2023 Advisor Recruitment Trends Show Vitality Amid Unexpected Obstacles
Macro Volatility And Regional Banking Crisis Add X-Factors To Otherwise Robust Financial Advisor Recruitment Landscape For RIAs And Broker-Dealers
Wealth Solutions Report 7/10/23 (Written by Larry Roth, Co-Founder of Ascentix)
Several notable trends in wealth management recruitment have emerged over the course of the past year, a couple of which were quite unexpected. The good news is that industry recruitments have exhibited healthy signs despite various macro headwinds.
In the aftermath of the rapid-fire failures in March of the regional Silicon Valley Bank and Signature Bank in the U.S., and the bailout of much larger global bank Credit Suisse by the Swiss National Bank, First Republic Bank experienced massive deposit outflows and ultimately the U.S. government seized First Republic and sold it to JPMorgan Chase.