Who & Where Hiring is Aggressive

November 2, 2012

Who & Where Hiring is Aggressive

Wealth Management continues to be one of the only bright spots in the recruiting world.  It’s easy to understand why.  Where else in Financial Services do you have cash flow from production, sticky assets and a loyal following to the person v. the institution?  If there was another area as strong we would be recruiting in it. 

We speculated that the large incentive packages to trade away would eventually stall out in light of the Basel Accords and increased scrutiny from US regulators but it’s just not happening.  Wirehouse firms are still marketing 300-330% deals with terms ranging from 7-9+ years with evergreen clauses for bogeys & asset migration.  The boutique firms, smaller in size, but no less adept at UHNW management are offering modified terms but can end up in the same altitude of pay-outs.

Candidates continue to keep us in the loop on who’s paying what and terms of deals throughout the US, EMEAsia & LatAm.  We are seeing a trend of lower payouts when a search firm is not involved (I know that reeks of a certain bias . . . but it’s what we’re hearing)

As we preach to clients & candidates willing to listen – the incentive packages are never the only reason to trade away.  Feel free to reach out and dialogue with me about why your specific situation is best for your clients and you in the long run. 

scott@elevationsearch.com

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