3 Ways to Attract and Retain Talented Advisors | ThinkAdvisor by Sabrina Bachai

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Good employees are the bread and butter of a successful advisory firm, and Schwab Advisor Services finds three main ways to attract those type of employees. For Schwab’s 2014 RIA benchmarking study, 900 firms, representing nearly 8,000 jobs across 21 roles typically found at RIA firms were surveyed, according to a statement.

The ways to attract top talent are linking compensation to performance goals, including additional compensation beyond a base salary, and expanding equity partners.

“We know from this year’s Benchmarking Study that more than one-third of participating firms doubled their assets under management (AUM) and revenues since 2009, which shows remarkable growth and illustrates the strength and maturation of the RIA model,” said Nick Georgis, vice president, Schwab Advisor Services, in a statement.

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