Recruiting
Wells Advisors Gives Headhunters More Time on Recruiting Bounty
Deal that pays recruiters a hefty 10% of a hired advisor’s 12-month revenue was to have ended in September, but will continue through year-end as Wells pushes to fill seats.
Raymond James Recruiting Breaks Records, But Profitability Slips
The company reported a 16% sequential decline due in part to costs associated with business development, including “significant” recruiting and retention costs, as well as litigation.
Opinion: Report Card on an Industry in Transition
AdvisorHub CEO grades the various business models.
Stifel Restores Back-End Recruiting Bonuses Following DOL Rule’s Demise
Firm is latest to unwind DOL changes as it pads bonuses with an additional 25% to 75% for transitioning client assets.
RayJay Sticks with Recruiting Despite Rising Costs
Hiring and retention bonuses slice profit margin of private client group by almost 5%, and forgivable loan balances hit $885 million, but Florida firm says is not retreating.
JPMorgan to Hire 1,000 Private Bankers, Executive Says
Asset and Wealth Management CEO Mary Erdoes said recruiting will help bank double its high net-worth market share over the next 10 years.
Ameriprise Fattens Recruiting Deal in Employee Channel
Aggressive offer includes potential for top-quintile brokers to receive 320% of their trailing-12 production over four years, including 170% upfront in cash.
Morgan Stanley “Feels Good” About Its Comp and Recruiting Policies—Saperstein
Co-head of wealth management business warns of tough second quarter but says firm is content with its hiring, compensation and technology strategies.
Why Hiring Firms Sometimes Say ‘No’ to Strong Producers
When an adviser has a pittance saved in his or her own retirement accounts alarms go off at Raymond James, while Lincoln Financial wants a detailed workout plan from advisers with financial difficulties.
Wells Ups Bounty for Headhunters in Short-Term Recruiting Push
Wells Fargo is offering recruiters a hefty 10% of a hired broker’s trailing 12-month revenue, up from about 6%, through the end of September.
J.P. Morgan Moves Again, Hires from UBS in Atlanta, Dallas, Palm Beach
On eve of a wirehouse’s withdrawal from the Protocol for Broker Recruiting, J.P. Morgan Securities again pulls out the recruiting stops and lands a $5 million team.