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Advisors, Take a Bow: The 2013 People and Pay Study
From Think Advisor
Added on November 2013 in Manage Your Practice
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Summary: This year marks the fifth release of the annual FA Insight “Study of Advisory Firms.” The five-year history of the studies underscores the resilience of the advisory industry. During this period, notable for a global financial meltdown that shuttered major Wall Street firms, advisory firms struggled to maintain their footing. Trying times forced firms to tighten management controls with a new level of discipline that appears to have held through a return to stability.
How adviser salaries stack up to other professions
From InvestmentNews
Added on November 2013 in Manage Your Practice
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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.
As RIAs grow, more hiring chief operating officers to manage their firms
From InvestmentNews
Added on November 2013 in Manage Your Practice
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Summary: David Wright is facing a pleasant predicament. Since 2008, assets under management at Sierra Investment Management Inc., the registered investment adviser he co-founded in 1987, have more than tripled to $1.75 billion, and head count has nearly doubled to 20, so Mr. Wright has been forced to look for extra help managing the business. Mr. Wright is part of a growing number of RIAs on the hunt for a chief operating officer to run the day-to-day business, giving advisers time to focus on prospecting for clients and managing portfolios.
Graying of America means opportunity for young advisers
From InvestmentNews
Added on November 2013 in Manage Your Practice
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Summary: America is a graying society, but for the wealth management industry, that could mean opportunity for young advisers.“Panelists discussed the reasons college graduates and people changing their careers might consider becoming a financial adviser at the InvestmentNews NextGen Virtual Career Fair.
Why young advisers need mentoring
From InvestmentNews
Added on November 2013 in Manage Your Practice
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Summary: If financial advisers want to build a strong and sustainable business, they need to develop a mentoring program for young employees. “I've seen a lot of great people wash out of the business in their first two or three years,” Christine Gaze, TD Ameritrade Institutional's director of practice management, said during InvestmentNews' NextGen Virtual Career Fair on Friday.
