Our experience shows the prospecting lifecycle for active or motivated advisors typically takes about 6 months from the first conversation to the date the advisor joins your firm. A lightning fast placement is considered 2 to 3 months.
However, for passive or content advisors the process can take a year or two, or longer. Many of the recruiting placements we make (and most of the acquisitions) are from advisors we have nurtured a relationship with over time.
Firms who take a long-term approach to nurturing advisors for future hires and acquisitions reap a significant competitive advantage. Proper pipeline nurturing will build relationships, reinforce your brand/value prop, and build trust with the advisors who will be changing firms or retiring next year and the years to come.
We encourage you to draw upon your successful experience in building and nurturing your client prospect pipeline and channel the same passion and commitment to nurturing advisors.
While terms like pipelining, dripping, nurturing, follow-ups, and keep-in-touches are all technically different, the sum embodiment of the goal is the same: Build and nurture relationships with advisors you want to hire/acquire, so when their timing is right, you’ll have a stronger likelihood the advisor will choose your firm.
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