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Registered Rep. March 1, 2006 Mindy Diamond |
Creative Giving Over the past year, top brokers who have switched houses on the Street have gotten some very creative compensation packages. The better the broker the more bells and whistles -- like loans and designer offices -- they are offered.  |
Registered Rep. January 1, 2007 Mindy Diamond |
New Year, New Job? January is a month for making resolutions in all areas of your life. Make one now to take a realistic assessment of your current career situation. Here are two questions every financial advisor should ask himself periodically.  |
Registered Rep. May 14, 2013 Mindy Diamond |
The Economics of Choice In many cases, the economics of the independent model can be exponentially better than those being touted by the wirehouses today.  |
Registered Rep. May 1, 2005 Mindy Diamond |
What About Your Retirement? Brokers often take a shortsighted view of their careers, and this usually turns an effort to convince them to think about their own retirements into an uphill battle.  |
Registered Rep. August 29, 2014 Mindy Diamond |
Ten Years of Myths and Moving Why advisors need to purge common "myths" from their thinking about changing jobs.  |
Registered Rep. May 12, 2011 Mindy Diamond |
Golden Handcuffs Loosen Some advisors who signed retention agreements have already begun looking for a way out, but plan to hold off on the switch for a year or two, until they can pocket more of that retention money.  |
Registered Rep. March 1, 2007 Mindy Diamond |
Of Myths and Moving: Revisited The thought of changing firms is a big step for any financial advisor. But don't let cloudy thinking get in your way. Make sure you stop paying heed to old Wall Street myths. Don't fear change. Embrace it.  |
Registered Rep. October 1, 2005 Mindy Diamond |
What Size Pond? It is important for advisors to find a firm that is a good fit for their particular goals. In many cases, small firms work well. For advisors looking to expand their books aggressively, larger firms are often -- but not always -- a good option.  |
Registered Rep. November 8, 2010 Kristen French |
Merrill Strengthens Golden Handcuffs For New Hires, Recruits Small Fry To receive all of his recruiting bonus money, a new hire must now stick around for 14 years, instead of nine, and all of the back-end money is now deferred, where a big portion used to be in cash.  |
Registered Rep. March 1, 2008 Mindy Diamond |
What To Know Before You Switch Here are 10 things every financial advisor should evaluate when deciding where to land his next gig.  |
Registered Rep. October 1, 2012 Mindy Diamond |
Lost In Translation Different languages: How communication gaps can kill recruiting for advisory firms.  |
Registered Rep. December 1, 2004 Mindy Diamond |
Packing the Parachute Success in the brokerage industry can be as much about mindset as anything else, so it comes as little surprise that advisors avoid negative thoughts, such as the potential necessity of a quick exit from their practice.  |
Registered Rep. August 11, 2009 Kristen French |
Wirehouse to Wirehouse Switching Sinks Fewer and fewer financial advisors are leaving one wirehouse for another. Instead, they are heading to independent, regional and institutional firms.  |
On Wall Street October 1, 2008 Danny Sarch |
Seven Reasons Why Advisors Move A firm that's hemorrhaging money isn't the only reason advisors leave. Company polices and management attitudes also play a part.  |
Registered Rep. March 12, 2010 Mindy Diamond |
Break Back Brokers Over the last six months, an interesting reverse shift is occurring: the RIA or independent b/d advisor who wants to return to (or go to for the first time) a wirehouse firm.  |
Registered Rep. February 1, 2003 David A. Gaffen |
An Employer's Market It's a hirer's market out there, but brokerage firms have not stopped recruiting. In fact, although it is quieter than usual, many firms are still willing to pony up big bucks in hopes of attracting top-shelf talent.  |
Registered Rep. June 1, 2005 Mindy Diamond |
Don't Be Afraid to Go for It Openness to switching firms is essential if a broker wants to take advantage of an industry that can, and will, provide brokers with opportunities to capitalize on a lifetime of hard work.  |
Registered Rep. January 1, 2003 Nicholas Ferber |
