Will Advisors Accept Restructured ‘Post’ Fiduciary Recruiting Packages?

StarbucksBronwynQuilliam

Branch managers and recruiters at the wirehouses have an unexpected challenge this year: They need to convince financial advisers to change firms and take less in compensation than they would have received just a few months ago.

Thanks to the Department of Labor’s fiduciary rule, recruiting packages have dropped to 250% of commissions from 300% last year. When you’re talking seven-figure deals, that’s a lot of lettuce left behind in the fields.

How is this likely to play out? Read our On Wall Street article.

Photo: Bronwyn Quillian

 

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 elzweig@elzweig.com.
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