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Summary: An increasing number of growing advisory firms reaching from outside the business to bring in professional managers -- as they should be doing, say industry experts. So what should firms seeking to bring in outside professional managers be looking for, asking and offering?
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Summary: Professors at the leading financial planning programs say many of their graduates have little trouble finding work in an industry that is hungry for talent. The majority of William Paterson's spring 2013 financial planning graduates have already landed jobs, many with RIA firms. Texas Tech University, which houses the nation's biggest financial planning program, boasts a 95% placement rate.
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Summary: A select group of financial advisors have already reached more than $50 million in assets under management despite having less than five years of experience. This group accounted for just 5.1% of the more than 2,100 financial advisors surveyed recently by CEG Worldwide, but their success led us to ask: This slide show provides an overview of what traits and behaviors help set this group apart.
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Summary: It’s a happy milestone when a financial-advice firm grows big enough to warrant hiring support staff. It can also present a fresh challenge for the founding advisor, who may never before have thought much about how to find trusted employees. WealthManagement.com offers guidelines to help ensure your practice doesn’t turn into a revolving door for underperforming, dissatisfied staffers.
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Summary: Pershing and FA Insight, a Tacoma, Wash., research and consulting firm, estimates that the industry needs 237,000 new advisers within the next 10 years to keep pace with market demand as well as replace those retiring. An average of about $850 billion in new investable assets will come available each year over the next decade.