When I talk to new financial advisors, there is a common theme running through what they seek in their career: mentorship.  New financial advisors are becoming more aware of “knowing what they don’t know” and realizing they need to learn from an experienced advisor or RIA before they are ready for managing a high net worth individual’s financial situation without direct supervision.

The fact that new financial advisors place such a high emphasis on mentoring is a sign that they desire additional knowledge/wisdom/experience and should be viewed as a positive step in the transference of the profession’s body of knowledge to the future of the industry.

RIA firm owners who tend to cringe when hearing “mentoring/mentorship” should remember that the faster you can develop your new hire, the sooner you can do the things you need to be doing to grow your business further, or want to be doing to balance your work and personal life!  Read More