Some top-earning women advisors with Edward Jones (19 percent) said the wealth management industry has made no advancements in terms of equal gender opportunities in the last three to five years. Though they did offer a solution in a recent survey at the firm’s Third Annual Women’s Conference. More than half (52 percent) of female advisors polled said if the industry wanted to improve gender diversity, they’d believe promoting qualified women to executive leadership positions would be the best way to attract and retain female talent.
LifeYield, a cloud-based software company that helps advisors make tax- and risk-conscious decisions about client investment portfolios, will begin doing business directly with advisors, the company said Tuesday. It’s software was previously only available to enterprise clients, including Morgan Stanley and Franklin Templeton. To help scale the business, LifeYield also said it hired Steven Zuschin, who previously was the director of business development at HiddenLevers.
There are several phrases that the advisory industry has glommed onto in describing their services to prospective and existing clients that are particularly tired, argues advisor Sara Grillo in a blog post on AdvisorPerspectives.com. You’ve all heard them. Grillo lays out her issues with five common analogies, which include: “I’m the quarterback”; “family love letter”; “Bond prices go up when interest rates go down, and vice versa. Just like a seesaw”; “three buckets”; and “doctor-surgeon.” Her problem with the “doctor-surgeon” analogy in particular: “Most advisors don’t possess the skill level of a surgeon. They didn’t go to school for 10 years to learn how to pick stocks.”