Rockefeller has had unquestioned success recruiting big teams. That’s not debatable. Every month multiple announcements find their way into the press proving that fact.
Large teams from Morgan Stanley, Merrill Lynch, and UBS continue to find the story remarkable and easy to sell to clients. Assets transfer quickly and the ‘bespoke’ feel of the firm isn’t just a narrative, but rather reality.
In a conversation with a couple of sources close to Rockefeller, it looks like their recruiting success may tick higher in the second half of 2021. Rockefeller remains highly capitalized and focused on hitting home runs on the recruiting trail.
Leaving direct quotes out of it, Rockefeller has done deals with some of the biggest upfront payments in the industry. That’s part of the reason why they remain selective with who they recruit. The teams recruit and cut big checks to transfer their assets. So there is a clear roadmap.
The above paragraph is a nice way of saying if you’re a big team you’re going to get paid at Rockefeller. Big time paid. They like to win, and based on the current recruiting scoreboard, they keep winning.
So back to the headline, yes, Rockefeller’s deal has ticked a smidge higher, as has their flexibility in constructing deals. As an example, they do a great job handling teams with retiring advisors. That flexibility has made them very successful with Merrill teams.
That success will continue. Also, keep your eyes on Chicago and Denver. Rockefeller has some big things cooking in both locations.