Mindy Diamond Quoted
If you haven’t had to fill any vacancies in a while, your next job posting may bring a rude awakening. Recruiting and hiring experienced client-facing advisors has become very difficult, with demand high and supply low, say a number of executive search specialists.
Although the job market for all advisors is robust, the talent shortage among firms catering to extremely wealthy clients is particularly acute. That’s good news for advisors, but a problem for firms hoping to expand…
Advisors serving less-affluent clients can also bargain from a position of strength, says Mindy Diamond, CEO of Diamond Consultants in Chester, N.J.
“If someone generates $700,000 in revenue and has $100 million in assets, their transition package won’t be as large,” Diamond says. “But it’s still a seller’s market for them. There isn’t a firm around who wouldn’t want to hire that person if their assets are growing, their compliance record is clean and they are a quality individual,” she adds.