9 top recruiters who have moved wealth teams managing billions that financial advisers should know right now

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Amid a wave of activity across the industry, Business Insider has identified nine prolific and well-connected US-based recruiters focused on financial advisers. 
Advisers’ moves in the wealth management industry haven’t slowed since the coronavirus pandemic spurred mass remote work and market volatility; recruiters and consultants say it’s just the opposite. 
“When you look at the numbers, it’s really during tougher times that we see the most movement,” one San Diego, California-based recruiter told us. 
The list includes recruiters that have helped adviser teams managing hundreds of millions in client assets move from wirehouses like UBS and Wells Fargo as well as big moves across independent shops.

Visit Business Insider’s homepage for more stories.

Within the wealth management industry, tracking the many financial advisers zig-zagging across the industry from firm to firm comes with the territory. 

After all, the largest wealth managers have thousands of wealth managers with longtime clients, and the force of so-called independent advisers unattached to big banks and launching their own practices is growing. 

The pace of advisers uprooting their practices hasn’t slowed during the pandemic and the mass remote work it’s introduced. Recruiters tell Business Insider they’ve seen a huge uptick in activity this year. 

“When you look at the numbers, it’s really during tougher times that we see the most movement,” said Jodie Papike, the president of Cross-Search, a San Diego, California-based adviser recruitment and executive search firm. 

“When things are great, you don’t notice it as much,” she said. “Any kind of change or shake-up creates situations where financial advisers want to know what their options are.” 

According to a recent TD Ameritrade survey of 120 brokers, 40% said they were more likely to breakaway than they would have been six months ago before the pandemic hit. 

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With the flurry of adviser movement, Business Insider has identified nine well-connected financial adviser recruiters and consultants who are active in the industry and have worked with advisers through the pandemic.

Over the last few months, recruiters on this list have moved an ex-UBS team overseeing $1.2 billion in client assets to launch their own firm; a $540 million team to independent broker-dealer LPL Financial; and a team overseeing $700 million in assets who left for Wells Fargo Advisors in Canonsburg, Pennsylvania.

Read more: Wealth managers could save millions in costs from a snappier recruitment process. An analyst lays out the 3 firms that could benefit most.

Our first-ever list highlighting adviser-focused recruiters does not include in-house recruiters at wealth management firms, but rather outside executives who work with multiple firms at once. Recruiters were recommended to Business Insider by industry sources across the wirehouse and independent wealth channels.

Here are the financial US-based adviser recruiters we’ve identified. 

SEE ALSO: Wealth managers could save millions in costs from a snappier recruitment process. An analyst lays out the 3 firms that could benefit most.

Casey Knight, ESP Financial Search at Encore Search Partners

Casey Knight cut his teeth in the adviser recruitment space as so many do: making cold calls to hundreds of wealth managers in the hope someone felt the urge …read more

Source:: Business Insider

      

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