Week's Best Quotes: 'We're Falling Short as a Profession,' Says CFP Board Head to Female Advisors
From gender inequality in the financial planning profession to the expansion of financial education and wellness programs, here are the most notable quotes from the past week's stories.
We think the [recruiting] pipeline is solid for next quarter. … The slowdown was an industry-wide one, and so we think the net new advisors we ultimately delivered is one of the industry's leading outcomes.
– LPL Financial CFO Dan Arnold on higher-than-expected expenses that depressed the firm's first-quarter profits and why the company is anticipating strong growth for 2014.
Read the story: Costs Squeeze LPL Profits as Recruiting Slowed.
It gives us a nice triangle in the region ... The three companies have very similar models with a heavy planning orientation.
– Mariner Chief Executive Marty Bicknell on how the RIA has inked a new deal that brings it to nearly $10 billion in assets and strengthens its Northeast footprint, acquiring a majority interest in Jersey Shore firm Housen Financial Group. (The deal follows Mariner's acquisition of majority stakes in Madison, N.J., firm Brinton Eaton in 2012 and New York's RR Advisory Group late last year.)
Read the story: Mariner Nears $10 Billion With Latest Addition.
[Financial planners and advisors] should help owners start the process, they should be the quarterback for the team that the owner needs to assemble and they should be the point person for the liquidity event after the sale.
– Christopher Snider, CEO of the Exit Planning Institute, on how an estimated 3 million business owners are expected to sell their companies in the next five years and why they're going to need plenty of help.
Read the story: Big Opportunity: Helping Business Owners Sell.
We're falling short as a profession.
– CFP Board Chairwoman Nancy Kistner – and current chairwoman of the Women's Initiative advisory panel, on the lack of female CFPs.
Read the story: For Female Advisors, a $32K Pay Gap.
The older [clients] are not that profitable, and they're going to get less profitable over time.
– Mark Hurley, chairman of the Fiduciary Network, on why bringing on new talent helps pave the way for a succession plan that protects existing clients while creating a payout for the founding partner.
Read the story: Succession Planning: How to Partner With a Younger Advisor.
We're seeing more and more [financial education and financial wellness programs] come into the marketplace, and the number of employers implementing workplace financial wellness programs is rising significantly.
– Financial Finesse CEO Liz Davidson on why employees aren't the only ones experiencing what she calls a