How To Attract Top Talent In A Sellers Market

By Charles Paikert
Source: Financial Planning


How can RIAs attract top-tier wealth management talent in a sellers market? Be realistic, creative and try to out-maneuver the formidable competition from banks, wirehouses, regionals, trust companies and other financial service giants, says Kathy Freeman, president and founder of the eponymous executive search firm based in San Luis Obispo, Calif.


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Young Professionals: Demonstrating Initiative Above And Beyond

By Laurie Belew
Source: ThinkAdvisor


The concept of initiative, of demonstrating capabilities beyond the formal job description, is often discussed among young professionals. They are eager to prove themselves capable of adding value to the business above and beyond their daily job requirements. When I joined my company, I wanted to make myself an irreplaceable part of the team. What better way to ensure job security, right? As the management team now leads the firm forward, we aim to make the company stronger by providing opportunities for young talent to feel empowered in and energized about their unique roles in the firm. Unfortunately, it is sometimes difficult to figure out how to create those opportunities for both young professionals and firm leaders.


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XY Planning Brings Betterment Institutional To Next-Gen Clients

By Emily Zulz
Source: ThinkAdvisor


In an effort to bring investment-related services to the younger generations of clients – who often hold smaller accounts – XY Planning Network has partnered with Betterment Institutional, an end-to-end digital solution for RIAs. “Providing investment related services to smaller accounts is incredibly time consuming, and forces many advisors to focus on high-net-worth clients,” said Alan Moore, co-founder of XYPN, in a statement. “Betterment Institutional brings investment management services to an entirely new generation of client.”


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Bank Of America Chips Away At Brokerage Industry Truce

By Elizabeth Dilts
Source: Reuters


For the last decade, Wall Street brokerages have had a pact not to sue brokers that leave their firms and try to take clients with them. Now Bank of America Merrill Lynch, one of the founding signers of the truce, is taking steps to erode the agreement, industry lawyers say. The bank is making it harder for brokers to take some of their clients with them when they leave Merrill Lynch—specifically, clients that were referred to the broker by a Bank of America branch. Brokers in recent months have been asked to sign contracts saying that if they leave Merrill Lynch, they can’t take the names or phone numbers of those customers with them, because those clients belong to the bank.


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When You Move, Clients Move Too

By Mindy Diamond
Source: Wealth Management


For an advisor, a prospective new firm and a nice up-front check might be the best thing since sliced bread, but if a sizeable portion of the client base doesn’t follow, the move could prove disastrous. So before an advisor’s thought process starts to revolve around nicer office space, greater payout, or the ability to do more business, he or she must first consider things from their clients’ perspective.


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An Investor-Friendly Way To Switch Broker-Dealers

By Mark Elzweig
Source: ThinkAdvisor


It’s always best to sell your move from one broker-dealer to another by telling clients how you can better service their account at the new firm. There’s also an investor-focused approach: Compare the broker-dealer move to moving out of one stock and into another. By taking this investor-friendly tactic, you are giving clients a clearer outlook.


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How Do Your Employee Benefits Stack Up?

By Caleb Brown
Source: New Planner Recruiting blog


As the season of year-end employee reviews has wound down, growing firms are now turning their attention to hiring for 2015, from filling new full-time positions to getting a head-start on interviewing for summer interns. Accordingly, this month we will discuss a few ideas to ensure your employee benefit package is still competitive to attract the best and brightest candidates with the most potential.


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Recruiters Panel: What’s Your Move?

By Ralph R. Ortega
Source: On Wall Street


One of the cold, hard realities in wealth management of recent years remains true to this day: There is a supply-and-demand problem. The biggest firms are falling short of filling the pipeline with a steady supply of young financial advisors who can replace an aging advisor population within the employee advisory channel, according to our annual grouping of the wealth management industry’s top recruiters.


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Every Young Adviser Needs A Successful Mentor

By Grant Webster
Source: InvestmentNews


My first seven years as an adviser have been a rollercoaster ride, with many more ups than downs. The learning curve to becoming an adviser is steep and the skills needed to succeed in this industry are vast and ever-changing. Not only are technical and analytical skills important, equally so are relationship skills and the ability to connect with your clients.


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TD Ameritrade Launches Free Career Site

By Megan Leonhardt
Source: Wealth Management


TD Ameritrade Institutional rolled out a free internship and job search site on Thursday to help RIA firms attract and groom the next generation of advisors. On the new site, the RIA NextGen Career Exchange, students can post resumes, as well as search job openings at RIA firms. Advisors can also search for job opportunities or search for candidates for job openings. It’s a free service.


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