If you are a financial advisor looking to grow your business, or if you are thinking of retirement and want to sell your practice, Cambridge Investment Research is launching a succession planning venture, under the name Continuity Partners Group, for 23 advisory firms in the Fairfield, Iowa broker-dealer network.

I note this because it’s an interesting concept ; not only will an advisory firm be able to take out a loan from Continuity in order to buy out another firm, but also a junior advisor can get funding to buy out a practice from a senior advisor.  Read more...

It appeared that the rush of hiring activity in the wire house world over the past few months had finally tumbled, or at least slowed down, but not the case for Smith Barney.

In early April they recruited a $3 million investment consultant team from Wachovia in Plano, Texas and now this past week alone they have picked up 10 financial advisors with $1.4 billion in assets. Not only is Wachovia on their list, but UBS and Merrill asset managers have been nabbed.

What’s behind all this? Well, maybe to save face after reporting in its first quarter results that it had lost $66 billion in client assets as well as 2,582 financial advisors over the past year. (Maybe their new owner is pushing this?)

Whatever the reason for the rush of financial advisor job hiring activity, they’re offering some pretty competitive packages. It’s a good idea to contact one of our recruitment consultants today if you’re looking for a job in finance.