Wealth management firms invest a lot of time, money, and resources into recruiting, training, and developing new financial advisors. Yet, despite their best efforts it is estimated that only 15% of new financial advisors make it to year five. The high attrition rate comes with an enormous cost to firms and the advisors themselves. What if we could increase the success rate for new financial advisors?
As I mentioned in the preview video above, you can watch the entire episode of the podcast on YouTube as well. The video is embedded below for your convenience. Make sure you subscribe to the Truelytics YouTube channel!
Resources Related to this Episode: Helping new financial advisors reach escape velocity quickly is one of the most important things we can do as an industry. With nearly 40% of existing advisors set to exit the business in the next decade, we can't afford to lose promising advisors just because it takes too long for them to achieve a base level of success. Below are a few additional resources that might be helpful in jumpstarting this effort: