Financial advisor recruiters are finding that top advisors are being more selective when considering a career move.
It’s no longer all about the compensation. Instead, “equity and career growth” are the focus.
“They want to be stretched and challenged, and they want an opportunity to grow. They want to be able to help build a business, grow a company and develop new talent.”
These are the findings reported from a five year survey by Kathy Freeman, CEO of her executive search firm to OnWallStreet ‘s reporter Charles Paikert on March 4, 2014.*
Equity has also become an increasingly important driver of career satisfaction, the survey found. Nearly two-thirds of the 225 executives surveyed said they would consider taking less cash compensation to gain an equity stake in a new firm.
“Truly talented people will opt for wealth creation over cash compensation,” the report found. “Whether it’s a profit-sharing plan or an equity stake, the offer of ownership will resonate with executives”.
More intriguing, 60% of the executives surveyed said they would consider a position outside their firm this year. *More on this story…