The Changing Recruiting Landscape: An Inside Look with Cetera’s John Pierce
With 2022 in full swing, John Pierce, Cetera’s head of business development, shared his views about the changing recruiting landscape and the latest team to join Cetera in a wide-ranging interview with ThinkAdvisor.
“Because everyone is independent, it’s allowed all of us, including Cetera, to hire financial professionals from firms we maybe didn’t do before the pandemic,” he told ThinkAdvisor. “Last year was a transformational year for us in terms of hiring from the wirehouses and the super-regional” broker-dealers, he said. “We had an influx of Morgan Stanley, UBS, Merrill Lynch, Wells Fargo, Raymond James advisors joining us last year.”
Pierce also discussed how other factors, such as costs, are influencing advisors’ decisions about where they affiliate. “We see a trend of financial professionals that are smaller independents who are recognizing the regulatory costs are going up, supervision costs are going up. Smaller firms don’t have the ability to invest in technology like Cetera, or infrastructure,” he said.
Click here to read the article in ThinkAdvisor.
About Cetera Financial Group®
Cetera Financial Group (Cetera) is a leading financial advice firm. It empowers the delivery of an Advice-Centric Experience® to individuals, families and businesses across the country through independent financial advisors as well as trusted tax professionals and banks and credit unions. It’s headquartered at 200 N. Pacific Coast Highway, Suite 1200 El Segundo, CA 90245-5670.
Comprehensive services include: wealth management solutions, retirement plan solutions, advisory services, practice management support, innovative technology, marketing guidance, regulatory support, and market research.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities, Inc. All firms are members FINRA / SIPC.
Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
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