JERSEY CITY, N.J., February 15, 2011 — Pershing LLC, a BNY Mellon company, announced today the availability of an independent study, The Race For Top Talent II, that expands on the findings in the inaugural, The Race For Top Talent report published in 2007. The study reveals that many of the talent issues uncovered three years ago remain unsolved and offers new insights into overcoming the critical human capital challenges facing broker-dealers.
The Race For Top Talent II, an important component of TalentConnectSM, an innovative Pershing program designed to help financial organizations attract, retain and develop top talent, was developed in conjunction with FA Insight. Featuring analyses to help broker-dealers identify key trends and grow revenue, the study offers solutions for the aging workforce, mounting recruiting and marketing costs, rising turnover and developing the next generation of investment professionals.
Key findings from the study include:
"With many investment professionals moving toward retirement or more independent business models, a broker-dealer's growth will increasingly be tied to its ability to successfully attract, develop and retain top talent," said Jim Roth, managing director of Pershing. "In working with our independent broker-dealer customers, we emphasize the importance of creating compelling differentiators that attract and retain investment professionals, which will help provide firms with a clear competitive advantage in the years ahead."
Dan Inveen, Director of Research at FA Insight added, "The market for talented investment professionals is poised to become even more competitive as demand exceeds supply. To succeed in this environment, most firms will need to change the way they manage their human capital assets."
TalentConnect is a component of Pershing's Ideas Without Limits(SM) practice management program for broker-dealers and registered investment advisors. TalentConnect offers valuable research, insights into trends shaping the recruiting market, workshops led by industry-leading consultants and a wide range of tools for attracting, retaining and developing top performers including, guidebooks, podcasts, white papers and marketing support.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. Located in 21 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.