The average age of financial advisers in the US is 51 years, according to advisory industry analyst and consultant Angie Herbers, with 38% of advisers expecting to retire in the next decade.
As such it is imperative that the financial advisory industry addresses the inevitable shift in firm leadership to younger, less experienced advisers, Herbers says. To help firms get ahead of this challenge, she is launching Beyond U, an educational platform providing advisers with seminars and study groups focused on strategies to stimulate business growth.
According to Herbers, Beyond U will provide advisers with the “most critical resources and knowledge required to promote growth within their firm.” Through online seminars, videos, tools and templates, the Beyond U platform helps address important industry issues like leadership continuity, corporate finance, operations efficiency, client services, human capital, management, sales and marketing. The goal of Beyond U, Herbers says, is to “provide young advisers with on demand, easily consumed digital training to expand and develop their firms in the modern marketplace.”
One of the modules in the platform connects advisers to the Beyond U Growth Study Groups. This program “brings access to some of the most prominent industry experts who inspire, enhance and guide advisory firm growth and careers.” Growth Study Groups meet over the phone for one-hour every two weeks and a minimum one year commitment is required. Each month an expert Beyond U “growth consultant” will conduct a training session relevant (via assessment) to the group.
Herbers says each group member will be held accountable for implementation of the growth training. Beyond this, each member of the group gets exclusive access to over 50 growth training programs and over 200 templates and tools.