A number of independent broker dealers have been inspired by the tremendous growth that LPL has achieved as a direct result of their expansive recruiting initiatives nationally. In fact many firms are now mirroring this same model of regional representation of recruiters. Today, the recruiting department at LPL includes, 20+ Regional Directors, 5 regionally-based Institutional/Masters Recruiters, 1 SVP- Sales Manager for the Masters team, 1 SVP- Sales Manager for the Core team, 4 SVP- Regional Sales Managers and 1 Head of National Recruiting. The field team is also supported by a proactive internal recruiting team based in San Diego.
The role of the Regional Director is to represent the LPL platform of services to the entire broker-dealer community. The ultimate goal of all directors is to recruit new producers/brokers into the firm. Primary focus is targeting advisors producing up to $1 million in GDC with a minimum requirement of $125K in GDC or more than $10Million in management in a fee based platform. All prospects currently producing in excess of $1.2 million in GDC will be handled directly by the firms Institutional/Masters Recruiting team.
LPL has had success recruiting high quality wirehouse advisors, independent reps, insurance producers and bank reps. Extensive phone work is instrumental for the success of a Regional Director, therefore the ability to effectively articulate over the telephone is of critical importance. Travel time will depend a great deal on the individual situation and will vary based on the recruit, but anticipated travel should be 50% of the time (minimal overnight trips if the candidate resides in the region since the territories are extremely small). The team will appraise and select those registered reps that meet LPL’s requirements/standards. These recruits will be brought into one of the home offices for a walk through of the headquarters to convince those individuals to select LPL as their broker-dealer.
On average, a Regional Director will be expected to recruit about 20 reps in the first year and between 40 and 50 in their second year with the firm.
The appropriate candidate could come from several backgrounds as this is a position that requires a specific skill set rather than an “exact science” resume. Possible backgrounds may include:
- Existing broker-dealer recruiter
- Wirehouse financial advisor
- External wholesaler
Strong understanding and passion for the financial industry and financial planning process overall, effective prospecting skills, upbeat personality, polished professional demeanor, strong verbal communication and relationship building skills.
We are looking for a person located in the states of LA, OK, AR, or MS or that has managed these territories
We offer a competitive salary and benefits package. Please login or create an account to apply to this position. Principals only. EOE
LPL Financial Services - 12 months ago