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Summary: Advisers looking to grow their businesses should carefully plot the expansion of their practice. They should expect to suffer a little, too.Business leaders who have succeeded in scaling their companies — growing, say, from two people on staff to 200 — did so with a focus on spreading their convictions, not their geographic reach, two professors at the Stanford Graduate School of Business say in a book due out next month.
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Summary: Across the industry, planning firms are scrambling to find new talent. Since experienced advisors are hard to attract and often command big pay packages, many firms are shifting their recruiting efforts to focus on younger advisors, with few (if any) existing clients.
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Summary: Even if colleges ramp up degree programs in financial planning and related fields, advisory firms are going to have to rethink their hiring philosophies to meet the growing demand for investment advice, according to industry representatives and academics.
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Summary: Every year brings its own set of challenges, as unseen trends suddenly emerge while older trends come to fruition, as unexpected market events make fools of the prognosticators and disruptive technologies change our lives. Here are 10 issues to think about as we enter 2014 – offered with humility and respect for the world's ability to surprise us.
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Summary: If the graying financial services industry is to replenish the ranks of retiring advisors and brokers, firms and trade groups must take a more active role in promoting the field to millennials and countering the tendency of young people to associate all professions in the sector with the worst excesses of Wall Street.
