Arrow Icon
blog header pale blue image blog header abstract shape

Heart of Advice

Insights and best practices for successful financial planning engagement

left arrow Back to All Articles

Recruiting Top Financial Advisors

Damon Thomas July 19, 2022

Advisor recruitment is always a priority for financial institutions and broker-dealers. Financial advisors are the lifeblood of these organizations. And whether you refer to them as “rainmakers” or top-producers, firms want to recruit—and also retain—this select talent that will help drive firm revenue.

Because each firm wants productive advisors that are compliant, efficient, and profitable, the competition is fierce. Exploring your firm’s competitive advantage can help guide your business development efforts to attract the top advisor talent that will grow your organization.

The Advisor Movement Pull

Financial professionals choose to change firms for many reasons. While it’s often a disruptive risk to switch firms or affiliations, top advisors will make the move if the reward is significant enough.

Whether it’s greater flexibility to serve clients the way they want, a new firm brand, or attractive economics, even advisors managing a billion dollars or more make these moves. According to Forbes, in 2021 alone there were over 30 such moves from top advisors managing in the billion-dollar plus range.1

Cerulli data of the broker-dealer marketplace shows that while compensation is a top factor, technology and autonomy are top considerations when advisors are evaluating a new firm.2

For organizations recruiting, having the right tech stack with planning capabilities could be an important pull. In particular this will attract advisors looking for greater flexibility to serve their clients more holistically and enhance their bottom line.

Understanding How Top-performing Advisors Work

Top advisors are nicknamed “the rainmaker” or “the face” because their responsibilities are often to bring in new opportunities and manage key relationships. They are competing to be a client’s one-stop shop for wealth management and financial planning. This is especially true as aging demographics are creating opportunities for generational wealth transfer.

Since they are so focused on growth and retention of assets in their practice, they concentrate on the high-touch, client-facing work. These advisors cannot afford to spend their time on back-end procedures, compliance, and day-to-day operations. In that way they need optimized systems, people, and processes to support them.

Outdated, legacy systems will not do. Top-producing advisors look for leading planning technology that will not only give their clients the best experience, but also help their people—or dedicated team—gain efficiency in planning and managing client assets.

How a Flexible Planning Platform Can Sell Your Recruits

As the core value proposition for advisors shifts from portfolio management to comprehensive wealth management, advisors evaluating your firm will want to know they are being set up to meet clients’ needs. And even further, they want to understand how they will be able to exceed clients’ expectations with a seamless digital experience.

The planning experience has benefitted from technology automating certain workflows and simplifying procedures—like account aggregation, document storage and delivery, and managing risk through oversight. Additional configuration and software integrations offered by your firm can have a significant impact in the efficiency of the platform. This serves both the advisor and the firm interests, as better information flow between systems will enhance business operations and client service.

Advisors want a robust solution that supports their clients’ planning needs appropriate to each stage of their financial lifecycles—from early accumulation through retirement. A planning platform that can do both goals-based planning and more advanced planning with estate techniques is especially beneficial for the multi-generational business advisors are keen to cultivate.

In 2021, eMoney conducted a survey with clients to capture the benefits advisors receive from financial planning technology:3

  • Enhanced client satisfaction (90 percent)
  • Improved client engagement (87 percent)
  • Increase in fees generated from additional products/services (82 percent)
  • Improved business process and efficiency (82 percent)

These results reveal how planning technology is helping financial professionals strengthen their value propositions to clients.

Find Your Competitive Edge with a Financial Planning Platform

Because technology is a key consideration for advisors moving firms, your organization needs to evaluate the tools you provide to your employees—your financial professionals.

High-performing advisors want to know they’ll have access to tools that will set them up for success. The resources they have access to are a critical component to running their practices and accelerating their growth. Firms that can marry talent with technology help to secure their own future.

To learn more about trends in advisor movement and the way forward for your firm’s talent and recruitment strategy, read our eBook Retaining Talent and Growing Your Enterprise with Financial Planning Technology.


Diamond, Mindy, “Mega-Moves: What’s Driving The Movement Of Advisors And Teams Managing A Billion Or More?” Forbes, 24 November, 2021.

2 The Cerulli Report, “U.S. Broker/Dealer Marketplace 2020: The Increasing Impact of Culture,” Cerulli Associates, October, 2020.

3 eMoney, ROI of eMoney Study, March 2021, n=238.

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

Image of Damon Thomas
About the Author

Damon Thomas, Senior Enterprise Sales Manager at eMoney, works closely with executives of leading enterprise financial services firms to help them strategically position their firms to grow revenue, increase efficiency, and attract top talent. Damon has 18+ years of experience as an External Wholesaler, Manager of Advisor Development and more recently Chief Business Development and Marketing Officer. Damon has successfully engaged hundreds of financial advisors, private bankers, institutional salespeople, and senior executives to identify wealth management technology and product solutions to create a sustainable platform for firm and financial advisor productivity and profitability.

You may also be interested in...

A financial advisor working on his computer.

Preparing Your Business for Subscription-based Financial Planning

Subscription-based services have proven to be successful and popular in a wide range of industries. While the assets under management… Read More

financial advisor and client looking at client portal

The Value of a Robust Client Portal in Financial Planning Relationships

A client portal is a client’s connection to their financial plan. It’s the technology that keeps them engaged in between… Read More


New Year’s Resolutions for Your Financial Planning Practice

The new year is a time when many people set personal goals, or resolutions, for ways they hope to improve… Read More

eBook: The New Advisor Value Proposition

Download our latest eBook and learn how top advisors are combining Fintech and FinPsych for superior client outcomes.

Download Now

Sign up to have the most popular Heart of Advice posts delivered to your inbox monthly.

Heart of Advice by eMoney Advisors

Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.