The financial advisory industry is currently facing a significant challenge. The average age of advisors is increasing, and there is a pressing need for new talent. Many advisors struggle with building a team and transitioning their businesses to the next generation.
In this episode David Grau Jr. interviews Jon Randall, an advisor and consultant, about the importance of finding, training, and compensating next generation advisors in the financial advisory industry. They discuss the challenges of building a team and transitioning businesses to the next generation, emphasizing the need for training programs focused on the business owner aspect. They also explore the benefits of hiring and training raw talent, as well as the importance of incentives and clear career paths in retaining talent.
David and Jon discuss:
- Benefits of homegrown talent and training individuals in-house
- Strategies for finding and attracting talent, including networking events and internships
- The importance of offering competitive salaries and incentives to attract and retain talent
- The need for a clear career path and advancement opportunities within a firm
- Training and developing junior advisors, including specialization and working in teams
- The challenge of founders letting go and allowing junior advisors to take the lead
- And more!
Resources:
Connect with David Grau Jr.:
About our Guest:
XFA.COACH – eXtraordinary Financial Advisors is a distinctive coaching and consulting firm committed to providing financial advisors a specialized and proven approach to eXtraordinary growth and profitability.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
What Are We Even Doing? with Kyle MacLachlan
Join award-winning actor and social media madman Kyle MacLachlan on “What Are We Even Doing,” where he sits down with Millennial and Gen Z actors, musicians, artists, and content creators to share stories about the entertainment industry past, present, and future. Kyle and his guests will talk shop, compare notes on life, and generally be weird together. In a good way. Their conversations will resonate with listeners of any age whose interests lie in television & film, music, art, or pop culture.