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