Just about everyone in the business is hiring, but we've been wondering for awhile where all those fresh recruits are going to come from. Looks like they're just not out there.
The math is simple. Unless there's a flood of new advisors being made out there, firms have to recruit from each other in order to grow.
If everybody tries to grow at the same time and few are actively training new people, the best they can do is raid their rivals more effectively while hanging onto the talent they already have.
Limited supply, universal demand. Those are great fundamentals if you're the talent -- and Advisors4Advisors readers definitely are that.
It's not so great if you're the manager or the recruiter looking to build a better team -- and that's the table many of you are actually on.
Brilliant piece over at Registered Rep talking about why some of the firms hunting recruits are getting swamped with applications but still aren't finding anyone they can use.
Hint: a lot of the applicants are faking their backgrounds because they really need the money.