There are only four ways that a brokerage firm can grow. It can increase "same store sales" (growing revenue from existing practices), recruit from the competition, acquire another firm (which is really just recruiting en masse) or bring on and train new advisors. Of these possibilities, only the last adds to the existing pool of talent.

Virtually every firm faces the same demographic challenge: its sales force is aging. Successfully training new advisors solves the problem of the older advisor, reduces the costs of recruiting (by increasing supply) and has the benefit of having a homogeneously trained pool of advisors.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access