Recruiting Registered Rep's
Does anyone have any opinions on the best way to recruit rep’s?
Are you in management?The best way, is to get your existing brokers to make introductions, and tell the recruits how great you are. If they dont believe you are good enough for their referrals, then its just like prospecting clients - cold call every day.
Same thing as getting clients. Find their pain. We picked up an advisor from a bank because he couldn’t do brokered CD’s and his annuity commissions were cut. Coming to our independent firm was an easy decision for him.There have been a few advisors in my area that have left their wirehouse to go to a bank. They had a bunch of clients in the ARPs market and are getting their clients and other clients to come over saying they can get them out of the ARPs, although it might take some time depending on what's available in the auctions. Other than that, what do you have to offer?