Is Just About Everyone In The Industry Actively Recruiting? Fidelity Says Yes

Wednesday, May 25, 2011 06:18
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Is Just About Everyone In The Industry Actively Recruiting? Fidelity Says Yes

Tags: recruiting

The vast majority of the advisory and brokerage firms out there are looking to staff up this year, according to a recent poll Fidelity conducted.

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Fidelity found that 75% of the firms out there want to hire more people.

 

For most of them, established advisors with their own client accounts are the top priority. Only 19% of the people Fidelity talked to are interested in training new reps and advisors.

 

Interestingly, 21% of all the firms out there say recruiting new advisors will be their top growth center this year. At best, 19% want to capture more assets from existing clientele, while the rest -- a stunning 80% -- expect to focus on signing new clients. 

 

Once again, the question is where all these clients and advisors will come from. Fidelity says maybe a third of the firms out there are expecting to profit from people fleeing the consolidated wirehouse channel. Hard to say whether that will be enough.

 

 

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