Recruiting efforts for experienced advisors remain aggressive despite expectations that the market would dampen transitions and competitive offers.
For example, Raymond James reportedly has remained at the top of the recruiting game, adding advisors to its Private Client Group, generating $300 million in twelve months at their prior firms and managing approximately $40 billion of client assets.
According to the company, Raymond James' Private Client Group grew by 235 in 2022 and by 18 advisors for the quarter. Raymond James' employee channel saw a 5% increase in headcount for the year, according to AdviosrHub.
On the other hand, Ameriprise Financial experienced a decrease in the number of experienced advisors on its roster. Ameriprise recruited 72 experienced advisors in the final months of 2022, down from the 86 it recruited in 2021.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
