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Web-posted Wednesday, February 11, 2004
Gaining Ground By CHERYL BERZANSKIS
cheryl.berzanskis@amarillo.com Kyle Vest could have won "Survivor." He entered the financial services business as an Edward Jones representative 312 years ago, just before markets tumbled and the economy screeched to a halt. Investment representatives - albeit far fewer of them - survived the post-Sept. 11, 2001, slump and lived to see the economy perk up and the Dow Jones Industrial Average, the NASDAQ and other indices rise instead of fall. Now others are angling to join the survivors in the business. "Last year, we (Edward Jones) had about 120,000 inquiries, and we hired about 1,200," Vest said. The financial services business offers open houses for prospective brokers where they can see a recruiting broadcast. "We want to give people a sense of the culture of Edward Jones," Vest said. "We want to give people the right expectations - what kind of work it entails." Job seekers in the financial services industry see an improved employment market, said Jeff Testerman, vice president of brokerhunter.com. The Web site has just over 45,000 registered job seekers, Testerman said. "We have just started to see more," Testerman said. "Post 9/11, the industry was hit hard." The securities industry employment market declined for most of 2003, and probably hit bottom in August 2003, he said. Testerman estimated from September through December, the industry added 17,000 new jobs. Brokers and sales people have always been in demand, but in the last several months, firms are starting to rehire salaried positions such as sales associates and back office positions, Testerman said. Dale Buckner of Asset Planning Group wants to hire only the cream of the crop. "We still have openings that we'd like to talk to people (about). The industry lost 30 to 40 percent of its work force since the recession started through 9/11. All of us are wanting to add quality people to the work force and we're not seeing enough of them apply," Buckner said. If he could get one stellar applicant a month, he'd be thrilled. As it is he gets one every six months. Six people at Asset Planning Group retired during the downturn. "I'm in kind of a unique business where people who were formerly very qualified found the environment wasn't conducive and just quit. "I have all these accounts and would just love to have a qualified person on them," Buckner said. He listed qualifications: experience, quick licensing, no criminal history. "And because of the nature of the business, we want someone with their own finances in order," Buckner said. Stephanie Hrycyk, a financial planner at Hrycyk Financial, said she gets calls from job seekers about twice a year. "I'm as big as I can be at this time," she said. "With all the bad rap they (financial industry workers) have been getting, they (potential employees) probably want to go as far as way as they can," she said. |
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