Recruiting in a Market Meltdown: Have the Rules Changed?

Wealth Solutions Report | Julius Buchanan

June 3, 2022

Independent Firms Across Business Models See Pros, Cons to Financial Advisor Recruiting During Turbulent Times – With Recruiting Automation Tools Reshaping the Calculus


Industry orthodoxy holds that, when markets are plummeting, financial advisors tend to stay put rather than transition to a different firm.

The reason? Transitioning to a different firm requires repapering client accounts, which typically necessitates client authorization and a review of client accounts.

During a severe market downturn, this puts transitioning financial advisors in an unenviable position: They not only need to pitch their clients on why this move makes sense – even if there is logistical disruption involved – they also need to discuss portfolio performance at a time when returns are far from spectacular.

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