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)

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/ […]

Read this next.