TIAA-CREF is going on a hiring binge.
The company, known as a major provider of retirement plans to nonprofit institutions such as universities, plans to hire 200 financial advisers by the end of 2014, a 44% increase from the current amount, to meet growing demand for personal financial planning, Kathie Andrade, head of the Individual Advisory Services division, said in a statement.
TIAA-CREF, which manages $523 billion in assets, created its that division in 2005. Since 2012, the firm has increased its adviser head count by 75%, drawing from banks, independent firms and wirehouses, according to the firm.
TIAA-CREF Individual & Institutional Services LLC acts as both a registered investment adviser and a broker-dealer.