Business Transformation | 01.31.23
Driving the Industry Forward in 2023: Jeff Hartney
by: Jeff Hartney
As 2023 begins, many of 2022’s challenges remain. New regulations, mergers and acquisitions, and difficulties with recruitment and retention continue to be prevalent. Last year, I regularly saw BISA members share knowledge, advice and strategies for tackling these challenges and transitions. Even the fiercest competitors supported each other as fellow BISA members.
BISA believes that collaboration drives the industry forward, and I’m excited to journey together toward solutions this year. Here’s what we are emphasizing in 2023:
Recruitment and Retention
To support our members’ efforts in the recruitment and retention of financial advisors, late last year, BISA commissioned Cerulli to conduct a survey of financial advisors to learn their preferences and what they believe needs to happen in order to continue working at financial institutions.
BISA’s Research Committee is full of top-notch industry professionals who work hard to develop research that will add value to members’ work. The committee will be presenting preliminary research findings at the Annual Convention, with the full release planned for later this spring.
Wealth Management
BISA’s membership is vibrant, but as our industry changes, we must adapt to bring in new perspectives and create added value for our members. One shift the Board recognized in 2022 is the increasing collaboration between brokerage and wealth management with many institutions deciding to integrate these two businesses to provide a better, more seamless client experience. BISA leaders have developed a strategy to engage and provide value to wealth professionals, with the goal of expanding BISA's reach into this area. I look forward to welcoming many in wealth management for the first time to this year’s convention!
DE&I
BISA is continuing our efforts to learn and grow in the critical area that is DE&I. Our DE&I Rising Star Awardees continue to lend their unique voices to BISA, contributing to numerous content pieces in 2022 — and I know I look forward to hearing from them again this year (including our new awardees who will be acknowledged at the convention).
Another committee contributing to the diverse voices leading BISA are our Future Leaders. All Future Leaders were once DE&I Rising Stars, and now their committee is playing a critical role in furthering BISA’s mission.
Many in BISA’s membership have impressive tenures, so we are looking to our Future Leaders to bring in new voices who will energize BISA, offer valuable perspectives and ensure we engage members of all backgrounds.
Next month’s convention will bring essential time for networking, growth and fun, too. I look forward to hearing your thoughts when I see you there.