Looking for a job, but afraid you'll be found out? A new Web site, privateclientpro.net, provides a fast, anonymous and comprehensive listing of opportunities. So far, only Boston area jobs are listed, but the site's creator, Consultants Period, a Vermont-based consultancy, plans to expand.
The site gives brokers a quick insight into the kinds of deals major national and regional broker/dealers are offering in the Boston area, including level of production needed, product mix and other aspects.
The price can't be beat — it's free. You'll have to provide some personal information, but it's confidential. Consultants Period gets paid by the broker/dealers who have signed up, including Merrill Lynch, Morgan Stanley, UBS PaineWebber, Salomon Smith Barney, Legg Mason and several smaller firms.
“Brokers know their name's not going to be thrown around,” says Eric Gershman, president of Consultants Period. “They can find how much the firms would offer them to move to their office without releasing their name to the firm.”
After checking out the details, the broker has two options: He can either contact the branch manager listed on the site, or go through Gershman's firm for more info — keeping the broker's name confidential.
Michael Smith, vice president of Boston-based independent B/D Federal Street Investments, says that so far, it's proven effective in finding candidates and determining which inquiries “are the best match for us.”
Branches pay $295 a month to register. Consultants Period is rolling out an additional fee for broker/dealers who want the consultancy to act as a go-between in providing more specific information. They'll also contact the branch directly if the broker chooses.
About 300 brokers have signed up since the September launch, says Gershman, who has already targeted Connecticut as its next project.
