Wells Fargo Gets Serious About Recruiting Half Its Advisors From Other Industries
- Created: Wednesday, 11 May 2011 07:20
Good piece here on the third-biggest brokerage firm's efforts to woo professionals from outside the normal industry career path.
These "rainmakers" tend to come out of the business world, not the wirehouse.
Wells Fargo wants to reach out to these non-traditional advisor candidates to the point where only half of its recruits are already advisors -- the rest will be established in other careers or looking for a change.
Granted, these recruits are more mature and have a better idea of what they want. They often bring specialized knowledge and skills to the table from their previous professional lives in insurance, the military, academia and so on.
The question is how WFC will apply those "specialist track" talents to the process of selling financial advice. Are these specialists really just older recruits with better developed personal networks to cultivate for prospecting purposes?
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