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4 Advisor Recruiting Trends for 2014

Drawing on his team’s experience over the last year, Tom Daley, founder and chief executive of The Advisor Center, predicts four recruiting trends in 2014:

1. Advisers are choosing to join existing branch offices or tucking into RIAs and hybrids. Advisors with 10 or more years of experience prefer to align with an entity to expand their offering and maintain a level of independence instead of going solo.
2. Branches, RIAs and hybrids will continue to grow in the era of “superensembles.” As long as advisors are flocking to existing opportunities, superensembles will continue to thrive. Today, many branches, RIAs and hybrids have profiles and offerings that can compete head-to-head with larger firms.
3. Advisors continue to focus more on the long-term value of the transition package and offering rather than on the short-term lure of upfront money. While upfront money is still an important part of transition assistance, advisors are focusing more on the overall value of the offering, including service, compliance, marketing and technology.
4. Advisors who want to switch firms are placing a high priority on staying with their current clearing firm and/or custodian. This makes sense on a variety of levels. Daley says, including making transitioning the business that much easier.

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