Banks having trouble attracting advisors neednt gripe so much about their recruitment woes: they can bring in junior brokers.
These aspiring or rookie advisors are increasingly being paired with senior advisors who mentor and groom them into hopefully high-producing advisors. In 2011, 5% of the advisors working in banks or credit unions were classified as junior brokers, up significantly from 3.6% in 2007, according to a new report from Cetera Financial Institutions and Kehrer Saltzman & Associates, a management consulting firm for the financial advice industry.
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