How do RIA retirement plan focused advisors feel about taking on new advisors to your firm? What do you look for in candidates? I’d like to get out of my corporate role, curious if this makes sense

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We have recently hired our second business development focused advisor in the past year and each will have distinct roles with one focused on new retirment plan clients and one on terminated participants and wealth management clients. Goals and objectives need to be delineated and progress meetings held on a regular basis. The delegation of these items has provided my partner and me with additional time to enhance service and meet with our COI's.

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They have a salary for 2 years plus fees / commissions. We will conaider extending the salary if all is going well.

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It depends on the role you want to fill. Are you wanting to be an Account Executive? Sales? For us it’s knowledge of the business, experience, licensing, understanding and appreciating our business model, etc.

I have a ton of institutional knowledge and consulting experience, just no sales background. Securities licensed. I’m wanting to punch my own ticket and wondering if it’s realistic to pursue joining existing firms, if firms like taking on advisors. How would someone like me approach an RIA?

If I were you, I would research RIAs in your area and find the one you want to work with. It sounds like you want to make your own way, so the risk is limited for them. If you can articulate your view of what you can do to help their company be more successful, you should have a good shot at getting hired. Feel free to message me directly if you need more assistance.

Look for an Alliance Benefit Group member firm in your area. Second largest retirement plan adviser with Schwab and 3rd largest with Fidelity, their two largest custodian partners. They are our pension partners to our large employee benefit agency. $70+ Billion under management. Search ABG National.

Are they salary or straight commission?

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