Switching Has Changed During trying times like these, many reps are looking to switch jobs. When pondering a move, no question occupies more time or discussion between brokers, hiring managers and (sometimes) recruiters than the following: "What's in it for me?"  |
Investment Advisor June 2008 Jonathan Henschen |
Transfer Time For advisors pondering a move from a wirehouse to an independent broker/dealer with visions of large, forgivable transition loans dancing in their heads, it's time for a reality check.  |
Registered Rep. March 22, 2013 Mindy Diamond |
Of Myths and Moving: Part IV When it comes to preconceived notions about the wirehouse world and independence, many advisors have it all wrong. Here are the five most common myths advisors have today.  |
Registered Rep. April 1, 2008 John Churchill |
Good Times, Bad Times Shares of the major broker/dealers are getting hammered. The good news is, for those of you who have always wanted to move on, but couldn't because it made you sick to leave unvested options on the table, this may be your moment.  |
Registered Rep. September 1, 2004 Mindy Diamond |
Of Myths and Moving A large number of brokers labor under a group of myths and misconceptions that keep them from managing their careers effectively.  |
Registered Rep. February 27, 2014 Mindy Diamond |
Free Agents Many wirehouse advisors are frustrated with increased bureaucracy and a loss of flexibility. In fact, many say they will leave unless their firms re-up the retention deals.  |
Registered Rep. May 26, 2010 Jerry Gleeson |
Bonuses No Balm For Some Breakaway-Minded Brokers Paying retention bonuses to top brokers to keep them from jumping ship is a pricey strategy that only works some of the time, a report released today by Aite Group shows.  |
Registered Rep. September 13, 2010 Susan Konig |
Wirehouse Recruiting Stalls, Deals Keep Rising but Fewer Advisors Moving These days there are a lot more strings attached to recruiting packages and in the current market they're not great for brokers or firms.  |
On Wall Street February 1, 2011 Carri Degenhardt-Burke |
The Year Of The Wirehouse If you are serious about growing your business, get to a wirehouse! And if you just left, go back. It's been a long-standing notion that financial advisors perform better within the wirehouse system.  |
On Wall Street September 1, 2009 Helen Kearney |
On Life Support a Year Ago, Merrill Pays for Top Producers Merrill, under BofA, seems to be on the hunt to add to its ranks, and it's offering a very competitive package that has almost unlimited upside for top producers.  |
Registered Rep. May 13, 2009 Christina Mucciolo |
Wall Street Squeezes Small Brokers, Many Go Independent In this brutal market, many advisors are taking payout cuts or being let go. But many of these advisors are finding homes at independent and regional b/ds and RIA firms.  |
Registered Rep. September 17, 2010 Mindy Diamond |
Five Reasons You Won't Get Hired While hiring managers are still primarily interested in a financial advisor's production and client assets, gone are the days when firms look solely at these criteria.  |
Registered Rep. March 26, 2009 Halah Touryalai |
Trailing 12? Try Trailing Three. Recruiting Bonuses Cool Down. You know times are tough when recruiting deals are dropping across the board at major b/ds.  |
Registered Rep. June 28, 2013 Diana Britton |
60 seconds with Scott Collins We asked the Director of Advisor Transitions for TD Ameritrade Institutional what can we expect to change in advisor recruiting going forward?  |
Registered Rep. April 18, 2012 Diana Britton |
Tiburon's Roame: Less of a Breakaway Trend, More of a `Broken-Away' Trend Whether you agree with him or not, Chip Roame, managing principal of Tiburon Strategic Advisors, is not afraid to tell you exactly how he sees it when it comes to the financial services industry.  |
On Wall Street December 1, 2010 Frances A. McMorris |
Broker Pay: The Next Regulatory Target? The federal agency's chairman, Mary Schapiro, said she wants to see rules that encourage "compensation programs that incentivize the right kind of behavior and conduct on the part of the industry," as opposed to short-term risk-taking.  |
Registered Rep. September 4, 2013 Megan Leonhardt |
