Advisor news
Financial advisor career news from Willis Consulting
Breaking News: Bold Move By HSBC for Financial Advisors
HSBC has taken a bold move that many in the industry have long considered unthinkable: it has put all of its financial advisors on salary. Their rationale?? “HSBC made the switch to align the compensation structure for advisors in the U.S. with those in the rest of...
Financial Advisor’s: Your Support Team Can Make or Break You
The role of the sales assistant or client associate becomes critically important to maintaining the cycle of client attainment and client satisfaction. Great support staffs are invaluable, but are very hard to find and even more challenging to manage. Especially as...
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...
OnWallStreet Ranks Top Wirehouses And Regional Broker-Dealers
The firms on the 2013 “Leaderboards” were ranked based on self-reported data about their employee advisor channel. The data was gathered in a survey by OnWallStreet’s editorial team, and was announced on June 1. “This year's top performers took the steps necessary to...
Evolution of Financial Advisor Industry Continues
An overwhelming majority of financial advisors expect 2013 to be a better business year than 2012, according to an SEI survey released Tuesday, May 28. When asked their views on the direction of the economy as a whole, 41% of advisors polled predict “slow and steady...
1997 Bank Advisor Pay No Longer Based on Monthly Production
Recent data from Kehrer Saltzman & Associates reports that only about one in four advisors (24%) are paid based on their production in the current month, down from 58% who were paid that way in 1997. Today almost half of advisors (48%) are compensated based on...
CFP Board of Standards Looks to Increase Female Advisors
CFP BOARD OF STANDARDS LOOKS TO INCREASE FEMALE Financial ADVISORS “Growing the ranks of female CFP professionals not only makes good business sense, but it builds the heart and soul of this profession, which is all about helping Americans achieve financial security....
Infographic – 10 Best Apps for Financial Advisors
Big Firms Struggle to Replace Retiring Generation of Financial Advisors
Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. That’s leaving big firms struggling to replace a retiring generation of financial...
Advisor Channel Fastest Growing Segment of Industry
RIA assets are expected to account for approximately a quarter of the financial advisor asset market share by the end of next year, according to research from Boston-based global analytics firm Cerulli Associates. “The advisor channel is still the fastest-growing...
Need to Recruit More Women Financial Advisors
“The financial planning profession is expected to expand by 32 percent by 2020, more than twice as fast as other professions, according to the Bureau of Labor Statistics. Noting that 70 percent of women would prefer to work with a woman advisor, the need and the...
FINRA Withdraws Brokercheck Rule
FINRA’s proposal to require financial advisors to include a link to BrokerCheck on their Web sites and social media pages has been withdrawn—at least temporarily. BrokerCheck is an online tool investors can use to research the backgrounds of current and former...
How Will Transition Package Disclosures Affect Financial Advisors?
The proposed rule, put forth by the Financial Industry Regulatory Authority, would require financial advisors to disclose the bonuses and other compensation they receive when switching employers. If the rule goes into effect, it could influence how advisors weigh...
THINKING OF BUYING OR SELLING A PRACTICE?
If you are a financial advisor looking to acquire or sell a practice, Willis-Consulting Inc. can assist you in the process. Our practice acquisition specialists will help manage your transition and assist you in structuring a satisfying agreement that compensates you...
Independent Broker-Dealers Face Challenges With Rising Compliance Costs
“The independent broker-dealer space has all the elements of a high-adventure video game this year, and only the most advanced players may be up for the challenge.” Anticipating and navigating regulations is growing more daunting, while shrewder strategies are needed...
Financial Advisors: Beware of Making Unsolicited Marketing Calls
The National Do Not Call Registry “was established to try to limit the serious effect that telemarketing tactics were having on consumers,” according to Adrian LaRochelle, a staff attorney for the Bureau of Securities Regulation, in a phone interview with...
Ex-FINRA Employee Files Whistle Blower Suit
A former Financial Industry Regulatory Authority, Joseph Sciddurlo claimed in a suit filed last week that he worked as a principal examiner for FINRA in 2010 when he discovered that the regulator’s system allowed large firms to circumvent a Securities and Exchange...
Willis Consulting President Tours Raymond James
Bill Willis, Founder and President of Willis Consulting, Inc, presents an insider's look at the “home office visit” requirement for new financial advisors joining Raymond James. Making the tour himself at the headquarters in St Petersburg FL, Bill learned the firm...
Raymond James Rolls Out New Compensation Plan This Week
Dually registered financial advisors with at least $100 million in discretionary client assets under management will retain 100% of their advisory fees under a new compensation model that Raymond James Financial Services is rolling out April 1. The ongoing intense...
Wirehouse Financial Advisors “Happier” Than RIA’s??
An interesting survey by the Boston based consulting firm Elite Group has found that by a “slight” margin, RIA’s are not as happy with their careers as advisors in the wirehouses. Surprised and looking further into this, Eric Bruck, principal of Silver Oak Wealth...