Statistics Related to Broker Recruiting Are Encouraging

Posted on December 5th, 2013 at 2:00 PM

According to Mark Elzweig, a broker recruiter, advisors “are still in the driver’s seat.”  Here is what he says, as of the end of October, to justify that conclusion:


  • Wirehouse firms are paying upfront money of 100% to 150% Trailing-12. The total package provided ranges from 200% to 300%, with the length of the forgivable loan (promissory note) being 9 to10 years. At most wirehouses, the welcome mat comes out at $500,000 in gross production.


  • High end boutiques pay upfront money of 100% to 125%. The total package provided is from 125% to 200%, with the length of the forgivable loan being 7 to 9 years.


  • Regional firms pay upfront money of 80% to 100%. The total package provided by them is from 80% to 200%, with the length of the forgivable loan being 7 to 9 years.  Mark Elzweig reports that the $300,000 plus producer will find a comfortable home here.


  • Independent firms pay 10% to 60% upfront and offer 120% total packages with the length of the forgivable loan being 3 to 8 years. 

Related Attorneys: James J. Eccleston


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