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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Ten Interview Questions For Hiring The Best Advisors

By John Kador
Source: REP. (via WealthManagement.com)

 

Hiring quality financial advisors is not easy. Sure, you can hire by the numbers, but that’s no guarantee. Financial planning is an intimate, deeply personal service, so the best candidates are those who display those high levels of empathy, listening skills, and values-based decision-making combined with analytical skills and a motivated work ethic.

 

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8 Tips From Career Changers

By Katie Kuehner-Herbert
Source: Financial Planning

 

Many advisors begin their professional lives in other fields — some seemingly far removed from financial planning. But having learned another trade may yield skills that turn out to be useful in advising clients about their finances. An eclectic set of eight advisors who migrated from other professions — from a geologist to a TV saleswoman to a policy analyst for a Canadian prime minister — cite key skills honed in their prior careers that have helped distinguish them as planners.

 

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Why Do RIAs Choose Their Profession?

By Sabrina Bachai
Source: ThinkAdvisor

 

A Schwab Advisor Services RIA talent study examined the characteristics of the profession and the paths the advisors had taken. The 571 advisors surveyed shared four different views on the RIA industry: becoming an RIA, being an RIA, career management and recruiting. Ninety-three percent said that an important benefit was improving the financial well-being of their clients, according to a statement.

 

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New Online Career Center To Link Students With Firms

By Megan Leonhardt
Source: Wealth Management

 

To help combat the lack of awareness among students and young professionals around the advisory industry, Fidelity Investments and the Certified Financial Planner Board of Standards are teaming up to launch a new career center tool aimed at bringing together firms and talent.

 

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Looking For Growth? Go West

By Andrew Welsch
Source: Financial Planning

 

To boost AUM and profits, broker-dealers are going in a new direction: West. Firms like Raymond James, Baird and Wells Fargo are pursuing expansions in Seattle, Silicon Valley and Southern California, where many broker dealers historically have had little or no presence. The firms are being pulled by the allure of new wealth creation in the region, promising rich rewards for those willing to put forth the additional effort. “Wealth management firms are going to gravitate where the money is,” notes Bill Butterfield, research analyst at Aite Group.

 

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How Merrill Lynch’s Divorce Of Its Own $2.5-Billion Team Shows Just How Fed Up The Wirehouse Is With RIA-Bound Breakaways

By Brooke Southall
Source: RIABiz

 

In what could well be an emerging trend of making a final goodbye out of what used to be just a wrist-slapping infraction, Merrill Lynch fired an advisor team from its elite Private Banking and Investment Group for advising clients on the purchase of a hedge fund not on the Merrill Lynch platform. Stephen S. Brown and James P. Goetz, of Pittsford, N.Y., who managed about $2.5 billion of assets, left Merrill Sept. 9, according to Reuters and InvestmentNews.

 

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