Latest news with #HalbertHargrove
Forbes
06-08-2025
- Business
- Forbes
Make Mental, Physical And Financial Wellness Part Of Work Culture
JC Abusaid is the CEO and President of Halbert Hargrove, a wealth advisory firm headquartered in Long Beach, California. August marks National Wellness Month, making it the perfect opportunity to highlight something we take very seriously at my company: the wellbeing of our employees. I view wellness as more than just physical health; it's about taking care of yourself in ways that are often overlooked—getting enough sleep, maintaining your mental health and getting enough exercise. When leaders foster a culture that encourages these habits, employees can be more present, productive and effective. In fact, 91% of workers whose employers provide access to mental health support report job satisfaction, compared to 76% without it. That kind of impact is why wellness can't be treated as an afterthought; it should be a core part of how you support your team. Bringing Wellness To The Forefront Wellness has always been an integral part of our firm's culture, but the pandemic shined a light on it. It helped normalize conversations about self-care and demonstrated the importance of a people-first culture. It also reshaped how society talks about work-life balance. Earlier this year, I attended a conference and heard an industry colleague say that instead of work-life balance, we should think in terms of work-life harmony—the idea that personal and professional responsibilities don't need to compete, but can support each other. That perspective has stuck with me, and it's shaped how I view wellness, not just as an idea, but as something that creates real, lasting impact. That's why we've built a year-long wellness program. Each month, it features a new theme that focuses on at least one of the three core areas of well-being: mental, physical and financial. From tracking water intake to practicing mindfulness, we encourage employees to adopt small, actionable habits that support a healthier routine. Participating employees log their daily activities in a spreadsheet and, to keep things fun, we reward monthly winners with a gift card. I actively participate in the program because I believe that when leaders show genuine enthusiasm, others will follow suit. I know that with these challenges, not everyone will participate the same way, and that's OK. What matters most is creating a space for people to engage in ways that work for them, at their own pace. The key is meeting people where they are and consistently encouraging healthier, more balanced lifestyles. In recent years, remote work has added new layers to the wellness conversation. While flexibility has its benefits, it can make burnout harder to spot. But challenges exist everywhere, so it's essential to check in regularly, have honest conversations and truly listen. With intention and consistency, wellness can be effectively integrated into any work environment. Mental Wellness I believe that mental health should be a part of the conversation from day one. I encourage leaders to build mental health benefits directly into their healthcare package. Encourage employees to prioritize their emotional well-being, whether that means taking time outdoors, practicing meditation or making space for activities outside of work. It's also critical that leaders recognize that rest isn't a luxury—it's a necessity. We've implemented unlimited vacation days and 'skeleton days,' where employees are actively encouraged (and often required) to take time off. We also offer sabbaticals: After 10 years of service, employees are eligible for up to $2,500 in travel reimbursement for two consecutive weeks off. After 20 years, the increase is $5,000 for three weeks. These initiatives reinforce a structure for rest and renewal. Physical Wellness A public health report confirmed what many of us already knew: Healthy employees are more productive compared to those with less optimal habits. That's why it's important to support physical activity in big and small ways. Supporting physical wellness at work doesn't require unrealistic changes; small, consistent efforts can make a real impact. It might look like offering ergonomic workstations, encouraging regular movement breaks or providing access to resources that promote healthy lifestyles. At our firm, we provide healthy snacks and have introduced the idea of inviting personal trainers and nutrition experts to speak with the team. Physical wellness is also a key focus of our monthly wellness challenges, which often include goals related to step counts, hydration, heart health and general fitness. I've heard of other firms offering reimbursements for gym memberships or an on-staff masseuse. These are all excellent benefits that encourage physical well-being. Financial Wellness Financial stress is one of the most overlooked barriers to well-being, but it should be taken just as seriously. Interestingly, 59% of employees cite financial well-being as their top concern, despite only 22% of employers focusing on it. This gap highlights a major opportunity: Even at a wealth management firm like ours, not every employee is a financial expert. That's why we make education and support a priority. One way we support financial wellness is by asking our team what topics they would like to learn about and then hosting sessions on those subjects. We also encourage our advisors to hold office hours for colleagues in areas where they have expertise. For example, I've offered one-on-one guidance around real estate planning, and our chief information officer provides educational sessions on investing and the markets. Leaders should encourage their employees to extend the same level of care to their team and co-workers as they would to their clients. In closing, wellness isn't one-size-fits-all. It takes creativity, consistency and commitment to support each employee in the way they need. For leaders, the key is staying responsive to evolving needs and making well-being a crucial part of how the organization operates, because building a culture of trust and care happens through small, intentional actions over time. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Yahoo
24-06-2025
- Business
- Yahoo
The Role of Internships in Filling the Advisor Pipeline
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Registered investment advisor Halbert Hargrove has strived to build its firm on a unique business model in an industry known for aggressive recruiting and poaching: training and hiring interns. Kelli Kiemle, managing director of growth and client experience at Halbert Hargrove, said the Long Beach, Calif.-based RIA often has five to six college interns at the firm at any given time. It also has a dedicated intern manager who runs the program, recruits interns and meets with them weekly. 'We actually have 10-plus employees at this point that have come from our intern program,' she said. 'All of them are at different stages of their career, with some people who are just recently graduated, and I have a couple of interns who have been with us for 10-plus years and are at higher-level positions in the firm.' Halbert Hargrove is among what industry watchers say is a relatively small group of RIAs with dedicated internship programs. These types of programs are rare, but much needed, said Jimmy Zhao, a partner in McKinsey's Boston office and lead author of a much-quoted report forecasting a shortage of 100,000 financial advisors by 2034. 'An internship program can be an effective way to help bridge that gap and bring talent into the industry,' Zhao said. 