C: 480.415.4644 | O: 602.495.6481
FOR IMMEDIATE RELEASE:
Oct. 3, 2017
PHOENIX – The Greater Phoenix Chamber Foundation in partnership with the City of Phoenix ARIZONA@WORK office is launching a pilot program dedicated to preparing individuals to pass the Series 7 License exam, a requirement for virtually all financial services careers.
Access to a larger pool of qualified talent will enable existing Arizona financial services companies to expand their footprint and grow the economy. Several companies, who are typically fierce competitors for clients and talent, decided to pursue a collaborative approach to meet the increasing workforce demand.
“We met with a local financial services company and they asked the Chamber to bring together their competitors to start thinking about filling their talent gaps differently,” said Todd Sanders, President and CEO of the Greater Phoenix Chamber of Commerce. “Through collaboration with multiple financial services companies and a partnership with the City of Phoenix Arizona@Work office, we are targeting a new pool of candidates to fill these jobs.”
Right now, financial services companies invest a substantial amount of time and money into training candidates to take the Series 7, with a 70 percent success rate. And there is no guarantee that the 70 percent who pass will make for successful employees either. This costly model is long overdue for an update.
“It’s great to see extremely competitive companies all come to the table with a collaborative solution to a common challenge,” Sanders added.
“Financial services careers in Phoenix are job opportunities that are going to continue to increase significantly,” said Christine Mackay, director, Phoenix Community and Economic Development. “BBC America says that within three years, Phoenix will have more financial services workers than Wall Street. Financial service jobs can be career ladders leading to personal job advancement.”
We invite motivated people ready to maximize their potential to join us on Oct. 12 or Oct. 13 to learn about preparing to successfully pass the Series 7 on the first shot and to see if they qualify for tuition funding.
Select quotes from participating employers:
“Programs like this one help us in recruiting and retaining top diverse talent from across the region, a win-win for us and the community helping to spur sustainable economic growth.”
– Jared Troxel, Merrill Edge
“We are excited to participate as this program provides members of the community an entry point into a career where they can make an impact by developing engaging relationships with others, have exceptional earning potential to advance the lifestyle of their family and be in control of their destiny.”
– Mark Bonnett, North Star Resource Group
“Schwab is constantly seeking people who share our desire to serve investors with passion and integrity, and we are pleased to participate in a program designed to help people pass a challenging exam and overcome a barrier to entry to such a rewarding career as a financial professional.”
– Phil Huhta, Charles Schwab
“Participating in programs like this affords USAA the opportunity to serve our community in a greater capacity and partner with other exceptional organizations to promote talent. As a unified force, we are able to increase community awareness in financial literacy as well as highlight the abundance of career opportunities within the financial industry. Not only is this a great initiative to strengthen recruitment, but the economy at large as well.”
– Rick Reilly, USAA
Initial participating employers:
North Star Resource Group
WHAT: Series 7 Pilot Cohort Open Houses
Thursday, October 12
6 p.m. – 7:30 p.m.
Juniper Library, City of Phoenix
1825 W Union Hills Dr.
Phoenix, AZ 85027
Friday, October 13
9 a.m. – 10:30 a.m.
Phoenix Business and Workforce Development Center
302 N. First Ave., 6th Floor
Phoenix, AZ 85003
Director, Marketing & Communications
Greater Phoenix Chamber of Commerce
C: 480.415.4644 | O: 602.495.6481
About the Greater Phoenix Chamber Foundation
Launched in 2016, the Greater Phoenix Chamber Foundation carries out charitable and education objectives by conducting research, forming partnerships and hosting events focused on education, workforce development, wellness and community development.
About the Greater Phoenix Chamber of Commerce Representing 2,400 businesses across the Greater Phoenix region, the Greater Phoenix Chamber of Commerce promotes regional prosperity by serving as a catalyst for economic vitality and strong communities. The Chamber pursues this mission by collaborating with business, political and community leaders to grow the regional talent pool, create a regional approach to economic development and drive a pro-Arizona agenda.