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Branch Level Recruiting Wins

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There’s an ongoing race to find Financial Advisor talent right now!  Recently, David Testerman, Managing Partner of BROKERHUNTER, spoke about the perishing number of Financial Advisors. Testerman revealed that research is showing that there are only about 315,000 Financial Advisors nationally. And there are over 161,000 Securities Branch offices in the U.S. competing for this very finite pool of Financial Advisors.  Testerman shared that only 5% of Advisors are under the age of 30 and more than half are over age 50.  This unbalanced gap is not being overcome as Tyler Cloherty of Cerulli Associates, Inc. explains, “The continual aging of the industry is not being offset by the influx of new talent.  The wirehouses are starting to train people again, but it’s not enough to make up for the number of advisors retiring and leaving the industry.”

Testerman explained that the war on talent is ultimately going to be won on a branch level.  He stated that today there are 5 obstacles to local branch office recruiting:

  • Shrinking Industry Headcount
  • Technology Shift
  • Increased Cost of Recruiting
  • Fierce Competition
  • Lack of Training

In order for Branches to compete and overcome those obstacles, Testerman outlined the three cornerstones of Branch Recruiting: Referrals, Networking and Advertising.  By identifying where your branch is and what it needs to recruit properly, you can increase your chances of finding talent.

However, if you are looking for the most qualified and skilled talent, then you will need to seek the passive candidate.  Passive candidate’s make up 90% of the candidate pool.  They are the advisors that are not actively looking for a new role or company.  These candidates are harder to convince and even harder to find.  Testerman admitted, “that no one likes to recruit alone”.  Branch managers need assitance in launching full recruitment plans.  BROKERHUNTER specializes in connecting financial services companies and financial talent together-it’s what they’ve done and perfected for over 15 years.

Testerman, Managing Partner of BROKERHUNTER, announced the launch of the 2015 BranchPAC 300 Project.  This project empowers branch’s, just like yours, to recruit encompassing the three cornerstones of recruiting and the opportunity to ”own your market”, as well as access to creative services and local webinar’s.  BranchPAC 300 Project is limited to just 300 branches nationwide.  We are limiting the number of branches to better serve and direct your recruiting campaign in your local area. Please visit our current map to see if availability still exist in your area.

The post Branch Level Recruiting Wins appeared first on BROKERHUNTER.


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