What types of firms are experiencing the biggest recruiting boom?

  • Published: November 15, 2013
  • Runtime: 2:00
IMCA executive director and CEO Sean Walters identifies the types of firms that are expanding their adviser numbers the most, and details the changes IMCA has made to their curriculum to cater to the new generation of advisers.

Exclusive coverage of Charles Schwab's IMPACT 2013 conference from November 10-13 in Washington, D.C.

IMCA has added a new CIMA certification, Registered Education Provider, Carnegie Mellon University, our top 20 school. It adds to our current list of registered programs, University of Chicago Booth School, and then-- and they've been a program provider for about two years, and then Wharton has taught the program since its inception in 1988. So with these three schools, we have one prestigious certification and three top 25 business schools delivering the education for that. IMCA really sets the requirements to earn the CIMA certification and those ultimately don't change from candidate to candidate. However, we did conduct job analysis last year and updated the whole curriculum and the exams that are delivered based on that job analysis. So younger advisers that are delivering services today, what they need to know in order to do that at an advanced competency level, we've updated our exams to meet that-- to meet that practitioner, that new practitioner. The first half of the year, the number one candidate who we have seen growth in is independent RIA advisers, and those aren't necessarily principles, although some of the principles have come to the CIMA, it's junior advisers and team members who really want to enhance that team's skill set. We've really done some research last year with IT group about team-based practices, and when a younger professional joins a team, I would encourage them to bring some knowledge or skill set that the team doesn't already possess. So, in the case of CIMA certification, investment advice and investment consulting expertise, if they can apply to a 401(k) plan, an institutional client like in a domineer foundation or just retail and high net worth clients, just bringing that investment advisory expertise, that younger adviser can really add skill set to the independent firm that will help move their objectives forward.

Recent Events

InvestmentNews Video Channels