“Cut Your Best Deal Now”
OnWallStreet.com’s annual Recruiter Roundtable met in January with discussions on future issues within the industry and the prognosis for financial advisor recruiting in the months to come.
Bill Willis, President and CEO of Willis-Consulting, Inc. is a member of the Roundtable, along with eight other top recruiters.
These talent scouts recognize that 2013 was a stellar year to be a financial advisor, with a rising market lifting all boats. But—the group also sees trouble brewing in paradise, beginning with the FINRA transition package disclosure rule that will most likely be enforced.
Other changes are forecast that make the timing right for advisors to consider a move. Per Bill Willis,
“There’s complacency out there, there are retention deals, but you know when this year’s better than last year and this month’s better than last month, it’s hard to think about disrupting that momentum. I think that’s what we’re seeing right now. But it is probably the single best time to make an exit and make one of the selections that’s right for you. Because clients are very happy right now; their returns should be very good on all types of basis. Disclosure’s coming. We don’t know when; we don’t know what it’s going to be. But we know what we have now and we don’t know what we’re going to.”
For more on the Recruiter Roundtable discussion: Kris Frieswick, Saturday, February 1, 2014, reports for OnWallStreet: