Date of Conferral
10-6-2025
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
William Stokes
Abstract
High employee turnover can negatively affect a business. Some financial advisor managers are concerned about the retention of financial advisors who are new to the industry, as addressing this issue is vital for organizational efficiency, given the high costs of employee replacement. Grounded in social exchange theory, the purpose of this qualitative, pragmatic inquiry project was to explore the strategies financial advisor managers use to improve the retention of financial advisors who are new to the industry. The participants comprised eight financial advisor managers with successful retention strategies. Data were collected using semistructured interviews and by reviewing organizational websites and annual reports. Through thematic analysis, four themes were identified: (a) mentoring, (b) training and development, (c) total rewards, and (d) the availability of resources. A key recommendation is for financial advisor managers to actively mentor and coach new financial advisors. The implications for positive social change include the potential for financial advisor managers to implement retention strategies that reduce recruitment costs and increase profitability, benefiting local economies through enhanced community investment.
Recommended Citation
Alexander, Andraes Anthony, "Strategies Managers Use to Retain Financial Advisors New to the Industry" (2025). Walden Dissertations and Doctoral Studies. 18472.
https://scholarworks.waldenu.edu/dissertations/18472
