Why Advisors Contemplating A Move Should Be Working With Us

Roughly 4.5% of financial advisors change firms and/or channel every year. However, most firms now base their offers on multiple metrics that are not limited to just trailing twelve-month (T-12) production or AUM.

"I've been in the industry a long time and know most of the managers in the area."

There are a number of very good opportunities out there with which even experienced advisors are not very familiar. For example, a survey done in 2021 revealed that over 75% of traditional advisors admitted that they still did not fully even understand what a Registered Investment Advisor (RIA) is, yet nearly 20% of moves in 2021 were to that channel.

Can you go it alone?

Of course, just like any investor can also try to design his/her own investment portfolio without a professional advisor. It’s possible, but similarly not advisable.

Internal vs. External...Know with whom you are dealing.

Talking to an internal recruiter is analogous to going to a car lot to purchase a car and being able to only look at one particular make, because they can only present opportunities from the firm that employs them. Millennium is an external recruiting firm, meaning we represent a multitude of firms spanning several channels and are able to knowledgeably discuss the pros and cons of each.

What is the Cost?

Our fee is usually paid by the firms that we work with to help them hire experienced financial advisors with transportable books of business. However, be sure to call us before you start having substantive conversations with hiring managers or other recruiters about firms in which you may have an interest if you wish to take advantage of our services at no cost to you.

The Bottom Line

Athletes, entertainers and top executives hire agents to represent them for a reason. For financial professionals, you want to have an experienced advocate in your corner who can help you identify, evaluate and select the right option to advance your career to the next level.

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