A new Fidelity Investments survey finds three quarters of U.S. broker-dealer and independent RIA firms are planning to hire up to 30% more employees over the next 12 months. The poll was conducted at Fidelity’s 13th Annual Executive Forum client event held May 2-4.
According to the poll, firm executives reveal that their No. 1 staffing priority in 2011 is to recruit new advisors and brokers that have existing books of business (43%), followed by 19% who plan to mentor and help existing staff transition to a broker or advisor role.
Nearly one-third (32%) of broker-dealers and RIAs say that ongoing industry consolidation has made it easier to recruit, while 62% say it has had no impact.
“A strong focus on recruitment, especially as a component of a broader client acquisition strategy, is extremely good news for the industry and speaks to an overall confidence for its continued growth and success,” said Scott W. Dell’Orfano, executive vice president of sales with Fidelity Institutional Wealth Services, said in a statement.