Vice President, New Advisor Development, Raymond James
Want to know the secret of developing successful financial advisers? Ask Matt Ransom, 39, who has led the Raymond James training program for the past six years. In contrast to the historically disappointing track records of most brokerage firm training programs, the Advisory Mastery Program that Ransom and his team developed has a new-hire attrition rate of less than 40%, half the industry’s typical rate, while at the same time raising the level of diversity trainee hiring to nearly 50%.”We focus on the processes needed to build a sustainable business,” Ransom said.
Training at the home office, lots of short assignments to reinforce what’s learned there and customized coaching are key program features. Ransom, a 2003 graduate of the University of Florida, is a product of his company’s selective management training program, which exposes trainees to various firm departments. His work in regional management led to his current post, where he did research on the characteristics of successful advisers. “We found 25 — and sales experience does not directly correlate with success; curiosity and empathy did,” he said.
– Evan Cooper