From CNBC
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Summary: The statistics on the unhappy fates of family businesses are well known in the wealth-management world. Only 30 percent of family businesses make a successful transition from the founders to the second generation, 13 percent make it to the third generation, and just 3 percent make it to the fourth.
From Financial Planning
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Summary: Few companies aim for high turnover and low productivity. Yet many lack a clear strategy for onboarding new staff, and the lack of an onboarding process has been shown to increase employee turnover and decrease productivity.
From Financial Planning
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Summary: Ric Edelman is looking to hire a successor.The founder of one the largest RIAs in the country is actively headhunting for a new president and chief operating officer for Edelman Financial Group -- and hopes the new hire will ultimately replace Edelman himself as CEO.
From Financial Advisor IQ
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Summary: Hiring millennials can pump new life into an aging advisory workforce. Keeping them around and making sure they’ll succeed is another matter, says The Wall Street Journal.
From Wall Street Journal Online
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Summary: Not all of the interaction between advisers and clients is qualitative. For the many quantitative tasks that can eat up precious time, I think hiring an intern can be a great solution. Interns are especially useful for projects that are repeatable and finite. For example, this summer my firm's two interns are updating all of our investment-policy documents, a task we perform every three years.
