The Premium RIAs Will Have To Pay To Attract Financial Advisor Talent
Registered investment advisors (RIAs) are hiring, according to a new study from Charles Schwab and the firms with the best value proposition for their employees' compensation have the edge. Recruiting new staff emerged in the study as the top strategic priority among more than 900 advisory firms for the first time ever in the custodian's annual survey. The struggle for attracting and retaining the best talent among RIAs has ramped up, with compensation as a key aspect figuring in the industry's expected need to hire more than 70,000 new staff members over the next five years, according to Schwab. That estimate does not include the impact from attrition, retirements or the launch of new firms.
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