7 Reasons Your Associate Advisor/Paraplanner May Already Be Looking To Leave

By Michael Kitces and Alan Moore
Source: Nerd’s Eye View blog

 

In today’s guest blog post, Alan Moore – a “young” Gen Y advisor himself and co-founder of the XY Planning Network that helps young planners develop viable businesses working with their young peers – lays out some of the most common reasons that today’s paraplanners and associate advisors are breaking away from the firms they started with to launch their own instead. And as Alan reveals, the common reasons articulated for why advisors leave really are often driven by firm owners who, in the process of fearing that their advisors might leave, may actually be accelerating the outcome they’re trying to avoid!

 

Read the rest of the story…

 

 

Indie Reps Happier At Work Than Employee Advisers: J.D. Power

By Minda Smiley
Source: InvestmentNews

 

Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction between the two groups is narrowing.

 

Read the rest of the story…

 

 

Solo RIA: Lessons From Year 1

By Dave Grant
Source: Financial Planning

 

A little over a year ago, I left a firm of 12 employees and became a “solopreneur” in a fee-only planning practice, branded to focus on teachers, primarily in Illinois. In the six months of planning before my launch and all the way through, I had to learn that any business decision I made could bring joy or heartache, and I would be the one to enjoy or fix it. If a tech problem occurred, it would be me on the phone to tech support. If a client handed me a stack of paperwork, I would be clearing my afternoon to ensure it was organized and scanned.

 

Read the rest of the story…

 

 

Top U.S. Securities Brokers Changing Jobs Less Often As Market Recovers

By Elizabeth Dilts
Source: Reuters

 

After years of jumping from one firm to another, U.S. securities brokers are changing jobs less frequently and the largest brokerage firms say they are seeing their lowest attrition rates in years as financial markets strengthen.

 

Read the rest of the story…

 

 

Can You Start An RIA With No Prior Experience?

By Chris Latham
Source: Financial Advisor IQ

 

Shortly after leaving the Army in 1973, David Diesslin got a job as a packing-division manager for popcorn king Orville Redenbacher. A few years later he was working in warehouse distribution at Abbott Laboratories. Later he became a real estate broker. He had been interested in investing since childhood, eventually taking care of his father’s money as well as his own. But it wasn’t until 1980 that he became a professional advisor — by opening a solo practice in Fort Worth, Texas.

 

Read the rest of the story…

 

 

The Engineer

By Diana Britton
Source: Wealth Management

 

Craig Stuvland formed his company to “fan the flame of independence” in the financial services space. He saw a need to help investment advisors and wealth managers with assets anywhere from $300 million to $1 billion go into business for themselves. In his model, called tru Independence, advisors keep 100 percent equity in their firm, relying on Stuvland for financing, consulting, branding, real estate, vendors, public relations, compliance, etc.

 

Read the rest of the story…

 

 

Top 10 Metro Areas With Highest Pay For Advisors: 2014

Some Metro Regions With High Pay Are Off The Beaten Path
By Dan Berman
Source: ThinkAdvisor

 

There are many factors that go into the decision of where financial advisors should ply their trade. Two years ago, ThinkAdvisor looked at the metropolitan areas in which advisors are paid the most. Now it’s time to update the info with the latest data from the Bureau of Labor Statistics. Here are the Top 10 Metro Areas With Highest Pay for Advisors: 2014.

 

Read the rest of the story…

 

 

Five Ways To Expand Ranks Of Female Independent Advisors Through Mentoring Programs

By Marissa Fox-Foley
Source: Wealth Management

 

In a special closed door session at the First Allied Securities national annual conference in San Diego this week, I met with a diverse group of female independent financial advisors. Some of these advisors were in the early phases of building their own independent businesses, while others have been established for a number of years now.

 

Read the rest of the story…

 

 

Ameriprise Makes Its Move Upmarket By First Moving Its Bonus Payouts To Wall Street Levels

By Lisa Shidler
Source: RIABiz

 

Ameriprise Financial is offering 150% of an advisor’s last 12 months of revenue as its base recruiting bid in an attempt to zap its recruiting efforts back from the dead, according to a Reuters article published Thursday. The Minneapolis-based giant has had lackluster recruiting results, according to a Reuters database where it tracks firms’ numbers. The decision to jack to 150% from 120% an advisor’s last 12-months of revenues — 25% — in a public bid for advised assets was revealed in a recent call with analysts and recruiters.

 

Read the rest of the story…

 

 

Advice Firms Find Residency Programs A Staffing Boon

By Murray Coleman
Source: Financial Advisor IQ

 

Taking their cue from the medical field, advisors are turning to residency programs to help bring new blood into an aging workforce. Instead of recruiting young professionals with a couple of years’ experience selling insurance or mutual funds, firms are hiring total rookies and giving them on-the-job training. The trend is opening up a new talent pool for advice firms, as those offering residencies can hire kids straight out of college — at least if the college offers financial-planning coursework. More than 100 currently do.

 

Read the rest of the story…