In addition, the experienced advisor who mentored Smith in his office in Mandeville, Louisiana, is handing over to Smith a $5 million account to ease his transition. That occurs through the firm's Goodknight program, which allows an advisor to delegate some assets to a trainee who has performed especially well.
For the financial advisory industry it is more than just the right thing to do, Runnion says. "Remember, there's also a business element." But there is a future benefit as well. And Runnion says, one only needs to look back to the last time veterans came home from the major war. "The men and women leaving the active force now are going to be the next great generation, the next great business leaders," he points out. "They're in their late 20s, early 30s. Soon they'll be in their 40s, and that generation is going to lead our industry. If we don't embrace them now and give them opportunity as an organization we're going to miss out on that."
For a more in-depth video interview with Lewis Runnion,
please go to http://www.onwallstreet.com/video/
*Editors' Note: This name has been changed from a previous version which incorrectly specified "Matt Huffman" as the talent acquisition specialist involved.