As firms like Raymond James (RJF) endeavor to boost the ranks of women in the brokerage business, their executives and advisors say the Sallie Krawcheck story, despite her recent layoff from Bank of America-Merrill Lynch (BAC), remains a powerful one.
“She has played in the big league at several firms [BofA, Citibank-Smith Barney and Sanford Bernstein] and shows women that it can be done,” Raymond James COO Chet Helck said in an interview with AdvisorOne on Thursday, during the firm’s annual Women’s Symposium in St. Petersburg, Fla.
Firms like Raymond James are seeking to increase women advisors and executives at all levels,” Helck said. “They want to do that as a good idea for business. And with the limited number of women advisors and executives, the competition is intense.”
Raymond James says that about 14.6% of its 5,400 financial advisors are women. In the United States, it has about 585 practicing female advisors.
Helck adds, “Sallie Krawcheck will not have hard time finding another job. Just as when a woman advisor wants to change firms, the competition is tough.”
Her success, he says, “is that people know her as a household word.”