Willis Consulting Blog

  • MyRA–a Breakthrough?

    If it would cause millions of low-income Americans to save for retirement who are not currently doing so, then, it just might be a “breakthrough”. [pullquote]I think it’s going to cause a lot of people to actually get started saving[/pullquote]Sheryl Garrett, head of Garrett Network of financial planners, told Ann Marsh, reporter for OnWallStreet.com, “I […]

  • MyRIA? Or MyIR?…OH!…MyRA

    From praise to scorn was the reaction on Wall Street to President Obama’s announcement in his State of the Union address of the new MyRA retirement plan for low- to middle-income Americans. But one thing is for sure, many big questions remain to be answered. “The very fact that the name is similar to another […]

  • Financial Advisor Jobs Projected to Grow 32% by 2020

    The Bureau of Labor Statistics has indicated that financial advising jobs are projected to grow 32% between 2010 and 2020. This will result in the addition of 64,000-plus jobs during that time frame. Good news to be sure. A driving factor behind this growth in jobs is the increased demand for financial advice, which is […]

  • Survey Shows Demand for More Minority Financial Advisors

    An overwhelming majority of Hispanic and African-Americans say that financial services firms need to hire more diverse staffs, according to a survey conducted by Harris Interactive on behalf of Edward Jones. The Hispanic and African-American populations represent 17% and 13% of the total population respectfully, yet each is represented in less than 5% of the […]

  • Ready to Move? Observe Broker Protocol

    Tom Walrond, North Atlantic regional director with Raymond James & Associates (and a very successful recruiter in his own right) says, "The key to a successful transition is to thoroughly plan and prepare for moving your practice. The amount of time you invest on the front end is directly correlated to the success of the […]

  • Young Advisors Build Confidence Using Old Tactics

    “Clearly, wisdom, experience and a shock of grey hair come in handy when an advisor wants to exude a sense of confidence, trustworthiness and competence to a prospect. When potential clients are stressed or anxious, the age of an advisor becomes even more important. When there is a significant market downturn or adverse personal event, […]

  • Create a Vision for Success in 2014

    If you don’t know where you’re going, it’s going to be hard to get there. Every successful financial advisor (or recruiter!) requires a mission and a plan, and the beginning of a new year is the perfect time for anyone to create a strategic plan for a balanced life and successful career. Try this…it works! […]

  • Will Regulatory Screws Loosen in 2014?

    By: Joe Adler, OnWallStreet.com An interesting excerpt from the December 27 article: “Bankers have almost become used to the intense growth of new rules in the five years since the financial crisis, but some see a light at the end of the tunnel as the agencies inch toward the end of Dodd-Frank rulemakings and the […]

  • Merrill Offers Bonus to Encourage “Team” Approach

    Bank of America Merrill Lynch is planning to reward brokers who team up to help clients with financial planning. As part of the Merrill’s 2014 compensation plan, which was rolled out to some 14,000 advisors last week, the firm is adding a Merrill Lynch Client Experience Achievement Award, a new strategic growth award and enhancements […]

  • Build a Relationship with Your Financial Services Recruiter

    It’s a “given” that if you are considering a career in the financial services industry, or if you are considering a move within the industry, you’ll want and need the expertise of an experienced and proven financial services recruiter. But don’t just engage a recruiter, build a relationship. The best recruiter-job seeker relationships are mutually […]

  • Financial Services Stagnant in Minority Representation at Executive Level

    “Minority representation at entry-level and mid-level positions in financial services has been increasing slightly and stands at 20.4%, but has remained stagnant at the executive level.” [pullquote]The financial services industry is moving too slowly in recruiting and retaining women and minorities[/pullquote] This comes from Donna Milrod, chief administrative officer at the Depository Trust & Clearing […]

  • Ameriprise Focus on Baby Boomers

    Recently asked “What’s the most vital market force facing Ameriprise right now?” Pat O’Connell, Executive Vice President of Ameriprise, responded: “We’re at the trough of the baby boomers marching their way into their 60s. The demands of that generation—and they have changed so many different markets—are such that our industry has to move toward a […]