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We are excited to share a collection of relevant, timely, and insightful articles that can help you grow and strengthen your business. TD Ameritrade and leading industry experts will be contributing their unique perspectives on the challenges and opportunities that RIAs are facing today. Thank you for joining our community and we look forward to connecting with you!

  • by Kate Healy
  • Managing Director, Generation Next, TD Ameritrade Institutional

AdvoKate: Building Our Talent Pipeline, Together

When it comes to nourishing the future of the RIA industry, TD Ameritrade Institutional’s own Kate Healy is a woman on a mission. Determined to reach back and lift others up, she’s a constant presence at industry conferences and events — leading the charge to educate and encourage current and future advisors. She has so much knowledge and inspiration to share, we’re pleased to introduce her new blog series “AdvoKate.” Here Kate will keep you up to date on what we’re doing to nurture and sustain RIAs with a focus on diversity and NextGen talent.

Martha Tullis (RIA NextGen Scholarship Winner) and Kate Healy

Martha Tullis and Kate Healy

Demand for financial planners is growing—that’s great news. The challenge is that there’s not enough talent out there to fill the void. I think, however, that if we work together, we can build a great talent pipeline.

Consider that nearly 20% of current financial planners are near retirement. And, the Bureau of Labor Statistics estimates that demand for the career will increase 30% by 2024. In fact, the Bureau projects that job growth for financial advisors will be four times higher than other occupations.*

And when I attend conferences and events, I can see that industry sustainability is top of mind for many of us. For example, after a great panel discussion on custodial leadership at the Barron’s Top Independent Advisors Summit, three of the four audience questions were about the future of the profession (I promise I did not plant them)! And, I’ve noticed that the conversation is slowly shifting from advisors asking “what are you going to do about this?” to “what can we all do, together?”

This is why I’m so focused on securing our industry and developing NextGen talent. Of course, I am just one voice. TD Ameritrade Institutional and our business partners offer many ways you can help attract students and professionals to financial planning. And here are just a few:

I am a CFP® Pro

The Center for Financial Planning recently launched “I am a CFP®Pro.” This powerful campaign shows the personal side of financial advisors, offering a peek into their lives and careers. It aims to appeal to millennials, women, and diverse prospective advisors.

You’ve heard me say, “you can’t be what you don’t see.” Well, there is so much to see here. The launch features three advisors with compelling stories. While each is different, there are consistent themes. They all mention:

• The importance of the mentor/mentee relationship
• The power of trust in their work with clients
• And, how meaningful the ability to be philanthropic is in their lives.

And one video features my friend, Rianka Dorsainvil, Founder and President of Your Greatest Contribution (YGC). Rianka is a frequent panelist at industry events and I always look forward to hearing from her. She’s a great, authentic representative for financial planning who says “it’s a privilege to be in the homes and lives of my clients.”

Your move: Become a CFP® Pro. And if you already are one, share your story using #CFPPro. Help increase visibility of the diverse people and businesses out there. Visit here to learn more.

Getting Higher Ed on Board: Next Gen Grants….

For the fifth year, TD Ameritrade Institutional will award two grants to universities demonstrating a commitment to educating the industry’s future financial professionals:

• One $50,000 grant to a university with an established program
• One $25,000 grant to a university with an emerging program

To help potential applicants, we recently hosted a “Best Practices in Grant Writing” webcast where I provided some of the history and rationale behind the grants. We also heard from previous grant winners from the University of North Texas and Texas A&M. They updated us—and impressed me—with how the grants have helped shape and strengthen their programs.

The webcast also featured Dr. Christy Marrs, Project Manager from Vanguard General Services. Dr. Marrs shared steps that you can take to increase your chances of success with any grant application. Listen to the replay.

Your move: Help spread the word and let university financial planning program directors know about this great opportunity. Yes, I know you’re thinking, “Kate, we don’t all have a friend who is the Dean of a Business School.” Fair enough. But let’s get creative! Think about your contacts and client base. Anyone in higher education? What about your own Alma Mater? Be proactive and call them. Contact your school’s Business/Economics/Financial Planning Department and share this information. Maybe offer an internship opportunity at your firm. Or become a mentor. It’s the best way to create a talent pipeline for your firm as well. Who knows where these conversations could lead? If we plant many seeds and grow one tree, that’s success.

… and Scholarships

The TD Ameritrade Institutional NextGen Scholarship will award twelve $5,000 Scholarships to deserving and talented students who plan to pursue a career in financial planning (two scholarships are reserved for under-represented groups in our profession). Previous scholarship winners have gone on to make us proud. They are invited to join us at National LINC and will be able to spend time with us for exciting events in New York City this summer.

Your move: Think about your clients with children in college and share this scholarship information with them. Not only will it show that you really care and are thinking of them, free money makes good financial sense. Also, please use your social media to help spread the word.

The Scholarship and Grant application window is open until May 31, 2017.

Human Finance Project

TD Ameritrade Insitutional’s own Human Finance project is still going strong. We have a deep library of inspiring advisor stories to help people better understand the work you do for you clients. And we recently created a NextGen edition that helps explain what an RIA is and shares stories from younger advisors.

Your move: Share www.HumanFinance.com/NextGen to spread the word. It’s a great recruiting tool for financial planning programs, and your own firm.

It’s go time

Above are four great ideas for helping raise the profile of financial planning in your community. But we can’t do this alone. We’re all in this together. So, if you love your career, and enjoy making a meaningful difference in the lives of your clients, join me and be heard.

I look forward to seeing more tweets from you! Please keep in touch as I continue to “AdvoKate” for you. Follow me on Twitter: @KateHealy_TDA.

* U.S. Bureau of Labor Statistics, Employment Projections program


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