We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • How mid-career women could reshape the advisory industry

    May 30, 2017 by Tobias Salinger

    Five top firms will launch tailored internships this fall under a CFP Board pilot program aimed at hiring former professionals from the financial services and other fields.

    It’s the latest effort to improve what can only be called dismal statistics.

    The proportion of women CFPs has remained stagnant at 23% for a decade and only 16% of advisers are women, notes Marilyn Mohrman-Gillis, executive director of the CFP Board’s Center for Financial Planning.

    “Firms essentially rob from each other and were not expanding the pool,” Mohrman-Gillis says. “We’re not going to expand that number if we just keep shifting mid-level women around from one firm to another and another.”

    The CFP Board and re-entry firm iRelaunch, which has led similar programs at large investment firms and in the science and technology space, unveiled the partnership earlier this month. While open to prospective advisers of any gender, the paid program marks a new approach to boosting diversity.

    Organizers hope to give firms another means of hiring women besides poaching, Mohrman-Gillis says.

    MOMS TO THE RESCUE
    Participating firms include Edelman Financial Services, United Capital, Fairport Asset Management, Yeske Buie and Fidelity Investments. TD Ameritrade Institutional will sponsor the group at Edelman and United, while the Schwab Foundation will sponsor Fairport and Yeske Buie’s classes.

    Women who quit their jobs to raise children make great candidates for so-called re-entry internships, according to Carol Fishman Cohen, CEO of iRelaunch. She cites Bureau of Labor Statistics figures showing 2.6 million mothers nationwide between 25 and 54 years old with bachelor’s degrees or higher but no job.

    “There’s a specific scenario of female professionals that have outstanding education and talent, and they intentionally decided to quit working to become moms,” says Tim Kober, principal of Cedar Financial Advisors in Beaverton, Oregon, and chairman of NAPFA’s national board of directors.

    “Personal financial planning is a great opportunity for that specific scenario. I think they’re bringing a lot to the table.”

    About 2.2 million of the educated, working-age mothers would be interested in returning to work, and men and women who have taken career breaks for other reasons make the pool even larger, according to iRelaunch’s research. The former professionals boast skills applicable to any industry, Cohen says.

    Career re-entry program stats
     

    EXPERIENCE COUNTS
    Out of 5,400 prospective mid-career recruits to all fields who have attended conferences run by iRelaunch since 2008, roughly 70% have graduate degrees and about 70% worked full-time for at least 10 years prior to their career breaks.

    “They have great work experience and a more mature perspective. They are not trying to find themselves at their employers’ expense. They are at a stable life stage,” Cohen says.

    “One of the greatest attributes is that they bring an energy and enthusiasm to the workplace because they have been away for so long.”

    Goldman Sachs, J.P. Morgan, Morgan Stanley and MetLife have all launched “returnship” programs, and Cohen worked with the Society of Women Engineers to start the STEM Re-entry Task Force in 2015. Firms retain more than half of the interns full-time in both financial services and tech, Cohen says.

    DON’T NEED TO BE ‘FINANCE JOCKS’
    The advisory program will cull from among former pros of related fields, teachers and a range of other prior careers. Organizers picked large and small RIAs, custodians and a retail brokerage for the pilot, allowing each firm to decide the size, term and scope of their first group of interns, Cohen says.

    “We’re really excited about that because we want the experiences to reflect the full range of opportunities that are available in the financial planning sector,” she says. “One of the messages is that you don’t have to be a finance jock to be successful in this field.”

    Indeed, many advisers migrated to their practices from other industries. Kober and his business partner, Peggy Kessinger both worked at Intel for more than 15 years before they started the RIA. Hiring mid-career shifters could help the industry add more diversity to both staffs and clientele, Kober says.

    “You end up attracting clients that are like you, which I’ve found to be true,” he says. “When you have your own history, life experience, and perspective, it adds to the discussion.”

    Originally Posted at Financial Planning on May 30, 2017 by Tobias Salinger.

    Categories: Industry Articles
    currency