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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Discovery

Is Financial Advisor recruiting stabilizing?

Posted by Darin Manis on Jan 25, 2010

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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.