Boosting the number and role of women is an objective of RaymondJames and other firms in the wealth management business. But how doyou make that happen?

During the 18^th annual Women's Symposium hosted bythe firm in St. Pete Beach, Fla., a roundtable of six advisersdiscussed that issue with AdvisorOne over lunch onThursday.

Of Raymond James' 6,000-plus advisers, about 14% are women. Inthe first year of its training program for new reps, the AdviserMastery Program, 35% of its participants were women.

• READ MORE about women leaders in the creditunion industry.

An important part of supporting women in the business, they say,is having the right culture. This includes taking steps to supportfemale advisers and other women throughout the firm and doing asmuch as possible to encourage the formation of adviser teams.

“I am pleased with the program that — through a system ofcompetency points — recognizes support staff,” said KathleenCrowley of Raymond James Morgan Keegan in Panama City, Fla. “The cultureis very different from what I experienced in the past at someplaces.”

“I see it as family friendly and as more than a corporation,”added Cheryl Peschke, an employee adviser with Raymond James &Associates (RJA) in Houston.

The support advisers need in the field, they note, can meanshaking things up a bit at headquarters — which Raymond James hasbeen willing and able to do — and talking up such challengesopenly.

“At the corporate level, some people had gotten very comfortablein their jobs, but they had to improve. So Raymond James is takingthese employees that are seen as “nice but …” and moving somealong,” said Margaret Starner with RJA in Coral Gables, Fla.

“It's uplifting to those of us looking for [top] service. And wehad heard about what Raymond James was doing, but then we heardmore about it here today with coherency and continuity,” Starnersaid. “It was well articulated, and it never crossed my mind thatit would be discussed like this.”

Others agree. “The fact that it was spoken about is very good,”said Rachel McNeil, an adviser and participant in the company'straining program in St. Petersburg, Fla. “It's not about changingthe culture but addressing these issues.”

Starner sees the move to boost service and performance at thecorporate level as a renewed drive for accountability led by CEOPaul Reilly. “It's a big morale lifter,” she added.

For those joining the firm, these measures translate intopositive results. “I was afraid when I would dial the 800 number atsome other firms,” said Sarah Komischke, who is part of the bankchannel and works at the United Nations Federal Credit Union.

“Raymond James is very helpful in the back office, which is avery positive surprise,” said the ex-JPMorgan Chase and MerrillLynch employee. “You get an answer very quickly.”

Glass Ceiling?

As for women having the influence and presence they would liketo have in wealth management, “We and the industry are not quitethere yet, but we hope to get there,” said McNeil.

And the firm they're with supports this effort, they add. “Wesee with what [RJA President] Tash Elwyn and others are saying that there is big commitmentto it,” explained Starner.

Do they feel, as women, that they are an equal part of theRaymond James organization?

“We have brought that up every year,” said Starner, whosepractice manages $350 million in assets. “And there are womenexecutives, like Bella” Loykhter Allair, head of technology andOperations for RJA.

“The leadership wishes we had more [women in management] andaspires to that goal,” the veteran adviser noted. “This is asituation common to all firms and to the industry.”

When it comes to increasing the number of women advisers in thebusiness, some female reps say this can best be supported throughteam building and succession.

“My theory is that women are more comfortable giving advice ifthey feel they have a high degree of competency,” said Starner. Ifthey know they are set to be part of experienced teams, “Women willbe more comfortable joining and being advisers.”

McNeil says that is certainly the case for her. “As part of mytraining, I joined a team one year ago,” she said. “I decided Iwanted to join an established group and not go out on my own.”

For her—as well as for other advisers, young and old alike—it'san issue of watching their own finances while striving to helptheir clients do the same. “It's tough to be out on your own, interms of financial stability. For me, it's helpful that I can joina team through the training program.”

The team support can also help advisers better serve clients,other reps say.

“Many young people have not had the life experience of goingthrough different markets and seeing lots of volatility,” said JodiPerez, an affiliate of Raymond James' independent channel in LandO'Lakes, Fla. “It's a good choice to join a team.”

Generally speaking, women know they can't do everything and beexperts of everything, Perez says. And like their clients, theywant to have backup at all times.

With the market's low returns today, “We are busier than ever.This is tough,” said Starner. “But it's an opportunity, and wedon't know how long this opportunity will last.”

This article was originally posted at AdvisorOne.com, a sister siteof Credit Union Times.