Across the industry, planning firms are scrambling to find new talent. Since experienced advisors are hard to attract and often command big pay packages, many firms are shifting their recruiting efforts to focus on younger advisors, with few (if any) existing clients.
But that strategy has challenges of its own. Although few senior advisors say they expect new hires to generate 100% of their business from the outset, they need to have junior advisors contribute meaningfully early on.
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