Independent broker-dealers are increasingly adopting full-service firm features to better support their 1099 advisor networks. Raymond James recently announced the launch of Talent Sourcing, a new home-office recruiting service aimed at assisting independent advisors with staffing needs.
AdvisorHub reports that the program will offer a pipeline of prospective hires, ranging from entry-level advisors to client support staff.
Raymond James' independent brokers already leverage the firm's home office for operational support, according to AdvisorHub. More than 100 of the firm's approximately 5,000 independent advisors currently use a team of 25 remote client assistants through a subscription-based program launched two years ago.
According to AdvisorHub, the newly launched service mirrors a broader trend among independent broker-dealers, which historically lured advisors with higher payouts in exchange for covering their overhead. To remain competitive in recruitment and retention, firms like Raymond James have expanded centralized, fee-based services such as marketing support, compliance resources, and now recruiting solutions.
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