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£200k headhunters to lead Solutions&#39 recruiting drive

National IFA Positive Solutions is hiring a team of 50 headhunters,

who will be paid six-figure salaries to track down new recruits for

the firm.

Competition to recruit advisers is growing increasingly fierce as

Positive Solutions vies with groups such as Inter-Alliance and

Millfield to hire new IFAs.

PS which claims to be the first to set up an in-house recruitment

team is more than quadrupling its headhunters to 65 from 15. The

recruiters will be self employed but contracted by the company to

work all over the UK to find new advisers.

The firm currently pays recruiters up to £150,000 but the next

batch can earn up to £200,000 a year if they meet their targets.

The firm has grown rapidly to over 600 RIs from just 51 in 1999. But

it wants to expand to 1,500 R1s by the end of next year and the new

team will play an integral part in this expansion programme.

PS believes the technology products it can offer new advisers will

attract many individuals but it will also poach advisers from other

rival networks.

Positive Solutions director corporate development Maurice Cotter

says: “We need more top recruiters to help spread the word. We know

we have the right offer, where the partner keeps more of the money he

earns and gets a better service.”

Park Row marketing director Neil Stevens says: “It will certainly get

tougher to attract the best advisers, the pie is going to get smaller

and smaller. But we do not feel the need to employ headhunters or a

consultancy at the moment.

“Our adviser base is gro-wing very quickly, mainly through referrals

from existing advisers.”

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