- On June 5, 2017
The negative compensation trajectory for traditional wirehouse branch managers is about to accelerate. With wirehouses turning their managers attention from recruiting proven producers to recruiting and coaching smaller advisor upstarts, strong recruiting managers are left in the lurch unable to utilize the one of the best tools in their toolbox. They are now being told to focus on and increase the profitability of the branch rather than recruiting top advisors. In the past the most obvious way to increase branch profitability was to recruit.
Recruiting is about relationships. Many managers have spent years and decades building relationships with the advisors in their market. They have competitive intel on the backgrounds, personalities, and nuances of the advisors in their market. These managers often have not only a local presence and influence but often a national one.
While wirehouses are no longer interested in your recruiting prowess, there are other firms who are in recruiting modes who place real value to the relationships, experience and recruiting skills you offer.
Advisorbox is helping non-producing branch managers who love recruiting with 3 alternative paths:
- Regionals and nationals looking to upgrade branch manager leadership and recruiting in select areas across the country.
- Regional, divisional and even national recruiting director opportunities exist at firms seeking to recruit wirehouse advisors.
- Large ensemble independent practices building their own empires are looking for seasoned managers who can be effective at recruiting breakaways for their firm and can contribute experience and leadership to their rapidly growing firms.
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