The new training program, Advisor Mastery Program or AMP was launched in October by Raymond James with 35 participants and based in the California, Colorado, Florida, Indiana, Michigan and Texas branches.
With a goal to attract more women, the class boasts 35% female enrollment which is a high standard within the industry.
To participate in the two year program trainees must have five years work experience and a college degree, pass the Series 7 exam and undergo “stringent” sales and technical training both on the job and in weekly classes.
The trainees work with a mentor and the salary of the trainees’ pay was extended from five to seven years. Thus, the pressure to meet certain numbers immediately is removed, and the focus is on developing and managing relationships as financial advisors. (And yes, admittedly, women are better at building relationships than men are!)
Plans for a second trainee class are targeted for May.