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Industry Spotlight > Women in Wealth

RBC Wealth Management Aims to Build Diverse Advisor Force

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RBC Wealth Management is making a dedicated effort to bring more diversity into the firm and the industry overall.

The firm announced that it revamped its Associate Financial Advisor training program to encourage more diverse candidates — from inside and outside of the financial services industry — to join the firm and ultimately pursue careers as financial advisors. According to RBC, the goal is more diversity overall — including women, minorities and various ages.

As part of this revamping, RBC hired a dedicated recruiter to focus on bringing more early-career and second-career candidates to the firm.

Maggie Russett will serve as the dedicated recruiter for the Associate Financial Advisor program, identifying and vetting prospects — whether they be recent college graduates or people who have worked in other industries and are seeking second careers. Russett joins RBC Wealth Management from Patterson Cos., where she supported the corporate office in developing recruiting processes and identifying and evaluating new employees.

“In an industry where a large percentage of the current workforce is expected to retire within the next 10 years, attracting new talent to the business is critical to future growth,” Tom Sagissor, president of RBC Wealth Management-U.S, said in a statement.

The enhanced Associate Financial Advisor program is designed to prepare new advisors for the role, which includes training, mentoring and supporting them in their careers with a variety of resources.

The training program includes more than 20 online courses on products, processes and tools; more than 50 micro-learning videos on relationship-building skills; a one-on-one training coach; and a formal one-on-one mentorship program.

The program also includes an intensive, week-long workshop focused on enhancing relationships, building resources and applying concepts learned. Other program features include video role-playing scenarios to help participants develop confidence and expertise, and an ongoing call series enabling participants to learn from industry experts and peers.

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