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Summary: Employees leaving quickly could mean that your team will never reach the success you’ve planned out for your business. And the question that needs to be answered here is ‘Why do employees leave a company?’ What is it that companies are doing wrong because of which they are not able to sustain good employees?
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Summary: I recently worked with an adviser whose firm has been expanding its ownership for the past 10 years. He summed up his succession planning process this way, “Succession planning should be about doing what's best for the clients, the business and protecting all of your constituencies.” In other words, succession planning is about taking care of your firm’s future.
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Summary: According to CEG Worldwide research, 70% of top financial advisors (those earning $1M or more annually) focus on a particular niche. Why does focusing on a target market improve an advisor’s chances of success? Here are some reasons.
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Summary: A majority of employees at advisory firms — both professional and nonprofessional — now receive a combination of base salary and incentive pay, industry studies find. But firms don’t seem to be satisfied with their pay packages and, at my consulting firm, the most highly requested engagement is for designing (or, more commonly, redesigning) incentive compensation.
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Summary: Over the past five years, the wealth management industry has been impacted by extraordinary forces simultaneously: demographic, technological and regulatory. The magnitude and pace of change in the delivery of financial advice is fueling a once-in-a-generation move toward higher standards of professionalism and innovation. Our industry can accelerate and facilitate this movement by providing better career starts for the next generation of professionals.
