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Summary: Advisors grappling with hiring costs can take heart: Wooing and retaining young advisors goes beyond cash compensation, industry experts say. Younger workers are motivated by a variety of other factors, many of which require less upfront cash outlay. Consider including some of these benefits in your recruiting pitch.
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Summary: On average, financial advisors say their clients should expect Medicare to cover about three-fifths of their annual health care costs. Couple this with numerous studies that show the average American has not yet saved enough for retirement, and the 10,000 Baby Boomers who are retiring each day, and an alarming picture begins to come into view.
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Summary: No matter how carefully you hire, inevitably your employees will differ in important ways. Some will be good-humored, intelligent, have a strong work ethic, and always be eager for new challenges. Others will be less so, or worse. You want to do everything you can to keep the first group, because they are critically important to the company's success. Here are five things you should do to retain your top performers.
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Summary: Advisers looking to build relationships with accounting professionals should take a deliberate approach and recognize that right now — as certified public accountants are gearing up for their busiest days of tax season — is probably not the ideal time to request a first meeting.
Added on February 2014 in Join an RIA
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Summary: As the financial services industry continues to evolve with different channels of back-office support, smaller practices have greater opportunities for ownership, the ability to customize the way they serve their clients as well as greater financial rewards.
