Wirehouses Still Attracting Adviser Talent

By Mason Braswell
Source: InvestmentNews

 

Despite the growing list of options for advisers who want to break away from the wirehouses, the big four are holding their ground in the recruiting war for veteran advisers and account for the majority of the deals in the industry.

 

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My 10-Year Journey From A BoA Call Center To Establishing A Solo $73-Million AUM RIA

By James Osborne
Source: RIABiz

 

In 2004, I was 21 years old, just out of college with a liberal arts bachelor’s degree and newly married. I had no idea what I was going to do with my life. We were living in the Denver suburbs and I knew that I needed a job if we were going to pay the rent. I applied for a job with Columbia Management Investment Advisers LLC — a mutual fund firm then owned by Bank of America — for their inbound call center in Aurora.

 

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Young Advisers Need Help Developing ‘Soft Skills’ For Serving Clients

By Liz Skinner
Source: InvestmentNews

 

Daniel Mock, 24, is highly educated, graduating college with a double major in economics and political science. He later added a master’s degree in quantitative economics. But when he started his career as an associate adviser with FMB Wealth Management last year, he lacked the communication skills that some more seasoned advisers take for granted.

 

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FiNet President: Wells Fargo ‘Loves Our Growth Story’

By Janet Levaux
Source: ThinkAdvisor

 

Wells Fargo Advisors’ (WFC) independent channel has been on a tear. WFA Financial Network, known as FiNet, added 99 advisors in 2014. “It was a very successful year, with record revenue and earnings, and another solid year for recruiting,” said FiNet President Kent Christian in an interview with ThinkAdvisor.

 

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Young Advisers Report High Job Satisfaction

By John Manganaro
Source: PlanAdviser

 

A LIMRA study suggests upwards of nine in 10 young financial advisers are satisfied with their career prospects. The “Young Advisor Snapshot” report is the first in a LIMRA research series that covers the experiences of young advisers. LIMRA says the forthcoming series will focus on all stages of adviser career development, from early recruitment stages to building a successful practice.

 

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Regionals Ride Recruitment Wave — Why Big Firms Worry

By Andrew Welsch
Source: Financial Planning

 

Regional broker-dealers are in the midst of a recruiting renaissance. After posting record numbers in 2014, executives and branch managers say that they are keeping up the momentum. “I’m very comfortable that we can get to the numbers we made last year and maybe get a little bit above them,” says Pat Vaughan, who oversees nearly 700 advisors as east division director at RBC. Several regional firms are making efforts to ensure this year matches the recruiting successes of 2014, a banner year for many.

 

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How Exactly I Started A Specialized RIA For Under $10,000

By Andrew McFadden
Source: RIABiz

 

About a year ago, I read an article about a young financial advisor named Sophia Bera who made the leap to start her own firm (Gen Y Planning), and did so on less than $10,000. Encouraged by Bera’s story of success and thrift, I began to research in detail what I would need to do to start my own registered investment adviser firm in a similar fashion. I’m 31 and have 10 years experience in the financial industry, including four years as a stock analyst for The Applied Finance Group in its Fresno Calif. office. Most recently, I was a client advisor at Regency Investment Advisors, also in Fresno, from 2012 to 2014, assisting other advisors in the office with financial planning projects.

 

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When Rising Up The Ranks Pays Off

By Maddy Perkins
Source: Financial Planning

 

In a city like Fort Worth, if you burn bridges, people are going to hear about it quickly. That’s something I learned from my dad. He was respected in his community and I wanted to be, too. – Melinda M. Johnston, managing director, wealth management, Rodgers, Johnston, & Thompson of UBS, Fort Worth, Texas.

 

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Forget Personality Tests, Edward Jones Uses Job Simulation To Assess Potential Hires

By Liz Skinner
Source: InvestmentNews

 

Edward Jones has eliminated personality testing as part of its process to find the best financial adviser candidates. Instead, it’s finding more success with a 16-step hiring process that includes a “day in the life” simulation.

 

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Letting Someone Go

By Caleb Brown
Source: New Planner Recruiting

 

Terminating an employee can be one of the most nerve-wracking and difficult things a business owner has to face in their career. When a team member is underperforming the effects ripple through the entire organization whether it be: the supervisor purposefully avoiding confrontation prolonging the issue, co-workers becoming upset with the increased work load, and the employee feeling angry and/or frustrated they are not delivering and letting the team down.

 

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