H&R Block Financial Advisors Lands 48 New Recruits in August; Advisors Attracted to Lead System and Ease of Onboarding Represent $1 Billion in Managed Assets

In the last fiscal year, advisors at H&R Block Financial Advisorsreceived more than 105,000 qualified, direct leads from the taxprofessionals of the sister business unit. Aldridge explained that thelead system automatically filters referrals from tax partners based onestablished criteria. They then flow directly into advisors' contactmanagement system. He said the system provides both the quality andvolume of direct leads that an advisor needs to grow their business.

But the story doesn't end there. New advisors at HRBFA aresuccessful with these referrals because they can soon partner with ahandful of tax professionals with whom they develop a relationship.Aldridge said, "It's through this relationship that a deeperunderstanding of what makes a good client for the financial advisor."

David Floeh, 53, a $560,000 producer managing $62 million inassets, made the jump from Edward Jones to H&R Block FinancialAdvisors. Floeh was one of six advisors recruited from the St.Louis-based firm in the month of August. "What I saw in HRBFA was areal emphasis, from the top down, to partner with differentprofessionals in other H&R Block business units to build ourbusiness," Floeh said. "This is a ground-floor opportunity to build apartnering machine with tax professionals that doesn't exist anywhereelse."

"The firm's commitment and support to me during the recruiting andonboarding phases were phenomenal. I met with each of the top threeexecutives of the firm who clearly demonstrated to me that they wantto help me build my business -- I felt like a human being. The chanceto partner and the support I can call upon gave me the courage to pickup my successful business and join the H&R Block Financial Advisorsbranch office here in Clayton, Mo.," Floeh said.

"We work very hard to make the onboarding process a positiveexperience for both the advisor and their clients," said Joan Cohen,executive vice president and the top executive of H&R Block FinancialAdvisors. The firm reports that new recruits are bringing asignificant portion of their book of business. The firm isexperiencing onboarding success because of the effort to make thetransition transparent for clients and to support the new recruitbased on their needs.

Cohen indicated that recruiting from other firms has been key. "Wehave picked up most of our recruits from the big name firms. We haverecruited both teams and individuals who see the difference we offercompared to the firms they're coming from," Cohen said.

The wirehouses aren't the only source for recruits. According toCohen, quality financial advisors are coming from independents, too.One example is Kathryn Gibeau, who operates out of HRBFA's ColoradoSprings branch. Gibeau, 48, came from Independent Financial MarketingGroup and is a $410,000 producer with more than $34 million undermanagement.

According to Gibeau, several aspects of the firm attracted her. "Iam very pleased that HRBFA allows me to operate my business the way Iwant to -- to meet my clients' needs the way I know best," Gibeausaid. "I have a new energy now that I haven't had in 18 years."

Making a smooth transition was also important to Gibeau. "The waythey made the onboarding process so simple was outstanding. They hadall my clients notified for me in a matter of just a few days and hadpackets in my clients' hands to immediately begin account transfers."

HRBFA's recruits in August represent more than $1 billion inassets under management and more than doubled the firm's productiontarget for recruiting. Cohen said: "This success points out twothings. One, our more focused recruiting effort to reachhigher-producing advisors is successful. Two, once an advisorunderstands the value proposition of working here, it's an easydecision."

About H&R Block

Celebrating its 50th anniversary in 2005, H&R Block is the world'slargest tax services provider, having served more than 400 millionclients since 1955. The sixth largest retailer in the world, H&R Blockhas more than 12,000 locations serving taxpayers primarily in theUnited States, Canada and Australia.

H&R Block's subsidiaries deliver tax services and financialadvice, investment and mortgage services, and business accounting andconsulting services. H&R Block Financial Advisors Inc. offersinvestment services and securities products. With approximately 1,000financial advisors serving clients at approximately 250 locations, H&RBlock Financial Advisors is a member NYSE, SIPC, a registeredbroker-dealer and investment advisor. H&R Block Inc. is not aregistered broker-dealer and is not a registered investment advisor.H&R Block Mortgage Corp. offers a full range of retail mortgageservices. Option One Mortgage Corp. provides mortgage services andoffers wholesale mortgages through large financial institutions and anetwork of approximately 25,000 independent mortgage brokers. RSMMcGladrey Business Services Inc. and its subsidiaries serve mid-sizedbusinesses and their owners with tax, accounting and businessconsulting services, as well as personal wealth management services.H&R Block Small Business Resources is a new business currentlyoperating in 14 U.S. cities that serves the tax, financial andbusiness needs of small business owners. H&R Block Small BusinessResources is not a licensed CPA firm. For more information about thecompany, visit our Online Press Center at www.hrblock.com.