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.


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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.


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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.


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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.


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Ways New RIAs Can Grow Their Practices

By Ron Brock and Dave S. Gilreath
Source: Financial Advisor


All too often, advisors and brokers leave wirehouses with the misguided belief that if they build an RIA, clients will come — even though they lack a sound strategy for building clientele.


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If You Go Indie, Will Clients Follow? The Great Leap Of Faith

By Ellen Uzelac
Source: Research Magazine


A new wave of advisors is flirting with the independent channel—a move fraught with uncertainty, tinged with promise, and dominated by one core question: Will my clients follow me?


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Why I Left A Traditional RIA For A Robo-Adviser

By Megan Graf
Source: InvestmentNews


Before I moved to FutureAdvisor, I was working for a registered investment adviser with $50 billion in assets under management, expanding their high-net-worth business globally. I received rigorous training, mentorship and great opportunities as the firm expanded. I had every expectation of a long and successful career there. So why leave?


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Online Advisers Target The Best And Brightest New Hires

By Joyce Hanson
Source: InvestmentNews


When online investment manager FutureAdvisor announced earlier this month it had raised $15.5 million in venture capital from Canvas Venture Fund, the startup said a large portion of that money would go toward new hires.


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Where Is The Next Generation Of Wealth Management Professionals?

By Andrew Parish
Source: Wealth Management


There has been a significant amount of conversation over the past few months concerning the troubling demographics within the wealth management industry. Specifically, the fact that the industry is old, white and male. While this certainly isn’t a new phenomenon, the pressure that firms are feeling to diversify their ranks is beginning to build. In the same way that the baby boom generation is beginning to put pressure, demographically, on different levels of society and finance – they are also nearing retirement from the advisor ranks. The problem is there are precious few waiting to replace them.


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RJFS Forecast: Best Recruiting Year Since ’09

By Charles Paikert
Source: Financial Planning


WASHINGTON – Raymond James Financial Services is on track to have its best recruiting year since 2009, according to Scott Curtis, president of the division. In that unusual year, Raymond James recruited close to 600 new independent advisors, according to the company’s annual report, many of whom were fleeing large wirehouses during the financial crisis. Altogether, the company netted 129 new advisors in its 2009 fiscal year.


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