“I can't thank you enough for your introduction and service to me during this process. I have looked at a number of brokerage opportunities and Summit seems to be the best fit for where I am right now and where I want to be in the future.
   If you need me for anything whatsoever, please feel free to call anytime (or email). Whenever I get back into the NYC area sometime, I will look you up and shake your hand, if that's okay with you.”

S. B., CFP, Smith Barney

“Thank you for working so hard for me.”

T. N., Raymond James

“Good work Rich. FYI, I am going to make you our “Firm of the Month” in our newsletter for this month. It will go out to over 60,000, so make sure your phone is turned on. :-). It should go out tomorrow!”

Steve Testerman
President of BrokerHunter.com

Opportunities
The grass isn’t always greener, but sometimes leaving your current firm and joining another can be just the change you need. Moving can be a way to re-energize your career, extricate yourself from an unpleasant work environment, increase your compensation, enjoy greater resources to help increase your success, cut your commuting time — or provide any number of other advantages that can make your life better.

The opportunities for qualified producers have never been greater. The search for top financial advisors from competing parts of the financial services industry is fueling the drive.

There are four distinct platforms that make up the choices you should consider:

National firms, often called wirehouses, offer name recognition and a full line of products and services and are all self clearing. Most offer very attractive transition packages to qualified candidates. The downside can be a lower payout structure, a more bureaucratic management team and the diminishing importance of even large producers.

Regional firms may not have a nationally recognized name but can be well known in the territory they serve, often better than some national competitors. This class of firm also offers a full line of products and services and a higher payout grid to its producers. Their transition packages are generally lower than the national firms but this can be more than made up over a five year period by the increase in payout you will receive.

Independent firms are an increasing force in the industry. Generally they offer a very high payout, usually 70% to 90% depending on production level and the amount of services you pay for. For those brokers who are organized and have a good size client base and who don’t need a normal branch environment, this is a platform to consider.

Bank brokerage platforms have grown dramatically in the past four years during the turbulent markets. Investors fled by droves to the perceived safety of banks and brokers have benefited by the trend. The payouts are now similar to the national firms but the transition deals are lower than the wirehouse firms. However, brokers do well with the assets the bank gives them to manage and the steady stream of new referrals.

Schwarzkopf Recruiting Services will review your options in each of the categories and will come up with suggestions that fit your business. You may decide to investigate more than one of the platforms.

Call me now for a personal review of your opportunities.