by Patrick M. Kelly | May 31, 2011 | Financial Recruiting Industry, Job Market
We’re seeing a “flip-flop” in the financial recruiting arena lately. Big brokerage firms are now knocking on the doors of “independent” brokers, and that marks a change for both parties. During the financial crisis, firms like BofA’s Merrill Lynch and Morgan Stanley...
by Patrick M. Kelly | May 2, 2011 | Brokers, Financial Recruiting Industry, Financial Services Industry, Wall Street
Last week’s surprise announcement by Ameriprise Financial that they would find a buyer for Securities America sent their 1,800 financial advisors and industry recruiters buzzing about where to find new positions at other firms. Since the announcement was just made...
by Patrick M. Kelly | Apr 29, 2011 | Financial Recruiting Industry, Financial Services Industry
Lots of “scuttle” out there regarding Broker Protocol and the changes we’ve seen the past two years (U.S. Trust and their “Garden Leave” has brought the topic back into the limelight). Since the 2004 origin of Broker Protocol, which was used to aid the big firms to...
by Patrick M. Kelly | Apr 12, 2011 | Compensation, Financial Recruiting Industry, Financial Services Industry, Job Market
Of note last week was the announcement by Bank Investment Consultant that financial advisors last year sold a whole lot more mutual funds, ETF’s and other equity-linked products while continuing to increase annuity sales. In addition, the trend toward more fee-based...
by Patrick M. Kelly | Apr 8, 2011 | Financial Recruiting Industry
What exactly is the “Garden Policy” and will it hamper recruiting? Traditionally, wealth management firms largely follow a broker protocol, whereby an advisor cultivates a personal relationship with clients and has ownership of their business. A garden leave...
by Patrick M. Kelly | Mar 30, 2011 | Financial Recruiting Industry, Hiring, Job Market
It was an interesting survey recently conducted by Grant Thornton LLP that pointed to the optimism of banking executives regarding the U.S. economy’s recovery in the next six months. A robust stock market, stabilizing unemployment and improving corporate earnings...
