Credit unions looking to recruit advisors might want to try something thats becoming increasingly prevalent among banks: they should offer separate pay plans for junior and senior advisors and those who work in teams.
In a recent study, research firm Kehrer Bielan Research & Consulting found that financial institutions that offered multiple plans had a much easier time recruiting talent. Among credit unions with multiple pay plans, only one in three had trouble recruiting advisors, according to the research. Among those with a single pay plan, almost twice as many 63% found recruiting difficult.
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