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Six Strategies to Help Re-evaluate Your Talent Strategy

Six Strategies to Help Re-evaluate Your Talent Strategy

As we settle into the new year, wealth management firms grapple with the task of refining their talent strategies, given an aging workforce and advisor shortage. Our director, Carina Diamond, CFP®, AIF®, and CEO and Founder of Stella Secunda, recently shed light on this talent challenge in her op-ed for’s 2024 Market Outlook.

In this piece, Carina highlights the importance of having the right people in the right positions for sustained firm growth, and outlines six strategies for ensuring that your business continues to grow beyond and flourish in 2024 and beyond.

  1. Presence with a Purpose. Drawing inspiration from Chris Perry of Broadridge Financial Solutions, Carina underscores the need for a balanced hybrid work model and dynamic company culture.
  2. Prioritizing Diversity. Based on the McKinsey’s “Diversity Wins” report, emphasizing a diverse talent pool enhances decision-making and leadership, granting firms a distinct competitive advantage.
  3. Fostering Educational Partnerships. By forging connections with academic institutions, firms can ensure a consistent flow of emerging talent, leveraging avenues such as scholarships, job fairs, and mentorships.
  4. Reevaluating Retention Tactics. Given the younger generation’s emphasis on meaningful work, aligning firm values becomes essential for talent retention and resonating with community-focused clients.
  5. Implementing Mentorship Programs. Mentorship emerges as a cornerstone for employee growth and satisfaction, guiding individuals through their professional journey.
  6. Embracing Adaptability. Amidst an ever-changing landscape, firms’ agility stands as a crucial determinant of their continued relevance.

Diversitas works to dispel misconceptions about working in financial planning, especially among high school students. She emphasizes that many remain unaware of the diverse opportunities within the industry, often overshadowed by stereotypical views. As we embrace this new year, firms must prioritize these strategies to effectively steer through evolving challenges. To read the full article, click here.

For a deeper exploration of these insights and strategies, register for the Diversitas Symposium on February 8th, from 11:30 AM to 3:30 PM ET, virtually at The University of Akron’s Student Union Ballroom. Whether attending virtually or in person, we will come together to celebrate diversity of talent and opportunities in the dynamic world of wealth management. Beyond just networking, this free Symposium delves deep into the intricate facets of the industry. Secure your free spot by registering here!