Avior Executive Search Thoughts, Comments,
Most Pressing Search Assignments, and Happenings
Hello everyone! I apologize for missing the writing of our monthly newsletter for the past few months; I promise to be more diligent and honor the resolution I made for 2022. There is a lot going on in the world right now, both in the wealth industry as well as surrounding the sobering events unfolding in Ukraine. On a lighter note, I want to acknowledge that in May we welcome the nicer weather, especially for us that are based on the east coast. Also, I want to wish everyone a Happy Mother’s Day and send a big congratulations to those graduating this month as well.
On February 5th, I celebrated my 33rd year in the executive search industry, the arena in which I have chosen to “steer myself”. It’s amazing to look back at my beginnings when there was no email, Instagram, Twitter, or LinkedIn. The available avenues of communication since I started have increased greatly; so many things have changed but, in many ways, so many things have stayed the same. The opportunities to share information with a wider group of individuals seem endless; however, I still prefer good, old-fashioned one-to-one contact.
One of the reasons that I was unable to write a newsletter the past few months is that we have been a bit overwhelmed with engaged assignments and some system implementations to keep pace, or at least try to.
What we have seen during the first quarter is the continued growth we experienced last year – and it has gotten even hotter. The hunt for talent, as well as for individuals and teams looking for their next step, is alive and well. This reflects the great resignation we are seeing in the job market in general. Now more than ever, it is not just a sellers’ market for those specifically involved in asset gathering/revenue generation and client retention. Several clients with whom we work with are finally realizing that they can no longer take their time during a search process. In a way, it mirrors the competition within the housing and car sales markets; both are seeing a shortage of inventory and, as a result, demand is overwhelming, and consumers are making purchases as quickly as possible. This immediate response in sales coupled with ever-increasing inflation not only indicates an uptick in compensation and bonus levels, but also demonstrates the need for firms to present a compelling plan to attract and retain talent. We are seeing two of the most prestigious brands in the wealth industry – Citibank and JP Morgan -struggle in their efforts to retain talent. For private bankers, they now realize that the RIA and multifamily office platform can offer a truly holistic platform for their clients; in short, the bloom is off the rose as far as only focusing on big, brand-named banks. To be fair, there will always be a segment of clients that will want to bank with brand names. However, compared to just 5 years ago, we have seen a 45% increase in our clientele of RIA’s/ MFO’s. Numbers don’t lie. Alan Goldstein President, Avior Search
FOR IMMEDIATE RELEASE:
President of Avior Executive Search– A member of the Sanford Rose Associates® network of offices, Alan Goldstein, Featured in Citywire, Recruitment Wars: How RIAs Are Shaking Up the Battle For Miami’s Advisor Talent
Plano, TX 2/15/2022
Miami’s international wealth management market has been a hotbed of recruitment activity over the past year. While a good part of this activity was driven by Wells Fargo’s exit from the international advisory industry, the hiring frenzy highlighted a growing trend of advisors in Miami opting to join RIAs over wirehouses. However, trading off a salary and full employment benefits for partnership in a firm presents some inherent level of risk, according to Alan Goldstein, president of Avior Executive Search, who pointed out that consolidation in the RIA space could present issues. Read full article here.
Staffing Struggles Continue for Wealth Management Industry Hiring the right employees and retaining talent has become a struggle for many industries around the world. The wealth management industry is no exception to this change. The receding line of staff members at your bank, private, or public company is a signal that things need to change and they need to change fast. Read More
How Thinking Differently Can Help Banks Attract and Retain the Best Talent The workplace culture that baby boomers grew up with is slowly fading away. Millennials and Generation Z are challenging existing employee rights, and are demanding better working conditions, higher paychecks, and health benefits. Banks are notorious for maintaining a “bureaucratic” and “highly corporate” work culture.Read More
Our client is a niche multi-family office catering to the mega wealthy UHNW clientele on a global scale.
The location of your current clientele is irrelevant, the relevancy is that YOU must be the trusted advisor of the relationship to the clients that you serve. This is truly a unique opportunity, and you must come from a tier 1 private bank, RIA, or Family Office.
Location:Global Locations – Monaco, London, New York, Zurich, Singapore
The principal role of the Senior Relationship Manager is to develop new clients by cultivating their personal and professional networks and leveraging relationships with centers of influence (COI’s). In addition, the position also is responsible for maintaining close, ongoing relationships with existing clients.
The SRM works closely with HNW/UHNW clients with complex investment needs. Most successful advisors tend to focus their practices around their passions and as a result work with entrepreneurs, business owners, nonprofit organizations, professional athletes, global families, artists, and collectors
Proven ability to build and maintain relationships with centers of influence such as attorneys, accountants, and business advisors
Experience advising and being regarded as a trusted advisor, not only with financial decisions but for meaningful life and business decisions
A minimum of seven years of relevant work experience in finance, legal/trust, real estate, philanthropy, fundraising, auction/fine art, entertainment, sales, entrepreneurship, or private wealth management
Location: Nationwide – New York, Philadelphia, Washington, Boston, Atlanta, Miami, Cleveland, Minneapolis, Dallas, Denver, Houston, Los Angeles, Nashville, San Diego & San Francisco
Avior Executive Search is a professional recruiting firm specializing in the wealth management industry globally. We have built a proud reputation based on our search process and market knowledge and have an unmatched network with extensive search experience in the United States, Canada, Latin America, Europe, and Middle East global wealth management industry.