
The Bureau of Labor Statistics has indicated that financial advising jobs are projected to grow 32% between 2010 and 2020. This will result in the addition of 64,000-plus jobs during that time frame. Good news to be sure. A driving factor behind this growth in jobs is...
Survey Shows Demand for More Minority Financial Advisors
An overwhelming majority of Hispanic and African-Americans say that financial services firms need to hire more diverse staffs, according to a survey conducted by Harris Interactive on behalf of Edward Jones. The Hispanic and African-American populations represent 17%...
Ready to Move? Observe Broker Protocol
Tom Walrond, North Atlantic regional director with Raymond James & Associates (and a very successful recruiter in his own right) says, "The key to a successful transition is to thoroughly plan and prepare for moving your practice. The amount of time you...
Young Advisors Build Confidence Using Old Tactics
“Clearly, wisdom, experience and a shock of grey hair come in handy when an advisor wants to exude a sense of confidence, trustworthiness and competence to a prospect. When potential clients are stressed or anxious, the age of an advisor becomes even more important....
Create a Vision for Success in 2014
If you don’t know where you’re going, it’s going to be hard to get there. Every successful financial advisor (or recruiter!) requires a mission and a plan, and the beginning of a new year is the perfect time for anyone to create a strategic plan for a balanced life...
Will Regulatory Screws Loosen in 2014?
By: Joe Adler, OnWallStreet.com An interesting excerpt from the December 27 article: “Bankers have almost become used to the intense growth of new rules in the five years since the financial crisis, but some see a light at the end of the tunnel as the agencies inch...
Merrill Offers Bonus to Encourage “Team” Approach
Bank of America Merrill Lynch is planning to reward brokers who team up to help clients with financial planning. As part of the Merrill’s 2014 compensation plan, which was rolled out to some 14,000 advisors last week, the firm is adding a Merrill Lynch Client...
Build a Relationship with Your Financial Services Recruiter
It’s a “given” that if you are considering a career in the financial services industry, or if you are considering a move within the industry, you’ll want and need the expertise of an experienced and proven financial services recruiter. But don’t just engage a...
Financial Services Stagnant in Minority Representation at Executive Level
“Minority representation at entry-level and mid-level positions in financial services has been increasing slightly and stands at 20.4%, but has remained stagnant at the executive level.” [pullquote]The financial services industry is moving too slowly in recruiting and...
Ameriprise Focus on Baby Boomers
Recently asked “What's the most vital market force facing Ameriprise right now?” Pat O'Connell, Executive Vice President of Ameriprise, responded: “We're at the trough of the baby boomers marching their way into their 60s. The demands of that generation—and they have...
Merrill Moves to Meet Competition of RIA Model With One Fee Schedule
In an interview with Kris Frieswick reporting for OnWallStreet, John Thiel, head of Merrill Lynch Wealth Management, discusses what Merrill is doing to meet the competitive challenge of the RIA model. “The number one thing clients want is transparency. They want...
Giving Back to the Communities They Serve
In their Minneapolis headquarters alone, more than 2,500 Ameriprise Financial employees contribute thousands of volunteer hours annually through company-sponsored projects. Financial advisors and employees across the country are involved in their local communities,...
Compliance Problems Identified by the SEC
The SEC has sanctioned three investment advisory firms and their officers for repeatedly ignoring problems with their compliance programs, the agency announced last week. Andrew Bowden, director of the SEC’s National Exam Program, stated: “After SEC examiners...
Looking For “Best Place to Work”?
For the third time in a row, J.D. Power and Associates ranked Commonwealth Financial Network as having the “highest in Independent Advisor satisfaction among financial investment firms.” Commonwealth achieved the highest score in seven areas of advisor satisfaction—...
Boutique Firms… Advantage in Bay Area?
[pullquote]Advisors now need to step up their game[/pullquote]Independents were long seen as having an easy growth path in the Bay Area market, in part because their non-corporate business model appealed to the tech entrepreneurs generating so much of the region’s...
Value-Based Investment Trends
“One of the most pronounced trends we've seen in recent years is the call for wealth to have a productive impact on our environment, our communities, and our society broadly, in addition to earning an investment return," says Andrew Sieg, the head of the global...
5 Broker-Dealers Enhance Technology to Meet Advisor Demand
“With advisors’ business models constantly evolving, the pressure on independent broker-dealers to continually enhance their technology platforms has never been more intense. From portfolio management to client relationships, advisors are demanding that competitive...
CFP Board of Standards Removes “Fee Only” Designation
“In the wake of controversies involving some advisors use of the term “fee-only,” the CFP Board of Standards has temporarily removed the designation from its Web site.” According to fa-mag.com reporter Karen Demasters, “The CFP Board maintains a Web site to help...
Raymond James Continues West Coast Expansion
Raymond James is looking to deliver on their objective of establishing a number of new RJA offices in the western part of the country. They currently have 10 offices in California and recently hired a former Morgan Stanley manager, David Wright, to open its first...