On Recruiting

Apr 10, 2020, 10:33 AM EDT

Is recruiting happening in the COVID world?


By Danny Sarch

For wealth managers and advisers, recruiting is a contact sport. But 'contact' is now a four-letter word Read full post

Aug 14, 2019, 12:35 PM EDT

As wealth management firms try to hold onto assets, they don’t always get what they pay for

By Danny Sarch

Firms pay retiring brokers for their clients' assets, but clients often take their business elsewhere. Read full post

Jul 8, 2019, 12:34 PM EDT

Independence means different things to different people in wealth management

By Danny Sarch

Some define it as starting their own firm, while others insist it means having full control over investment products and client relationships Read full post

May 8, 2019, 12:32 PM EDT

Wirehouses are losing the war for client assets


Firms like Schwab are raking in assets at a much faster clip than the big brokerages. Read full post

Mar 27, 2019, 12:31 PM EDT

Regional firms provide an alternative to wirehouses


As big brokerages lose their competitive edge, regionals are offering a home to advisers who want to stay in the employee channel. Read full post

Feb 20, 2019, 12:30 PM EST

Wirehouse culture driving the move to independence


Brokers are rejecting a culture driven by leaders who lack ethics and who have never been advisers. Read full post

Sep 25, 2018, 12:26 PM EDT

Will Merrill Lynch leave the broker recruiting protocol?


The wirehouse has obviously noted its own lack of recruiting success this year, as well as the slowed attrition rates at its competitors that have exited the protocol. Read full post

Mar 13, 2018, 12:21 PM EDT

Wirehouse advisers: time to unionize?


If leaving becomes more and more challenging for advisers, their firms may keep cutting compensation to boost returns to shareholders. Read full post

Jan 16, 2018, 12:20 PM EST

Delay in fiduciary rule does not take any wealth managers off the hook


RIAs and Brokers must recognize each other's strengths and weaknesses for the sake of clients. Read full post

Nov 27, 2017, 12:19 PM EST

UBS broker-protocol exit puts firm before clients


Wirehouses are making big bets they can turn "world class" advisers who leave into old laundry. Read full post

Oct 31, 2017, 12:19 PM EDT

Morgan Stanley is waving the white flag on recruiting


Exit from the broker recruiting protocol agreement latest sign that firm is losing the recruiting wars. Read full post

Sep 11, 2017, 12:18 PM EDT

Saying you are a fiduciary does not mean you are a fiduciary


The brokerage suitability model is rife with conflicts of interest, but the RIA model is not pure. Read full post

May 30, 2017, 12:17 PM EDT

As Merrill Lynch and Morgan Stanley cut back, what’s next for recruiting deals?


If you are a wirehouse adviser who has counted a giant recruiting package as part of your net worth, you need to recalculate. Read full post

Mar 10, 2017, 12:15 PM EST

The bull market for wirehouse recruiting deals is over. What will happen next?


Firms that make strategic changes will not only slow attrition, but position themselves to attract top talent for less than they are paying now. Read full post

Nov 3, 2016, 12:13 PM EDT

Frequently asked questions on the DOL fiduciary rule’s FAQs


The Department of Labor's 24-page document on frequently asked questions on the fiduciary rule inspires even more questions from the advisory industry than it answers. Read full post

Oct 30, 2016, 12:14 PM EDT

Good branch managers a dying breed

By Danny Sarch

The best were former advisers themselves, but that may not be the case in the future. Read full post

Oct 10, 2016, 11:43 AM EDT

How big wealth management firms should treat top-performing advisers to keep them happy

By Danny Sarch

Those who excel should be paid better, allowed to thrive and grow, in an aspirational, transparent way that will be admired by peers, competitors, shareholders and regulators. Read full post

Sep 9, 2016, 11:40 AM EDT

We need a new vocabulary in the wealth management industry

By Danny Sarch

Attempting to define all firms as wirehouse, independent or regional is as accurate as saying all ice cream is chocolate, vanilla or strawberry. Read full post

Aug 29, 2016, 11:18 AM EDT

Wirehouse recruiting numbers must be more transparent


Only when we see the facts behind the aggregate numbers can we learn what is really happening at these firms. Read full post

Aug 23, 2016, 11:36 AM EDT

Why Finra needs to fix BrokerCheck now

By Danny Sarch

While the system provides access to up-to-date and accurate information on an adviser's record, it also publishes mere accusations, convenient settlements and decades-old misdemeanors. Read full post

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