Today’s up-and-coming financial advisors want more than a paycheck, and smart teams know how to use this fact to their advantage.
It’s no secret that there’s a talent shortage in the independent advisory industry. And this shortage is hitting the smaller advisory firms harder than their larger counterparts.
What’s behind this hiring imbalance? With the competition for young advisors driving up starting salaries, smaller firms with fewer resources find themselves at a significant disadvantage.
To help my smaller client firms compete for the young advisors, I make two recommendations: