New Details On Fiduciary Standard Prompt Wirehouses To Freeze Recruiting Deals


Wirehouses have put the kibosh on their aggressive recruiting efforts, at least temporarily, as details from the newly adopted fiduciary rule dribble out.

In response to information published just before the election, major wirehouses halted the flow of offers – even withdrawing nearly done deals – to avoid even the possibility of locking horns with regulators.

What exactly happened? Read my Seeking Alpha article.

Photo: Kamil Dziedzina

About Mark Elzweig

I am an executive search recruiter with an inside track on financial advisors, the asset management industry, and Wall Street. My work has appeared in numerous publications including On Wall Street,AdvisorOne, and Fund Fire. Journalists regularly seek me out, so you catch my bon mots in The Wall Street Journal, Research Magazine, Reuters, and more. You can follow me on Twitter @elzweig or you can reach me directly at 212-685-7070 or
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