Education a Challenge for Independent Dealers

SUI is proud to be a regular sponsor and speaker of the Small Dealer's Symposium, and a recurring theme that exists at this necessary event is the challenge that is present to the independent dealer during this interesting time in the marketplace.  One of these ongoing challenges is how to effectively train and educate staff in a firm where body count is precious. There is a constant struggle between the need to increase the knowledge of staff while weighing the cost of absence from their tasks.

One comment that initiated this particular discussion?       
"We don't hire many young persons anymore as we don't have the time to invest in bringing them along."  

A sad statement wouldn't you agree? 

More and more firms are facing staff defections and an aging personnel, as this sentiment increases across the industry.  

While this may seem manageable at this time, it cannot sustain itself. As with front office personnel, the need to have young and committed employees is necessary to the growth and sustainability of our firms. It is the driving force to ensure continued success, and yet, we are willing to simply wait it out and hope that the aging personnel already in place will be there on an ongoing basis. 

Sadly, it can't. The demographics are evident. The backoffice staff is increasing in age, while the recruits are being 'scooped' (as it were) from other firms. Also, young recruits are more interested in ancilliary rewards than mere $, as was once the case, so what appeals to new recruit is much different.

Gord Medland, Chairman of Leede Financial Markets Inc., a retail brokerage firm in Vancouver says, "It's costly, but it's worth it. We've decided to grow our talent both in the front and back offices. We expect returns on all of our investments. Well...I consider my staff an investment, and an expensive one at that; so I expect the maximum value. That's why we think education is paramount to giving us an edge. And in today's market, an edge can make all the difference."

At SUI we believe in providing you with an edge. We're working at present with regulators and various trade associations in the industry to provide easier ways to avail yourselves of excellent courses for your staff without the heavy burden of staff absence. We're creating a new way to attend courses that both stimulates and educates but also provides flexibility in attendance.  This new initiative will be available in 2012.

SUI is committed to serving the needs of the growing financial professional.  It make absolute good sense. Why? In a nutshell:  we grow financial industry brains...and we're excellent at providing value and benefit to the firms that send their staff to us.

We look forward to serving your education needs. Check our class schedule for upcoming courses, both instructor led and online.

Related Courses