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Summary: InvestmentNews compares data from the recent InvestmentNews/Moss Adams 2013 Compensation & Staffing Study, which collected compensation information from over 400 firms for over 2,000 positions, against data gathered from Salary.com to see how adviser compensation compares against other seasoned professionals in the workforce today. Here is how they stacked up.
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Summary: Many service companies, including retailers, call centers, and security firms, can reduce costs and make better hires by using short, web-based psychometric tests as the first screening step. Such tests efficiently weed out the least-suitable applicants, leaving a smaller, better-qualified pool to undergo the more costly personalized aspects of the process.
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Summary: The advisory industry will shed more than 25,000 financial planners over the next four years, down to just more than 280,000, according to research firm Cerulli Associates. It's bad news for the advisory industry overall, but there is some good news for RIAs.
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Summary: The right hires -- made in the right way, and at the right time -- are critical to retaining talent and fueling growth for financial advisory firms.That’s according to three innovative advisors who shared some of their human capital secrets this week at the FPA’s annual conference and via a new white paper.
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Summary: The article reviews the important questions for succession and growth. Ask the right the questions of yourself and your potential partner or new hire. The right questions are as important as finding the right answers. Understand that people are not puzzle pieces and acknowledge that it is a relationship you seek to build. This will impact your approach. Thank you to Advisor Perspectives and Beverly Flaxington for inviting me as a guest columnist.