The Golden Handcuffs Come Off This year was arguably the best time to snag free-agent advisors from the wirehouses, with 21 percent of the big four firms' retention packages expiring, according to data compiled by Cerulli Associates in IMCA's quarterly research report.  |
Registered Rep. October 8, 2010 Kristen French |
Wells Fargo Advisors Hikes Recruiting Bonuses 100 bps In the next couple of months, major Wall Street brokers may be giving Wells Fargo Advisors a closer look.  |
On Wall Street August 1, 2010 Carri Degenhardt-Burke |
Tough Career Paths Changing jobs is harder than ever in the finance industry, but you're not the only one feeling the burden.  |
On Wall Street April 1, 2012 Carri Degenhardt-Burke |
The Elusive Manager The non-communicating, non-responsive manager is a detriment to the financial advisor and recruiter alike.  |
Registered Rep. January 7, 2011 Kristen French |
Will the SEC Curtail Recruiting Bonuses? With brokerage revenues getting squeezed and regulators sniffing around compensation issues and potential conflicts of interest, it's possible that 2011 could bring some changes to broker comp plans.  |
On Wall Street December 1, 2009 Carri Degenhardt-Burke |
The Window of Opportunity Is Opening Again -- So Jump! While the last couple of years have been incredibly good for advisor recruiting, the game isn't over yet. A much needed slump over the summer has created still more opportunity for you. But don't wait too long, as the recruiting tides will be changing again.  |
Registered Rep. October 1, 2004 Nick Ferber |
Sunny Days In the interest of arming financial advisors with all they need to assess broker acquisition packages, here is a guide to deciding when it is mathematically justified to make a change.  |
Registered Rep. December 16, 2009 Halah Touryalai |
Wirehouse Switching Slows in Second Half of 2009 In November, just 177 advisors in the wirehouse channel switched firms, the smallest monthly number all year, according to Discovery Database.  |
On Wall Street November 1, 2008 Helen Kearney |
Headhunters Weigh in on Advisor Mobility The wealth management landscape has been reshaped, and advisors are contemplating their future.  |
Registered Rep. February 23, 2010 Halah Touryalai |
Clients, The New Breakaways First, there was the breakaway broker phenomenon; now, it seems, we have a growing vogue of breakaway clients -- former wirehouse investors who ditch their old advisors for new ones at independent RIAs or broker/dealers.  |
Registered Rep. October 24, 2008 John Churchill |
Merrill Retention Is Adequate for Top Dogs, Scanty for Lower-Tier Producers The long-awaited Merrill Lynch retention package has arrived. Not surprisingly, top producers will probably be pleased, but others may not.  |
On Wall Street March 1, 2012 Bill Willis |
Creating A Generation of Deal Junkies The market meltdown of 2008 and mergers of financial firms that followed are beginning to feel like a distant memory. What remains in the present are the retention bonuses paid to a substantial portion of the financial advisor population.  |
Registered Rep. November 14, 2008 |
Update: 6,200 Merrill FAs Sign BofA Retention At Deadline Merrill says that only about half of the firm's nearly 17,000 advisors were eligible in the first place, and that they are responsible for about 75 percent of the firm's production.  |
On Wall Street February 1, 2013 Matt Greenslade |
Competition for Talent in Wealth Industry Stays Strong It s an advisor s market, as firms with diverse practice models strive to nab top talent.  |
Registered Rep. May 27, 2015 Megan Leonhardt |
Can Deferred Pay Buy Long-Term Loyalty? With the level of retention deals falling, firms are turning more to deferred compensation as a means to keep advisors in their seats. But is it a short-sighted solution?  |
Registered Rep. June 1, 2008 Mindy Diamond |
Flexing Your Trigger Finger If there is any lesson for advisors in the recent Bear Stearns implosion, it might be this: In times of market crisis it can't hurt to have an exit strategy planned. Many clients are now asking advisors what their exit strategy is.  |
Registered Rep. October 1, 2004 David A. Gaffen |
Are Forgivable Loans Next? Amid other industry-wide investigations by regulators, forgivable loans, or signing bonuses used to entice successful reps to leave one brokerage house for another, are now being scrutinized.  |