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Recruitment for Financial Advisors on the Rise

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Financial Advisors Recruitment – Financial Industry Needs Next-Gen Talent Now

Given forecasts that the wealth management industry will face a shortfall of employees in coming years, firms need to build their talent pipelines including Recruitment for Financial Advisors

Reported By Ron Carson, Investment News, September 10, 2018

Investment News reports: “The ground is shifting beneath our feet. The problem is, we look down to see the ground cracking while remaining completely oblivious to what’s overhead: A new atmosphere. A changed environment. An unrecognizable future. The financial services industry today looks nothing like it did just five years ago. For one thing, it’s older. Some studies estimate that by 2022, the U.S. wealth management industry is likely to face a shortfall of at least 200,000 employees. Much of this reflects the aging population of financial advisers. Meanwhile, consumers are more comfortable than ever with artificial intelligence when it comes to investing. They’re more educated, more aware of what’s in their best interest and more capricious with their loyalty if they don’t see their adviser proving immediate value. Consolidation is picking up momentum in a space that was once stale. And financial advisers continue to feel fee compression while the cost of running a business continues to rise…

Once thing is clear there is a growing need: Recruitment of Financial Advisors – Read More>>>

Posted in: Independent Broker Dealer News

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Independent Broker Dealers Attract Quality Brokers 2018

Independent Broker Dealers Attract Quality Brokers 2018

Independent Broker Dealers Attract Quality Brokers 2018

Independent broker dealers have narrowed the gap between themselves and the wire-houses. They are able to attract more quality brokers from the Big Four.

Reported by Bruce Kelly, January 27, 2018

For years, many wire-house brokers wouldn’t consider moving to an independent broker dealer — and for good reason. The technology at Independent Broker Dealers wasn’t on par with the wires. They had no public branding to bring clients in the door. And perhaps above all else, their recruiting bonuses were measly compared with those offered by wire-houses.

And while the four wire-houses — Morgan Stanley, Merrill Lynch, Wells Fargo Advisors and UBS Wealth Management Americas — still get their fair share of recruits from each other. Independent Broker Dealers have been making considerable inroads in recruiting wire-house brokers, often the most experienced and productive in the industry.

The evidence is striking. The three largest Independent Broker Dealers — LPL Financial, Ameriprise Financial Inc. and Raymond James Financial Inc. — recruited 118 teams from the wire-houses in 2017, a 42% increase over a year earlier, when those same three firms saw 83 such moves, according to InvestmentNews data.

Read More>>>

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Mergers & Acquisitions Drop Significantly 2018

Mergers & Acquisitions Drop Significantly 2018

Mergers & Acquisitions Drop Significantly in 2nd Quarter of 2018

Though the number of deals is declining, the size of the average deal is growing…

Reported by Sarah Min, Investment News, on July 31, 2018 states:

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co.

RIA transactions dropped to 32 in the second quarter from a record 49 in the first quarter. That continues the volatility seen recently, with the strong first quarter preceded by two weak quarters at the end of 2017.

“It’s been a whipsaw market,” said David DeVoe, managing partner at DeVoe & Co. “We’ve gone from record lows to record highs, so it’s a roller coaster.” Read More >>>

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