Date of Award

9-6-2012

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PHD)

Degree Program

Global Leadership - with a specialization in Corporate and Organizational Management

Department

College of Business and Management

First Advisor

Eldon Bernstein

Second Advisor

Jose Lopez

Third Advisor

Alison Rampersand

Abstract

The purpose of this study was to apply the platform of existing knowledge and ideas in the area of sales management with regard to the motivation of financial advisor associates (FAAs) in the financial services industry in the United States. The major theories examined in this study were: social exchange theory, leader member exchange, expectancy theory, transformational leadership, and transactional leadership. The primary focus of this non-experimental, quantitative, explanatory (correlational) research was the relationships among the independent variables (psychological climate of the workplace, the branch manager's leadership style, the demographic factors and work experience of the FAAs), and the dependent variable, the motivation of the FAAs in their first five years in the industry. The desired outcome was a better understanding of the correlation among these factors and the ultimate affect on the motivation of FAAs during the first five years of their careers. The importance of this study addresses the excessively high turnover rate among new advisors, which has exceeded 50% in past years (Wallach, 1983; Brown & Peterson, 1994). The accessible population was financial advisors and associates with at least one year in the industry and employed in the United States. The primary method of data collection was an Internet-based survey to financial advisors and financial advisor associates who volunteered to participate. The survey combined segments of established questionnaires and was adapted for specific use in this study. The study used multiple regression analyses to test six major hypotheses in order to answer six research questions. The desired effect of this research is to encourage sales leaders in all industries to continue to seek the most effective ways to motivate and lead their most important resource: their people.

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