High-Pressure Sales Approach To Advisor Recruiting Is Out; Safe Team-Based Positions Are In
- Created: Wednesday, 06 April 2011 21:35
According to annuity-oriented trade organization LIMRA -- which, by the way, has built a spectacularly useful and information-rich website by umbrella group standards -- Generation X and Y job seekers run screaming from any position that promises to involve sales, even though they adore referring products within their social networks.
The difference is largely one of semantics, but here's the twist. Younger recruits are willing to work for a lot less money if you can promise them some measure of job security.
LIMRA doesn't say so, but it might be the lingering effect of coming of age immediately after a crippling recession -- the Gen Xers after the 1980-3 slump and then again after the 1987 crash, the Gen Y crowd now.
The recruiters LIMRA talked to also say that younger reps are more team-oriented and less competitive than the Boomers who currently dominate the industry.
That's not exactly a surprise, given all the other generational profiling on the "millennial" workers, but it highlights new ways that the talent of tomorrow prefers to operate.
This Website Is For Financial Professionals Only
- Succession Link, A New Listing Service For Advisors Who Want to Sell Firms, Debuts
- RIA Consolidator Beacon Pointe Announces Deal With $100 Million AUM RIA And Is Looking For 40 More RIAs
- Like Doctors, Advisors Don't Take Their Own Medicine When It Comes To Succession Planning Advice
- Creating A Wealth Management Firm That Will Be Highly Valued When You Are Ready To Sell