Boutique dealer groups and self-licensed advisory firms are catching up to their institutional rivals and are back on the recruitment trail, according to recruitment specialist Profusion Group.
"Recruitment levels across financial services have been increasing for some time now, and while this was a trend largely started by the institutional dealer groups, there has absolutely been more activity by the boutiques this quarter in comparison to last year," Profusion director of wealth management Alison Loader said.
"The boutiques still do a lot of their own recruiting so we're not the strongest barometer, but there is no doubt a much more significant number of people being appointed, with more boutiques and self-licensed groups approaching us about assisting them with their hiring."
According to Profusion data, large and small financial services groups had ramped up recruitment over the last quarter, with a 47 per cent increase in the number of permanent positions in comparison to the fourth quarter of 2009. Candidates were also more likely to get multiple offers than last year as well.
Growth Focus managing director Steven Fine said he too had noticed a spike in recruitment by boutique dealer groups, smaller practices and self-licensed groups.
"Last year there was not much activity from the boutique dealer groups but that is certainly picking up now, with hiring across the board starting to even out," Fine said.
"While recruitment levels are not yet where they were two years ago, I think they will continue to increase towards the end of the year and then begin to slow down."
eJobs principal Trevor Punnett said while jobs continued to increase across the board, he wondered whether proposed changes on the back of the inquiry into financial products and services could impact recruitment in the industry going forward.
