Guess Who's Hiring Again…

Brokerage and financial advisory firms are back and ready to hire employees according to a recent Fidelity Investments survey.

This makes sense as these firms are all “billing off a higher base” in light of the stock market’s 100% advance over the last 25 months.

Here’s FA Magazine:

Despite national unemployment inching back up to 9 percent, about 75 percent of U.S. broker-dealer and independent registered investment advisory firms say they are  planning to hire up to 30 percent more employees over the next 12 months, according to a new survey by Fidelity.

One caveat – a lot of this “hiring” is really just a shuffling of reps from one firm to another…

Conducted by Fidelity Investments at its 13th Annual Executive Forum earlier this month, the survey indicates that the first staffing priority of firm executives this year is to recruit new advisors and brokers who have existing books of business. Nineteen percent of executives polled plan to help existing staff to transition to a broker or advisor role.

Anecdotally I am hearing about new training program initiatives at the Merrills and the Morgans.  It’s a buyers market out there for college grads with an interest in Wall Street.  Many of the grads from 2009 and 2010, who would have been unobtainable by wealth management versus banking or trading, are now more receptive to becoming advisors.  The wirehouses should strike while they can.

Source:

B-Ds, RIAs Ready To Boost Hiring, Survey Says (Financial Advisor)

Tags: , , ,

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. click here commented on Sep 21

    … [Trackback]

    […] Here you will find 63047 more Info on that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  2. immediate edge commented on Oct 01

    … [Trackback]

    […] Here you will find 21246 more Information on that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  3. blazing trader commented on Oct 04

    … [Trackback]

    […] There you can find 61866 more Info on that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  4. Digital Transformation technologies commented on Nov 18

    … [Trackback]

    […] Here you can find 59292 additional Information to that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  5. diamond art kits commented on Dec 17

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  6. 안전공원 commented on Dec 24

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]

  7. breitling replica watches commented on Jan 07

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2011/05/24/guess-whos-hiring-again/ […]