November 17, 2022
Louis Diamond Quoted
by Miriam Rozen
Executives from regional firms to wirehouses have remarked on the frenzied pace of hiring this year, but all that firm hopping is about to cool off—at least for two weeks.
Thanks to the Financial Industry Regulatory Authority’s annual pause in registration around the December holidays, brokers who want to shift firms must make their move prior to December 22.
That’s when the brokerage industry regulator halts its registration systems to generate year-end renewal statements, a spokesperson explained. New registration requests for license requests and terminations will stop at 11 p.m. ET on the 22nd and resume January 3 in the new year, the spokesperson said.
For some brokers, shifting firms during the holidays is an unattractive burden, so they wouldn’t try even if Finra and a firm were open for business, according to Louis Diamond, a recruiter in New Jersey.
“Many advisors push transitions out past the holidays for their own personal reasons but that’s not driven by the firms,” Diamond said.
