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RJ & Makay is North America’s top recruiting and human capital consulting firm exclusively devoted to the financial services industry. We have more than 100 financial industry recruiting specialists contracted with us providing “human capital for the capital markets.” RJ & Makay works on a retainer basis but does selected contingency and contract work, as well.
About half of the financial services firms in the Fortune Top 100 utilize RJ & Makay for their recruiting needs. We represent top tier boutiques and highly respected mid-size and large firms as well.
Be sure to check out our blog , for the latest analysis of news and trends in the Financial Services Industry. |
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Financial Advisor recruiting has seen a boom over the last two years. Will the boom continue or has Financial Advisor (FA) recruiting stabilized?
In the 15 month period from August 2008 to Nov 2009 there were 11,875 wirehouse reps and 1687 regional firm reps who switched firms. Wirehouse reps are Financial Advisors from either Morgan Stanley Smith Barney, UBS, Merrill Lynch/BofA and Wachovia/Wells Fargo.
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The unemployment rate dropped from 10.2% to 10% for November. Economist thought that the rate would maintain 10.2% for November so the news I’m reading is overly positive about the .2% drop. Most of these same economist however thought the unemployment rate would peak at 10.2% in February of 2010 but we saw that number 4 months earlier in October of this year. So forgive me if I am cautiously optimistic.
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The Competition Principle is a formal title I gave to what I believe to be a fundamental truth. The Competition Principle simply states, “There are others more qualified or talented than you who want what you want.” To make this principle specific to jobseekers I have defined the tenet as the Jobseeker Competition Principle. The Jobseeker Competition Principle states: “There are others more qualified or talented than you who want the same job you want.”
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About a week ago I read an article in the New York Post entitled “Merrill Flinch: Retail banking push meets broker resistance.” I’ve read similar articles in Registered Rep and so on. Anyone could have (and many did) predict that this and more would happen. This is one of many instances where completely opposite and conflicting corporate cultures are going to clash.
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On October 9th I posted a blog about how it might take 4 years to get unemployment back to normal. I referred to a Wall Street Journal survey of 48 economists which shows that on average these economist believed that the official unemployment rate would peak at 10.2% in February of 2010. They were half right.
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