How RIAs Can Recruit Top Candidates

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How RIAs Can Recruit Top Candidates

(New York)

RIA firms, especially smaller ones, have often had a big problem when recruiting new staff. That issue is that they have trouble matching the salary and payout figures that big wirehouses provide to top advisors. This makes senior hires very hard to come by, and fact which has at least partly hamstrung the admittedly strong growth of the sector. However, one RIA tried a new approach with a broker. Instead of offering him a fixed salary and production figure, he offered him a cut of the gross revenue the whole firm created, making him feel more like an owner.

FINSUM : This is an interesting WSJ anecdote, as the deal worked not by having the RIA try to match rivals in terms of payouts, but by offering a completely different structure.

  • RIAs
  • recruiting
  • wirehouses
  • commissions
  • revenue

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Wealth Management

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