“We look for advisors who are high achievers in a field and have an entrepreneurial spirit. We believe that successful business experience is valuable for [advisors],” she said.
However, she noted Merrill’s wealth management segment is beginning its first internship program for 235 would-be financial advisors in June.
“We are committed to 50 percent [women and minorities] within this program. We view this as an opportunity to connect with a new generation of advisors,” said Atran.
Interns are also becoming more a part of Charles Schwab’s long-term recruiting strategy.
“We recently revamped our internship programs for summer 2014 to include more of the formal mentoring, leadership development, projects and peer interaction that interns desire. The goal is to bring on interns who have a long-term interest in a career in our industry and a desire to work for Schwab when they graduate,” said company spokeswoman Sarah Bulgatz.