Recruiting

A former craft brewer and an ex-rugby star went indie with Gladstone Financial Resources Group.

One defecting advisor says she was lured by better technology and because at her new employer, “It’s about the people and not just the numbers.”

The firm’s diminished ranks are a sign of huge changes in the wirehouse world since the financial crisis ended.

“We didn’t need to physically travel to see that RBC was the ideal place to move our practice,” ex-UBS advisor says.

“I’d say independence is resonating with advisors now more than ever,” says recruiter Jodie Papike.

While CEO Jamie Price says tech capabilities rather than cost savings prompted the decision, he acknowledges the need to win over the reps who are now set to change firms.

Recruiting is likely to accelerate as the pandemic abates, writes Mark Elzweig.

The IBD network had been preparing for disruption, CEO Adam Antoniades says, and it has the financial flexibility it needs to boost financial advisors’ practices.

The firm has recruited at least 22 advisors this year who managed $3.3 billion in client assets.

In a still male-dominated industry, does the network help attract and keep more women at the firm? CEO Shirl Penney says yes and has the results to prove it.