The cover story of the April issue of Research magazine takes an in-depth look at Merrill Lynch Wealth Management’s revamped training program. Wholesale revisions began in 2011, aimed at creating what Dwight Mathis, Merrill’s chief of new advisor strategy, calls “the Ivy League of financial advisor training.”
“Clearing Firms Gain a Human Touch,” a feature article in the issue, examines the clearing industry’s ongoing efforts to move beyond its traditional transaction focus. High on the agenda: helping advisors appeal to women clients and navigate social media.
In the latest “Finke on Finance” feature, Michael Finke examines “The Disclosure Paradox,” which is that too much information can be as harmful to retirement plan decisions as too little. Prof. Finke has some thoughts on what kind of information makes for the most helpful disclosures.
To preview this month’s cover story and feature articles, click through the following slides.
The April cover story by Ellen Uzelac examines an effort to remake advisor preparation, spearheaded by Dwight Mathis (pictured). Excerpt:
In a bold bid to boost performance, Merrill Lynch Wealth Management has re-engineered its iconic training program—adding a national curriculum, compensated mentors and even “breathing breaks.”
The move is likely to be watched closely by industry insiders. As the recruiter Rick Peterson, who heads Houston-based Rick Peterson & Associates, frames it: “I’m not sure any training program has been judged to be good, not when historically only two out of 13 trainees make it in this industry after five years. Any new approach is better than anything that’s been tried in the past. The fact of the matter is we desperately need new financial advisors.”
Jane Wollman Rusoff reports on the clearing industry’s latest moves to broaden its horizons. Excerpt: