Human Capital
Solutions for the
Financial Sector
Introducing RJ & Makay
RJ & Makay is a human capital recruiting and consulting firm exclusively serving
the financial sector.
We serve RIAs, Practice Principals, broker dealers, custodians, banks, insurance
firms and other financial firms. We provide recruiting solutions for financial
advisors, executives, management and support professionals.
Established in 2004, RJ & Makay has become one of the industry leaders in
investment and financial advisor recruiting, M&A matchmaking, staff recruiting
and human capital consulting. We have about 30 full-time employees who are
financial services industry recruiting professionals.
Largest financial/investment advisor recruiting firm
Leader in RIA staff recruiting
Proprietary national advisor database and recruiting system
Recruited tens of billions in assets to our clients
Consistently facilitate hundreds of qualified introductions to our client firms
each month.
Often quoted in the press
“A” rating with the Better Business Bureau
Key Bullets
This brochure highlights the information you need to determine if you’d like to
explore working with us either now or in the future. We look forward to
dis-cussing our solutions in more detail if you believe there are synergies between
the solutions we provide and the growth needs and goals you have for your
practice.
Solutions for Financial Advisors
Recruiting financial advisors is extremely challenging even for large firms with
big budgets and extensive recruiting experience. It can seem daunting for a
principal who is busy running their business and cannot afford to make many
mistakes in the financial advisors and staff they hire.
RJ & Makay provides you with a recruiting partner who has been through this
process hundreds of times with owners just like you. Our proprietary recruiting
system combined with our scale provides the necessary capacity to help you
recruit successfully.
There are thousands of individual independent, captive and RIA practices
look-ing to hire a quality financial/investment advisors. If you're an owner wantlook-ing to
hire one or more financial advisors or staff members, we can help in ways that
few firms can match.
RJ & Makay maps out the current recruiting landscape and demonstrates how
your offering compares to the big and small firms you are competing with. We
can help you with a realistic assessment of the recruiting potential based upon
your individual situation, value proposition, offering and location.
Our scale and capacity enables us to excel when it comes to providing
recruit-ing solutions. We're not the cheapest firm for hire and we don’t work for free,
we do provide our clients with value and results. Some of the biggest firms in
the industry rely on RJ & Makay as a key partner in achieving their annual
recruiting targets.
Advisor recruiting
Branch/office staff recruiting
M&A matchmaking
Human capital consulting
Our Solutions
Advisor Recruiting
RJ & Makay provides financial advisor recruiting solutions for financial firms.
Recruiting quality advisors in needed quantities is a critical challenge for any firm, regardless of size. The recruiting landscape has never been more competitive.
Even with a recruiting budget that allows for third party recruiting, it's difficult to generate enough quality flow from most firms to make a significant difference in advisors recruited.
The financial advisor recruiting industry is fragmented and dominated by sole proprietors. This makes it difficult for most firms to make a significant quantity/quality impact for their clients, since most firms struggle to provide a quantity of quality advisor leads.
RJ & Makay is the financial advisor recruiting solution if you don't have the luxury of rolling the dice and hoping for the best from contingency recruiting agreements. If your firm needs a guaranteed quantity of quality financial advisors, then RJ & Makay is uniquely positioned to deliver.
Types of Advisors
We recruit the following kinds of advisors:Investment/Financial Advisors
We recruit breakaway brokers from the wire houses and advisors with a transferrable book of business out of regionals, banks, insurance firms, independent broker dealers and RIAs.
Sales Representative Advisors
Licensed advisors without a book serving as any type of sales representative for a financial firm.
Practice Successors
If your retirement plans are within a five-year horizon, succession planning is essential. While many firms promote from within to name their successor, many others bring in outside talent to fill this critical position. We’ll help you find the right successor who matches the culture, values and philoso-phy your staff and clients deserve.
New Advisors
Hiring promising people to become an advisor with your firm can be as challenging as hiring experi-enced advisors. With experiexperi-enced advisors, you know what the advisor is capable of and what they have achieved. Evaluating potential success requires experience. RJ & Makay has hired over 500 “newbie advisors” for our clients. Let us help you develop a trainee model and recruit the most promising candidates.
Branch/Office Staff Recruiting
Corporate and branch recruiting and staffing requires industry expertise and experience. It makes sense to utilize a recruiting firm whose sole experience, expertise and focus is in the financial sector.
RJ & Makay has the potential to be a valuable human capital resource for you. Unlike general recruiting firms and staffing agencies, we are exclusive to the financial sector.
If you need to hire additional staff or replace underperforming employees with new talent, we provide com-prehensive recruiting solutions.
Research, Sourcing, Screening
and Recruiting
Our research, sourcing and qualified screening services are designed for the hiring manager who is experi-enced at interviewing and recruiting but needs help finding the best available candidates.
Research
Researching consists of finding the resumes and bios of active candidates who meet the basic qualifications of the open position. Each resume is screened and unqualified candidates are filtered out. We research primary and niche job boards, our internal proprietary database and various other external databases. We are certi-fied in the latest and greatest techniques for researching active candidates on the Internet. This service provides the “low-hanging fruit” available.
Sourcing
Our sourcing service takes research a step further. Sourcing is a more extensive active and passive candidate research and screening process. Sourcing expands our research into passive and poised candidates from referral resources, posted ads, social media (LinkedIn, Facebook and Twitter), and competitor passive candi-date search methods. This service provides a robust slate of active and passive candicandi-dates meeting the job search criteria.
Screening
Qualified screening means we will do a phone interview with the candidates we identifiy to determine their interest and verify their qualifications. We contact the most qualified candidates to discuss the position, your practice’s culture, and your value proposition. This service gives you a handful of the best candidates available interested in interviewing for your position.
Full-cycle Recruiting
We provide turnkey solutions for full-cycle recruiting. This solution provides everything from start to finish to fill your opening: research, sourcing, screening and managing the interview process. We debrief with the candidate after their interviews with you, help identify positive attributes as well as red flags, provide com-pensation negotiation support as requested and utilize our expertise to help you hire the right person.
Previous Searches
RJ & Makay provides staffing, sourcing, qualified screening and recruiting
solu-tions for posisolu-tions such as:
CFP / CFA / CPA / JD Candidates
Financial Advisor
Investment Advisor
Business Development Officer
New Financial Advisor
Para Planner
Relationship Manager
Registered Service Advisor
Office Operations Personnel
Retail / Institutional - Analyst
Retail / Institutional - Portfolio Management
Qualified / Non-qualified Plan Personnel
Wholesaler
Institutional Sales
Personal Assistant
Secretary
Marketing Associate
Marketing Director
IT Personnel
Financial Planner
Sales Manager
Chief Investment Officer
COO
CFO
CEO
Trading Operations Manager
Compliance Officer
Chief Compliance Officer
Director of Tax Strategies
Employee Benefits Personnel
Branch Manager
Assistant Branch Manager
Complex Manager
Regional Director
Divisional Director
National Sales Manager
Regional Recruiting Director
Trainer
Training Consultant
Advisor Coach
Mergers & Acquisitions
Matchmaking
One of the biggest challenges an acquirer faces is the lack of access to sellers.
Esti-mates indicate there are 40 buyers for every seller available. In such a competitive
market, RJ & Makay can play a vital role in facilitating your acquisition goals.
RJ & Makay is a leading consulting and matchmaking intermediary in the
buy-sell-merge financial practice space. Each year, RJ & Makay assists hundreds of M&A
play-ers with options involving buying, selling and merging advisor practices. Every week,
we speak to advisors all over the country interested in selling their practice to the
right buyer.
If you would like to acquire an advisor’s practice either outright or over time, we can
help put qualified and interested buyers, sellers and merger candidates in front of
you.
We speak with advisors daily about both short- and long-term exit strategies. If you’re
interested in mergers and acquisitions, we can help connect you with the right sellers
at the right times.
M&A Solutions
RJ & Makay serves financial advisors, RIAs, practice principals, and financial firms with:
Acquiring a financial practice
Selling a financial practice
Merging practices
Joining an existing firm
Consulting Solutions
Our consulting stems from industry experience and expertise in human capital strategy and implementation for RIAs.
Recruiting Preparation
Proper preparation for hiring an advisor is critical before any recruiting resources are spent. If you’re hoping to recruit breakaway and independent advisors, it’s important to know you’ll be competing against firms who spend top dollar making sure their marketing and recruiting processes are attractive and efficient. You will be competing with the opportunities represented by experienced and well-trained managers who work full-time recruiting the same advisors you want to hire. Large and regional independent broker dealers and firms, insurance conglomerates and national, regional and local RIAs across the country are in expansion mode. Acquirers of every kind have given advisors at every production level more options than ever before.
RJ & Makay helps you even the playing field and multiplies your exposure to advisors. We consult with practice principals every week about how to prepare and compete for advisors.
Advisor Recruiting Industry
Many firms would like to have an in-depth conversation about the advisor recruiting industry or have specific questions addressed regarding protocol, transition packages, quintile grids, breakaway brokers, and more. We provide insightful and helpful industry knowledge in all aspects of advisor recruiting.
Value Proposition
We can help you professionally develop and articulate the reasons why an advisor should work for your firm (culture, philosophy, growth, strategy, compensation, platform, location, team, marketing).
Firm Perception
We provide feedback and information about how your firm is perceived in the industry based upon the conversations we have with advisors.
Staff and Advisor Compensation
We can help you develop and compare your staff and advisors compensation plans, payout grids, bonuses, and asset/revenue goals.
Transition Packages
Wire houses, regionals, banks, insurance firms and even independents are offering quality advisors a transi-tion package (which usually consists of upfront and back end bonuses). You’re likely not interested in compet-ing with 300%+ wire house deals, nor do you want to target advisors who are lookcompet-ing for the biggest check. However, there are ways to be competitive for the right advisor. We can help you with creative and affordable transition ideas and structures.
Onboarding
Onboarding an advisor is challenging even for experienced hiring managers. Time is of the essence in getting licenses transferred, ACATs delivered and executed, and assets in the door. We can help you with solutions to facilitate onboarding needs.
M&A
We assist advisors exploring practice acquisitions and those seeking exit strategies. We provide support to firms through succession planning strategies and implementation.
Our research, sourcing and qualified screening services are designed for the hiring manager who is experi-enced at interviewing and recruiting but needs help finding the best available candidates.
Research
Researching consists of finding the resumes and bios of active candidates who meet the basic qualifications of the open position. Each resume is screened and unqualified candidates are filtered out. We research primary and niche job boards, our internal proprietary database and various other external databases. We are certi-fied in the latest and greatest techniques for researching active candidates on the Internet. This service provides the “low-hanging fruit” available.
Sourcing
Our sourcing service takes research a step further. Sourcing is a more extensive active and passive candidate research and screening process. Sourcing expands our research into passive and poised candidates from referral resources, posted ads, social media (LinkedIn, Facebook and Twitter), and competitor passive candi-date search methods. This service provides a robust slate of active and passive candicandi-dates meeting the job search criteria.
Screening
Qualified screening means we will do a phone interview with the candidates we identifiy to determine their interest and verify their qualifications. We contact the most qualified candidates to discuss the position, your practice’s culture, and your value proposition. This service gives you a handful of the best candidates available interested in interviewing for your position.
Full-cycle Recruiting
We provide turnkey solutions for full-cycle recruiting. This solution provides everything from start to finish to fill your opening: research, sourcing, screening and managing the interview process. We debrief with the candidate after their interviews with you, help identify positive attributes as well as red flags, provide com-pensation negotiation support as requested and utilize our expertise to help you hire the right person.
Why use RJ & Makay?
While we’re not the best fit for every firm, we believe we’re the best option for many financial firms who are ready to create and implement a recruiting strategy.
1. Scale
We have about 30 employee financial sector recruiting professionals and select contractors who work with us on special projects and strategies. We speak to over 750 advisors and financial professionals every week about human capital solutions. We introduce about 250 qualified and interested candi-dates interested in the opportunities our clients have every month. We have the resources and professionals to put to work for you.
2. Expertise
You want a firm with extensive expertise representing your firm to advisors and potential employees. This is what we do and what we know. We’ll professionally represent your opportunity, help through-out the process, and place advisors and staff with your firm.
3. Process
We have a proven methodology for recruiting advisors and staff to financial firms. We help you prepare your firm for the recruiting process and work side-by-side with you every step of the way. From finding interested and qualified candidates through placement and onboarding, we have a process for everything to ensure quality and results.
4. Value
We provide you with a strong value proposition. We are affordably priced, results oriented, industry experts who guarantees our results. There are no long-term contracts or obligations. Try us and see what we can do for you and your firm. If you don’t feel the value received is worth the cost then don’t renew for a second month. Our job is to provide you with results based value and to have you as a long-term client.
5. Guarantee
We guarantee our services because we are selective in the new clients we bring on. An experienced manager will evaluate your recruiting need and value proposition and the target market potential. If we don’t think we can deliver the candidates you’re expecting for the value proposition you are offer-ing then we’ll let you know. If we take you on as a client then we will provide specific guarantees for our services based on the position being filled.
Some of our guarantees include: retainer quantity and readjustments; non-advisor replacement; qual-ity; initial employment term; and account manager support. Our guarantees for each circumstance are detailed in our client contract.
Advisor Recruiting and Acquisition
Next Steps
Exploratory Call
Since our profits come from successful placements, we only take on new clients who have the will, skill and value proposition to effectively recruit and hire. Our process starts with an exploratory conversation to discuss and access the key components of your value proposition and recruiting goals to determine if we can provide value.
Evaluation Period
In the first month trial we deliver candidates on a pay per meeting basis according to our meeting fee schedule (see pricing at end of brochure). We guarantee the candidates are qualified and inter-ested in speaking with you. We bill for the facilitated meetings at the end of the first month. The evaluation period is for both firms to mutually evaluate the results and response to the value proposition in the specific market(s) targeted. Based upon the results we determine a realistic monthly activity target goal and align with your goals and budget.
Approved Client
After a successful evaluation period you can become an approved RJ & Makay client and your offer-ing becomes integrated into the options offered to advisors.
Approved clients can receive leads from being a part of our recruiting offering, become a Retainer client or utilize our Meeting Bundles.
Become Retainer Client
Our retainer clients become integrated throughout all of our recruiting resources and teams and receive primary client priority. Just like our industry, we are committed to generating recurring revenue for our firm. For our retained clients we provide priority services and discounted pricing on our solutions.
Become Meeting Bundle Client
Our meeting bundles are simply an agreed upon quantity of meetings, offered at discounted pricing, which are prepaid and then fulfilled on an agreed upon time frame. If we can’t fulfill the bundle within the agreed upon time frame then we refund the bundle balance. We have structured our fees for our clients to get maximum value at minimum risk.
Our consulting stems from industry experience and expertise in human capital strategy and implementation for RIAs.
Recruiting Preparation
Proper preparation for hiring an advisor is critical before any recruiting resources are spent. If you’re hoping to recruit breakaway and independent advisors, it’s important to know you’ll be competing against firms who spend top dollar making sure their marketing and recruiting processes are attractive and efficient. You will be competing with the opportunities represented by experienced and well-trained managers who work full-time recruiting the same advisors you want to hire. Large and regional independent broker dealers and firms, insurance conglomerates and national, regional and local RIAs across the country are in expansion mode. Acquirers of every kind have given advisors at every production level more options than ever before.
RJ & Makay helps you even the playing field and multiplies your exposure to advisors. We consult with practice principals every week about how to prepare and compete for advisors.
Advisor Recruiting Industry
Many firms would like to have an in-depth conversation about the advisor recruiting industry or have specific questions addressed regarding protocol, transition packages, quintile grids, breakaway brokers, and more. We provide insightful and helpful industry knowledge in all aspects of advisor recruiting.
Value Proposition
We can help you professionally develop and articulate the reasons why an advisor should work for your firm (culture, philosophy, growth, strategy, compensation, platform, location, team, marketing).
Firm Perception
We provide feedback and information about how your firm is perceived in the industry based upon the conversations we have with advisors.
Staff and Advisor Compensation
We can help you develop and compare your staff and advisors compensation plans, payout grids, bonuses, and asset/revenue goals.
Transition Packages
Wire houses, regionals, banks, insurance firms and even independents are offering quality advisors a transi-tion package (which usually consists of upfront and back end bonuses). You’re likely not interested in compet-ing with 300%+ wire house deals, nor do you want to target advisors who are lookcompet-ing for the biggest check. However, there are ways to be competitive for the right advisor. We can help you with creative and affordable transition ideas and structures.
Onboarding
Onboarding an advisor is challenging even for experienced hiring managers. Time is of the essence in getting licenses transferred, ACATs delivered and executed, and assets in the door. We can help you with solutions to facilitate onboarding needs.
M&A
We assist advisors exploring practice acquisitions and those seeking exit strategies. We provide support to firms through succession planning strategies and implementation.
Price List
Prices vary and many of our consulting services are provided for free as an added service for
other solutions. Please contact us about your specific consulting needs.
Consulting
Research
Sourcing
Qualified Screening
Full-Cycle Recruiting
Branch / Office Staff Research & Recruiting
$750
$2500
$5500
25% placement fee based on first year’s guaranteed
compensa-tion with a $2,500 up front and non-refundable retainer (retainer
applied to placement fee)
Basic retainer: $1,000 per month
2 to 3 qualified and interested acquisition/merger candidates submitted per month.
Place-ment fee of 6% of advisor’s last 12 months of revenue or GDC.
Growth retainer: $2,500 per month
4 to 6 qualified and interested acquisition/merger candidates submitted per month.
Place-ment fee of 6% of advisor’s last 12 months of revenue or GDC.
Premium retainer: $4,000 per month
Minimum of 6 qualified and interested qualified and interested acquisition/ merger
candi-dates submitted per month. This retainer is utilized for multiple locations. Placement fee of
5% of advisor’s last 12 months of revenue or GDC.
M&A Matchmaking, Retainer Client
Combine recruiting and M&A retainers. RJ & Makay recruiters are uniquely positioned to
represent both recruiting and acquisition opportunities your firm has to offer. The total
candidate quantity would be similar but the candidate types (recruiting and M&A) are mixed.
Combine Recruiting and M&A Matchmaking
Basic retainer: $1,000 per month
1 to 2 qualified and interested acquisition/merger candidates submitted per month.
Place-ment fee of 6% of acquisition sale.
Growth retainer: $2,500 per month
3 to 4 qualified and interested acquisition/merger candidates submitted per month.
Place-ment fee of 6% of acquisition sale.
Premium retainer: $4,000 per month
5 to 8 qualified and interested acquisition/merger candidates submitted per month. This
retainer is utilized for multiple locations.
Placement fee of 5% of acquisition sale.
For meeting bundles there are 2 fees involved: meeting and placement fees.
Meeting Fee Schedule:
Meeting Bundles
Prepaid Meeting Bundles:
Save 10% to 50% off meeting fees
Placement Fee Schedule:
6% of trailing 12 months gross revenue or GDC.
We work with approved broker dealers and custodians
who you may have an arrangement where they pay the
recruiting or acquisition placement fee. We have flexible
options for qualified clients to split up placement fee to
be paid over the first year. For large bundles reduced
placement fees may apply. Meeting fees do not apply to
placement fee balances.
Revenue
< 150K
150K to 400K
500K to 1M
1M to 2M
2M+
Meeting Fee
$250
$350
$500
$750
$1000
Exploratory Call
Since our profits come from successful placements, we only take on new clients who have the will, skill and value proposition to effectively recruit and hire. Our process starts with an exploratory conversation to discuss and access the key components of your value proposition and recruiting goals to determine if we can provide value.
Evaluation Period
In the first month trial we deliver candidates on a pay per meeting basis according to our meeting fee schedule (see pricing at end of brochure). We guarantee the candidates are qualified and inter-ested in speaking with you. We bill for the facilitated meetings at the end of the first month. The evaluation period is for both firms to mutually evaluate the results and response to the value proposition in the specific market(s) targeted. Based upon the results we determine a realistic monthly activity target goal and align with your goals and budget.
Approved Client
After a successful evaluation period you can become an approved RJ & Makay client and your offer-ing becomes integrated into the options offered to advisors.
Approved clients can receive leads from being a part of our recruiting offering, become a Retainer client or utilize our Meeting Bundles.
Become Retainer Client
Our retainer clients become integrated throughout all of our recruiting resources and teams and receive primary client priority. Just like our industry, we are committed to generating recurring revenue for our firm. For our retained clients we provide priority services and discounted pricing on our solutions.
Become Meeting Bundle Client
Our meeting bundles are simply an agreed upon quantity of meetings, offered at discounted pricing, which are prepaid and then fulfilled on an agreed upon time frame. If we can’t fulfill the bundle within the agreed upon time frame then we refund the bundle balance. We have structured our fees for our clients to get maximum value at minimum risk.
Retainers Include:
Monthly Retainer:
Advisor Recruiting and Practice Acquisitions
Flexibility: Month-to-month arrangements. Can switch options each month. Can cancel at any time. Combine
recruiting and M&A retainers into one.
Due Diligence: Before we can begin calling advisors about your firm’s recruiting opportunity we conduct a due
diligence call to make sure we thoroughly understand your value proposition, platform, payouts, culture, distribution, support, and transition packages. If you need help in developing your advisor offering we provide this consulting service as a separate fee.
Direct Recruiting: Designated recruiters (trained on your firm, value proposition and recruiting opportunity)
who are calling and marketing to advisors representing your firm.
Indirect Recruiting: sent as a secondary opportunity. If the advisor is not interested or qualified for the firm
another recruiting team is representing, then we present your opportunity to appropriate advisors.
Account Manager: Your firm will receive an experienced Account Manager to manage the advisor
introduc-tions and recruiting lifecycle. Your firm will benefit from our experience and insight in discussing your opportu-nity in detail and navigating objections and other recruiting obstacles. Your RJ & Makay Account Manager will help through every stage of the process and maximize the likelihood of getting the advisor(s) hired.
Candidate Profile: When we submit an advisor you’ll receive all of the relevant information needed for you to
determine if the advisor is worth meeting with. We provide the name and all contact info, previous firms worked, how long they have been an advisor, how long they have been an advisor at their current firm, assets managed, revenue, product mix, clientele mix, percentage of recurring revenue they’re doing and detailed notes about their hot buttons, concerns and interests.
Quality Control: All of our front line recruiters work off of our database and phone system. Every advisor
candidate goes through our quality control process before they are submitted and our QC manager has to approve each advisor profile before submission.
Quality Guarantee: If you believe any submitted advisor was not qualified to be submitted or uninformed
about your opportunity then we will remove that advisor from our quota count.
Activity: Because of our scale and commitment to excellence, we are able to deliver what most can’t: quantity
of quality advisors who are informed and interested in your opportunity and qualified to pursue it.
Monthly Report: At the end of each month we provide a report that details the number of advisors called, the
number reached, the results of those conversations, those who we sent your firm’s information, those we are dripping on, and more.
Ongoing Exposure: In addition to receiving monthly advisor recruiting flow we also provide ongoing advisor
communication about your firm with advisors who aren’t quite ready now but may be in the near future. We keep in touch with advisors and “drip” on them regularly so when they are ready to explore their options, your firm will be at the front of the line for consideration.