Demographics have led to desperation, and the next steps on that path have been towards the rich recruiting bonuses offered by wirehouses to productive advisors. Those tempting payments arent going away, but further improvements are highly unlikely, according to Mark Elzweig, who heads a New York-based executive search firm focusing on the asset management community.
The recruiting deal rubber band has been stretched out as far as it's going to go, he told On Wall Street. The reason, ironically, circles back to advisor demographics.
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