|By PR Newswire||
|August 14, 2014 10:50 AM EDT||
ST. LOUIS, Aug. 14, 2014 /PRNewswire/ -- Financial services firm Edward Jones is partnering with Securities Training Corporation (STC), the nation's leading financial services training company, to help prepare students for a career as a financial advisor. The effort is intended to address an increasing industry concern – a shortage of financial advisors.
Beginning this fall, Kansas State University will offer a first-of-its-kind credit course that prepares students to take the Series 7 exam, the general securities licensing exam required by the Financial Industry Regulatory Authority (FINRA). All materials used by faculty, as well as training provided to these instructors, will be provided by STC with the $5,000 cost paid by Edward Jones. The financial services firm has committed to pay the cost of adding this course to the curricula of 10 universities that currently offer a financial planning sequence.
Maryville University in St. Louis was the first school to agree to incorporate the Series 7 course in its program and will offer the course beginning in the spring 2015 semester. In addition, Coastal Carolina University in Conway, SC, will begin offering the Series 7 course this fall but not with sponsorship by Edward Jones.
By giving students the opportunity to study for the Series 7 exam prior to graduation, the hope is that students will have a better understanding of what it takes to begin a career as a financial advisor, according to Edward Jones. Other universities are currently considering adding the course, according to Matt Doran, the Edward Jones principal responsible for the firm's Financial Advisor Career Development Program.
"Our goal is to create a more defined path for students with financial planning majors to a career as a financial advisor by helping them succeed in the required first step – passing the Series 7 exam," said Doran. "Having a Series 7 course means students are more likely to self-select and have more confidence in choosing to pursue a career as a financial advisor."
Data shows that more financial advisors are leaving the industry than those entering it. In fact, more than one-third of U.S. financial advisors plan to retire over the next decade according to a 2014 study by Cerulli Associates, a research firm focusing on the financial services industry. In order to keep up with demand from the burgeoning number of retiring Baby Boomers who will reach retirement age in the next decade, the industry will need to add more than 237,000 new professionals1.
Yet, according to a 2014 report from the Bureau of Labor Statistics, the growth rate for financial advisors in the next decade is only expected at 27 percent, resulting in a net increase of only 60,300 new financial advisors2.
The shrinking corps of financial advisors comes at a time when the number of people at or nearing retirement continues to expand rapidly. In fact, by the year 2030, more than 20 percent of Americans are projected to be aged 65 and over, in comparison to 13 percent in 2010 and only 9.8 percent in 19703.
Paul Weisman, CEO of STC, said the seed of the idea was actually planted seven years ago at Bryant University in Smithfield, R.I. A three-credit Series 7 course was added to the curriculum in 2007 but the concept never expanded elsewhere.
"Edward Jones' sponsorship makes it easy for universities to add a very practical course to their curricula," Weisman said. "Our hope is that as more universities sign up for this program, more students will be exposed to the material and choose to become financial advisors, a desperate need in the industry."
About Edward Jones
Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm's 13,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.
Edward Jones, which ranked No. 4 on FORTUNE magazine's "100 Best Companies to Work For 2014," is headquartered in St. Louis. The Edward Jones Web site is located at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com. Member SIPC.
About Securities Training Corporation
Founded on Wall Street in 1969, Securities Training Corporation has successfully helped over 1,000,000 candidates pass FINRA regulatory exams and launch their careers. STC has grown to become the leading provider of financial examination training, offering FINRA , firm element, regulatory element, and introducing their most recent Life, Health and Accident Pre-licensing courses. STC is focused on the commitment to providing a wide range of superior products and updated training material to their clients to help any candidate reach their goals.
STC's corporate headquarters is located in the financial district of New York City, and maintains branch offices in Chicago, San Francisco and Boston.
1 The Cerulli Edge - Advisor Edition, 1Q 2014 Issue
2 Bureau of Labor Statistics, Personal Financial Advisors Job Outlook, January 8, 2014
3 U.S. Census Bureau, The Baby Boom Cohort in the United States: 2012 to 2060, May 2014
SOURCE Edward Jones
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
Jul. 5, 2015 12:00 PM EDT Reads: 1,489
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud envir...
Jul. 5, 2015 11:45 AM EDT Reads: 2,372
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. Th...
Jul. 5, 2015 11:30 AM EDT Reads: 1,372
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 5, 2015 11:30 AM EDT Reads: 1,534
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Jul. 5, 2015 11:30 AM EDT Reads: 1,246
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 5, 2015 11:15 AM EDT Reads: 1,096
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
Jul. 5, 2015 11:00 AM EDT Reads: 1,412
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
Jul. 5, 2015 11:00 AM EDT Reads: 1,518
SYS-CON Events announced today that Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Alert Logic provides Security-as-a-Service for on-premises, cloud, and hybrid IT infrastructures, delivering deep security insight and continuous protection for cust...
Jul. 5, 2015 11:00 AM EDT Reads: 2,078
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Jul. 5, 2015 10:45 AM EDT Reads: 1,411
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 5, 2015 10:45 AM EDT Reads: 1,219
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 5, 2015 10:45 AM EDT Reads: 2,295
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Jul. 5, 2015 10:15 AM EDT Reads: 1,239
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jul. 5, 2015 10:00 AM EDT Reads: 2,779
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 5, 2015 10:00 AM EDT Reads: 1,215