The Next Gen Advisor

A recent study found that firms with Millennial advisors on their teams saw assets increase by an average of 20% annually, compared with 11% for those who didn’t.1

The Next Gen Advisor program will help leaders understand generational personalities and help them become more effective at recruiting and retaining the next generation of financial advisors.

 


Recruiting the next generation of advisors

Our industry is in the midst of a labor shortage. While the demand is high to fill open roles, Millennials are showing little interest in pursuing a financial advisor career path. As a result, by 2026 there will be a shortfall of over 312,000 advisors.1 So how do you attract the young talent?

debunking industy stereotypes
debunking industy stereotypes
building a millennial talent pool
building a millennial talent pool
Resonating with millennials
Resonating with millennials
The interview: not your dads interview
The interview: not your dads interview
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Retaining the next generation of advisors

In an industry where turnover is high, it’s no surprise that 87% of employers say improving retention is critical for their organization.1 To remain competitive, it is vital to evaluate your retention strategy by focusing on what drives the Millennial generation.

1U.S. Bureau of Labor Statistics. (2018). Employment Projections Program. Retrieved from U.S. Bureau of Labor Statistics.

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1U.S. Bureau of Labor Statistics. (2018). Employment Projections Program. Retrieved from U.S. Bureau of Labor Statistics.

2Makovsky. (2016). 2016 Wall Street Reputation Survey. Retrieved from Makovsky Inc.

3Kantar Futures. (2017). Redefining the C-suite: Business the Millennial Way. Retrieved from American Express Services Europe Limited.

4Gallup. (2016.) How Millennials Want to Work and Live.

5Hanson, J. (2014, Feb 3). One-third of advisers plan to exit business within a decade. Retrieved from InvestmentNews.

6Achieve. (2014, Nov). Inspiring the Next Generation Workforce: the 2014 Millennial Impact Report. Retrieved from The Millennial Impact.

7Hillhouse, A. (2012, Oct. 4) Consumer Insights: MTV’s ‘No Collar Workers’.

8Execu-Search. (2017). 2017 Hiring Outlook: Strategies for Engaging with Today’s Talent and Improving the Candidate Experience. Retrieved from Execu-Search Group.

9Deloitte. (2018). 2018 Deloitte Millennial Survey: Millennials Disappointed in Business, Unprepared for Industry 4.0. Retrieved from Deloitte Touche Tohmatsu Limited.