Recruiting costs rose 13.6% in 2011 according to FSI. What is driving this increase—and how can you avoid paying more than an advisor relationship may actually be worth?
Over the last five years, broker-dealers have poured tremendous resources and energy into recruitment. However, they have seen poor returns on that investment. The Broker-Dealer of the Future will avoid the winner's curse by developing a sound economic model that focuses on value-added services and targeting those financial advisors whom the broker-dealer believes it can best serve.
Stunning Transformation Four explores:
BNY Mellon’s Pershing and its affiliates provide a comprehensive network of global financial business solutions to advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody; investment, wealth and retirement solutions; technology and enterprise data management; trading services; prime brokerage and business consulting.
Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing approximately 7 million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company.