'It is also a way to differentiate your firm at this stage.' Despite what should be the attractiveness of wealth management, Zhao said there 'seems to be a reality-perception gap' for students when considering career options. Several colleges and universities, as well as financial planning programs such as the CFP, are trying to change that. For example, Utah Valley University in Orem, Utah, consistently ranks as one of the country's best financial planning programs. Founded in 2011, it now has more than 300 enrollees a year. 'Many of our students come from blue-collar backgrounds and work part-time or full-time while in school,' said program director Scott Stratton. 'Their drive to succeed in a demanding academic and professional environment is a big part of what sets our program apart.' Stratton added the school maintains relationships with dozens of local and national wealth management firms, which helps source internship and full-time employment opportunities. 'Our students are often embedded within firms while still completing their degrees, gaining practical experience and building long-term career paths,' he said. 'The feedback from firms has been overwhelmingly positive, often noting how prepared and professional our students are from day one.' New York-based Modera Wealth has been actively recruiting on college campuses to find talent and get first-person feedback from the younger generation, according to Laurie Vitali, the firm's chief people officer. This summer, five students are completing 10-week internships with the firm, an initiative it has had in place for about seven years. Vitali said an essential part of establishing a strong program is first assessing the local offices' needs. 'One of the most important things is making sure that the offices that you're recruiting for have a need for an intern, and that you define the program, so when the intern comes in, it's both a benefit to the office and to the intern,' she said. 'We want them to really get some hands-on experience and some meaningful work over those 10 weeks.' Vitali said the RIA message of being a trusted fiduciary to a client will resonate with the next generation, and the more they understand it, the more they'll be drawn to the space. 'I feel like today's generation wants to hear authenticity in the organizations they join,' she said. 'That's what makes an internship program so valuable. They're immersed in it and can see what the culture is about. They can see the differentiator in what and how an RIA operates versus an advisory that's selling products as well.' Modera had early success with its internship when it was a smaller firm in 2008. Kelly Henning, now a principal with the firm, started in the program, not knowing much about wealth management. Henning took a role in client services and then steadily climbed the ranks, becoming a financial advisor and eventually joining the firm's leadership team. That was a far cry from when she started. 'Prior to my internship, my only real knowledge of investing was what I had heard about Wall Street,' Henning said. 'I wasn't really aware of what comprehensive wealth management was.' Henning's internship took place during the Great Financial Crisis, which she said was impactful because it showed her how important financial advice is for people and why she wanted to pursue it as a career. 'I was able to really see the passion that the Modera advisors had to help clients,' she said. 'I saw the advisors with their calm and reassuring words to clients. It showed me how I could really help others through financial planning and make them feel confident that they could reach their retirement and their personal goals. I thought that would be an admirable way to build a career.' Today, interns like Phoebe Switzer, who is coming to the end of one year at Halbert Hargrove, are often interested in financial services, but aren't aware of the wealth management space. Switzer found her way to Halbert Hargrove when she met Kiemle at a fitness center where Switzer was working the front desk. On Switzer's first day at Halbert Hargrove, she was impressed by the warm welcome from everyone at the office and those working remotely. 'My manager took me on a tour throughout the office,' she said. 'Everyone that I met in the office that day asked me how I was and said I could come to them with any questions. Many had been interns themselves. They made me feel very comfortable on my first day.' Switzer and her peers start the day by checking a queue of items. This includes assisting with client meeting preparation for advisors and working on client proposals. Switzer said she enjoys helping organize client notes because it allows her to read through their financial lives and understand their issues, goals and needs. 'I've learned so much from reading these notes about clients and their needs and goals,' she said. 'We also categorize them with the list of all of HH's services, and we see where their needs fit with what we can provide.' Now, the University of Southern California Marshall School of Business student is coming to the end of her one-year internship and is considering a career in financial planning. She may not, however, become a wealth manager. She is interested in the marketing and client proposal areas of the business. David Ford, director of human resources and talent at Lido Advisors, a Los Angeles-based RIA, said the firm's internship program seeks to show participants the range of options available in the space, in addition to wealth management. 'We will screen and ask the questions up front about what they may be interested in,' Ford said. 'Whether that client-facing, talking about investments, finances, or trusts, in which case it may be more of a wealth management track. Or it could be working with our alternative investments' operations team, or working on data and analytics, or legal and compliance, which is huge for us as an RIA.' Lido Advisors is also building its employee base through a program that includes hiring recently graduated students or bringing on current students part-time. 'Last summer we had 13 interns in the program, and the year before that we had nine,' Ford said. 'This year, we have 22 interns across the company starting on June 9.' That robust class size is partly due to Ford and Lido leaning into the program after seeing results. The interns contribute while at the firm, five of whom have become full-time staffers. Ford said recruiting the interns, which begins in January and February for the summer, takes many forms. One is through Handshake, a college job recruiting service. Another is through referrals from wealth managers who have 'these great, wide networks,' which Ford's team will keep as a running list for potential candidates. Another area is strategic partnerships, such as one the firm runs with C5LA, a foundation that seeks to help people find work for teens in under-resourced communities. According to Halbert Hargrove's Kiemle, the more embedded internship programs become at RIAs, the more likely they will be to help advance the thinking and workflows at the firms themselves. 'We're past the point of asking questions like 'is this worth it?'' she said. 'It's work and resources. But one of our core values is that we're innovative, and honestly, we wouldn't be able to be as innovative as we are right now without the interns. They're adding a lot of value to our firm at this point, but it took years for us to get up and running, and it's taken us evolution to get where we are today.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
