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Investment Advisor, The Voice of Independents
Recruiting Wars: Freedom & Culture
“Greg Sauer of The Primary Group is in that same business. Speaking on a panel addressing the state of recruiting at the Fidelity Executive Forum in Scottsdale, Arizona, in April, Sauer said he had detected some major shifts in rep portability over the past five years. “Pre 9/11,” he said, referring to the reasons reps would change B/Ds, “it was all about the money.” Post-9/11, everyone stayed put, but now, Sauer sees more rep movement due to the perception that service might be better on the other side of the fence. Moreover, “human factors” are more important to reps these days, he argues, and maintaining a good quality of life is a key factor in their business decisions.”
Wall Street Letter: April 4, 2008
Quote of the Week
“People are lining up to go there once things get settled.” Greg Sauer, recruiter with The Primary Group, on brokers asking for jobs at JPMorgan-Bear because of the company’s strong balance sheet and combined platform.