Wealth Think

How some firms are now attracting and keeping planners

The job market for newly minted financial planners is wide open. Doubtful? Just ask XY Planning Network co-founder Alan Moore.

“There are more jobs than we know what do to with,” he tells me, adding that young people don’t pursue the career because they still believe it requires cold calling or even door-to-door sales. “We are having a problem finding enough students to get through planning programs, get their CFP and then get jobs,” Moore says. “Right now it’s very much a buyer’s market.”

Even once students realize there’s no door-knocking involved, there are certain hoops firms feel compelled to jump through to attract and keep promising talent. Salary is just one part of the equation, according to Financial Planning Senior Editor Charles Paikert.

“Millennials entering the workforce are going to want more work-life balance, flexibility and firm involvement in community and charitable causes,” Paikert tells me. Firms are paying attention.

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A woman walks with a business bag in the central business district in Sydney, Australia, on Thursday, Aug. 13, 2015. Australian business confidence fell in July, led by mining and construction firms as concerns mount about resource demand in response to China's faltering growth outlook. Photographer: Brendon Thorne/Bloomberg
Brendon Thorne/Bloomberg News

Just some of the perks they offer include volunteer days, relocation bonuses for advisors who move closer to the office and “fun committees” that arrange activities such as go-kart racing, according to Paikert, who wrote the main feature, “Pay Day.”

Wilbur Jenkins is the Executive Vice President & Chief Operating Officer at WoodmenLife an industry leader with more than $11 billion in assets where he leads Core Operations, Human Resources, and Strategic Initiatives with a focus on driving digital transformation to enhance the customer experience. His career includes senior roles at Argo Group International Holdings and Hartford Financial Services Group. Jenkins is known for his ability to lead cross-functional teams across enterprise-wide functions to achieve strategic goals.

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Headshot of Wilbur Jenkins

Gemma Ros is the chief technology officer at TheZebra.com, the company simplifying the insurance shopping experience. In this role, Gemma leads the engineering, DevOps, and data teams, driving innovation and operational excellence. She is an excellent source on technology innovation in the insurtech space, what it means to be an impactful and effective leader, her journey to the CTO role and more. 

Gemma is a senior technology executive and business strategist with more than 20 years of experience in financial services and product development. Gemma began her career as a developer at a bulge bracket investment bank, where she gained deep expertise in building robust, scalable, and low-latency trading and risk management systems in dynamic environments. After eight years on Wall Street, she co-founded a technology startup, then expanded her expertise to insurtech and private lending before joining TheZebra.com in 2022.

Throughout her career, Gemma has been recognized for delivering high-impact technology solutions, building and scaling high-performing teams, and attracting and retaining top engineering talent.

She holds a master's degree in computer science from the University of Pennsylvania and a bachelor's degree from Dartmouth College. Outside of her professional experiences, Gemma enjoys spending time with her kids, reading, and adding to her ever-expanding Lego collection.

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Headshot of Gemma Ros.

Brad LaPorte is chief marketing officer at Morphisec and a former Gartner analyst. He is a seasoned cybersecurity expert and former military officer specializing in cybersecurity and military intelligence for the U.S. military and allied forces.

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Brad LaPorte of Morphisec

“In addition to increasing compensation for employees in a tight job market, RIA firms are making sure employees feel like they’re having fun at work and enjoy working for their employer,” Paikert says. In his story, Paikert mentioned the coffee bar in Homrich Berg’s Atlanta headquarters, but “I wasn’t able to track down the juice bar that at least one RIA reportedly has in their offices,” he says.

Of course, you can’t pay bills with the proceeds from a go-kart race win or savings from free office coffee, so Paikert dived into salary metrics for advisors around the country.

In San Francisco, lead advisors’ total compensation package runs $193,000. Those in Dallas earn about 9% less. Maybe because they’re paying for the fresh-squeezed juice?

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