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How Efficiently Are You Training Your New Broker Recruits?

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Baby boomers are starting to retire and the workforce is aging. It is estimated that one-third of all advisors are within 10 years of retirement. Is your firm prepared for this broker shortage?

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Veröffentlicht in: Business
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How Efficiently Are You Training Your New Broker Recruits?

  1. 1. L E A R N M O R E AT www.wileysecuritieslicensing.com/corporate-training SOURCES: http://dealbook.nytimes.com/2014/06/24/a-hunt-to-find-the-next-generation-of-financial-planners/ ?_php=true&_type=blogs&_r=0 http://wealthmanagement.com/business-planning/cerulli-one-third-advisors-leave-business-2024> www.forbes.com/sites/halahtouryalai/2011/04/06/faced-with-talent-shortage-merrill-wells-fargo-hire-new-blood/ The more you invest in training your recruits, the more productivity your firm receives and the more revenue you can realize sooner! You’ve committed to these new candidates. Give them the best tools to succeed. Bank of America has recruited 3,000 potential employees for their advisor-training program. They expect only 35% to graduate into the firm.That means 65% won’t graduate but were paid for training. Less than 20% of new hires survive past years 2 and 3 on a 4-year training program.YEAR 4YEAR 1 Recruits that fail cost MONEY. As much as $300,000 over a 4-year training program. $$$ HOW EFFICIENTLY ARE YOU TRAINING YOUR NEW RECRUITS? Consider this: Wiley Securities Licensing Exam Review Pass Rate = 83%ON AVERAGE

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