To Recruit Young Advisers, Show Them A Path

By Bijan Golkar
Source: InvestmentNews

 

I’ll never forget the line that prompted me to become a financial adviser: “You’d be an idiot if you don’t do this.” That blunt statement, made by Blair McCarthy, the adviser who had been recruiting me to join his firm, really got my attention. Until that point eight years ago, I had been waffling about whether to continue my successful mortgage brokerage career or accept Blair’s invitation to jump into the financial advisory field.

 

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Understand Gen Y’s ‘Portfolio Career’

By Dave Grant
Source: Financial Planning

 

As I’ve spent the last year and a half launching my new RIA, most of my focus has gone into building my practice, with a focus on marketing, networking and serving new clients. Yet along the way, I have also created multiple revenue streams — providing hourly online financial advice, writing and consulting; the most recent addition has been book royalties. Most of this was out of necessity; I needed income for my family. But it has become part of my career journey. And I’ve noticed that I’m not alone.

 

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Raymond James Reports Strongest Recruiting Year Since 2009

By Elizabeth Dilts
Source: Reuters

 

Brokerage and investment bank Raymond James Financial Inc just completed its best broker recruiting year since 2009, the firm reported on Thursday. The firm added a net of 68 U.S.-based advisers in the fiscal year ending Sept 30, 2013, bringing the total to 6,265 advisers. Actual recruitment was far higher, but many new hires were offset by brokers retiring and moving to other firms, said Paul Shoukry, Raymond James’ vice president of finance and investor relations.

 

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How To Hire The Next Generation

By Ingrid Case
Source: Financial Planning

 

Cameron Roehl, an advisor at Plante Moran Financial Advisors in Southfield, Mich., had a post-graduation job in the bag by the beginning of his senior year at Michigan State University in East Lansing. “I found out that I was getting a full-time offer during the first week of classes. It was such a load off my mind,” Roehl says. “I didn’t have to worry about … job fairs, recruiters, résumé prep, practice interviews. It made my senior year that much more enjoyable.”

 

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Lessons Learned During My First Six Months As An Adviser

By Stacy J. Caudill
Source: InvestmentNews

 

It seems that when things are meant to be, they have a way of working themselves out. Last fall, I was invited to be part of a new program through Raymond James, the Registered Service Associate Team Development Program. It was a privilege to be part of this pilot program, which was developed to encourage sales and service associates to branch out in their careers and develop a path that may lead to a broader role on their team — or even the possibility of transitioning to an adviser role. Six months ago, my path took me over that bridge, and I transitioned to a new role as a financial adviser.

 

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How To Start Your Own RIA Firm

By Mike Patton
Source: Investment Advisor magazine (via ThinkAdvisor)

 

In my previous article on the affiliation options that an advisor has, I led you to the point of deciding whether you wanted to be an employee advisor, an independent contractor advisor or your own registered investment advisor. This article assumes that you’ve now decided to make the move to become an RIA, just as I did. That decision, as difficult as it might have been, now leads to a host of other questions you must ask yourself, and some outside experts, before you’re able to hang up your own RIA shingle.

 

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10 Best Cities For Jobs In Financial Services: 2014

By Dan Berman

 

The economy might be on the upswing, but it’s still not easy to find a job. For the fourth year in a row, Accounting Principals released its list of the top cities to find financial services jobs. Several factors made 2014 a better year than 2013 for job hunters in the sector (and overall, with the U.S. unemployment rate at 6.1%). Accounting Principals used employment data from its branch offices to compile its list.

 

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Kitces, Brown Launch Recruiting Site For Indie Advisors

By Melanie Waddell
Source: ThinkAdvisor

 

Kitces’ New Planner Recruiting is launching a jobs board.
Advisors Michael Kitces and Caleb Brown announced Monday the launch of JobsFP, a recruiting website focused exclusively on listing job opportunities within the independent financial planning community. “While there are many jobs boards that offer opportunities for those who wish to affiliate with a broker-dealer or custodial platform to become a financial advisor and build a client base, we’ve continued to hear that firms hiring for employee staff positions struggle to find candidates,” said Michael Kitces, partner and director of research at Pinnacle Advisory Group and a ThinkAdvisor contributor.

 

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Finding A Young Adviser For Your Team

By Liz Skinner
Source: InvestmentNews

 

Grace Kvantas is a 25-year-old budding financial planner from North Carolina — and she’s in high demand. Advisory firms around the country are looking to hire young professionals like her to help them take on some of the increased tasks of the modern advisory practice, stay current in technology and trends, and attract younger clients. In addition, many advisers who hope to eventually step away from the business without abandoning clients are looking for successors.

 

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Top Advisers Break Away For Chance To Own Equity

By Mason Braswell
Source: InvestmentNews

 

With the financial crisis fading further into the background, advisers are once again looking for the ability to own equity in their firms, this time at independents. Equity-based compensation has taken off in the six years since the crisis, with new players emerging, including investment adviser roll-up firms and consolidators who lure top talent with the promise of an ownership stake. Some of the largest adviser moves in the third quarter were teams who left wirehouses to join businesses that offered company shares for those willing to take the risk of getting in early, according to moves tracked by InvestmentNews’ Advisers on the Move database.

 

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