Recruiting Focus – Strategies, Successes And Latest News

Larry Roth, CEO, Wealth Solutions Report

Plus Bizarre Industry News, A Golden Age For Alts, Client Communication, Cybersecurity And The Latest In M&A, People Moves And Strategic Partnerships 

To My Fellow WSR Community Members:

Although we cover recruiting regularly in our Weekly Recruitment Roundup, with the Recruiter of the Month and in other articles and news, it will never fade in importance or attention. Recruiting is essential to the ecosystem of independent financial advice – without it independent advisors aren’t truly independent.

This week, we bring you recruiting results from two large enterprises and the messages those results send about recruiting strategy and diversity, equity and inclusion initiatives, and go in-depth with a recruiting leader to discuss her firm’s success. We also cover several recruiting moves plus other news on M&A, people moves and strategic partnerships in our latest monthly installment of Transitions, Transactions & Promotions.

In addition, we bring you the results of a survey on client communication, expert views on cybersecurity, a potential new golden age for alternatives and the latest in bewildering industry news.

This Week’s Issue

Here’s what we have on tap this week:

  • Which firm reported bringing on the most new assets in 2022? In our Newsmakers & Roundups section, Transitions, Transactions & Promotions covers major broker-dealer and multichannel wealth management firms reporting their full-year recruitment and M&A gains. We also recap three recent recruitment and M&A deals each, Goldman Sachs providing custody services for a newly launched RIA and the appointment of former Ladenburg Thalmann COO Adam Malamed as CEO of Sanctuary Wealth.
  • In a philosophical hodgepodge, our James Miller compares the fine art of the theater of the absurd to a monster truck rally, then compares both of those to the absurdity of this month’s bizarre industry stories on the NYSE’s disastrous glitch, a missing broker stealing from a now dead client, a hiring “raid” in rural Arkansas, “artificially intelligent” crypto, a broker turned terrorist and a generous lotto winner, all in our latest Bizarre Industry Bazaar column.
  • Just how important is client communication? In Upmarket, we speak with YCharts President and CEO Sean Brown about the company’s recent survey results on financial advisor-client relationships, which reveal high client attrition rates in the past few years and clients’ preference to hear more from advisors.
  • What does your firm need to be safe from cyberthieves? In the Digital Domain, we discuss cybersecurity needs including assessments, insurance, SEC compliance, vigilance and the zero-trust ecosystem in a Wealthtech Roundtable with Joel Bruckenstein, Publisher of the T3 Tech Hub and Producer of the T3 Advisor and Enterprise Conferences, Brian Hamburger, President and CEO of MarketCounsel and Chief Counsel of the Hamburger Law Firm, and Brian Edelman, CEO of FCI.
  • Are we entering a new paradigm for alts? In Investment Solutions & Gatekeepers, Steven Brod, CEO and CIO of Crystal Capital Partners, argues that the continued state of uncertainty in the world and markets, combined with the strength demonstrated by certain alts strategies in 2022, may lead to a new golden age for alts.

When is a number more than a number? In case you missed it, last week in Newsmakers & Roundups, Stifel Independent Advisors’ recruiting results for 2022 highlight the firm’s emphasis on diversity, equity and inclusion, while Commonwealth Financial Network’s numbers set a new firm record and demonstrate strength of the quality-over-volume recruiting strategy.  

Diversity in recruiting

We’re less than a month from the start of the T3 conference! You can get a head start by completing the T3/Inside Information annual survey, a very influential survey for the wealthtech space.

Please send your thoughts, ideas and questions from experts. 

Thank you for engaging with us on LinkedIn and forwarding our e-blasts to your friends!

Have a great week!


Larry Roth, CEO

Wealth Solutions Report

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