Is Your Platform Competitive for Advisor Recruiting & Retention?
How to Maintain Advisor Satisfaction?
Retaining advisors comes down to more than just compensation.
According to our research, 16% of all financial advisors identify as unlikely to, or undecided about, remaining affiliated with their current firm during the next 12 months.
While economics is a top factor for changing affiliations, it’s not the only one. Technology tools and the level of autonomy a firm allows its advisors, in terms of how their run their practices, are also critical to their decision-making process.
Wirehouse Likelihood to Remain Affiliated, 2020
Source: Cerulli Associates, in partnership with the Investments & Wealth Institute and the Financial Planning Association® (FPA®)
Firms in the wirehouse channel have been increasingly changing tack by placing greater emphasis on increasing advisor retention, and organic growth, while focusing less on paid advisor recruitment. Meanwhile, national and regional B/Ds have not hesitated to capitalize on the recruitment vacuum that has been created, while the capabilities and platform offerings within the RIA channel continue to expand.
Learn more about how we can help you.
Cerulli can help you benchmark your service offering, understand emerging trends in technology adoption, and help you address gaps in your offerings.
Subject Matter Experts
Michael Rose, MST
Michael is a director within Cerulli’s Wealth Management practice, where he researches key elements of the wealth management industry, with an emphasis on broker/dealers and wealth management technology. In this capacity, he regularly engages with constituents across the wealth management ecosystem, including retail investors, financial advisors, and executives within wealth management, asset management, and technology firms, in order to support Cerulli’s market research initiatives.
Prior to joining Cerulli, Michael spent eight years working as a financial advisor, providing comprehensive wealth management services to high-net-worth individuals and families. Prior to his role as a financial advisor, Michael served as a research analyst for IDC, where he was responsible for researching trends within the technology industry and advising senior business executives on product strategy.
Full biography here.
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.
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