Spottswood says the platform helps uncover information about the industry that many advisors are unaware of, like the major subsidiaries and offices of supervisory jurisdiction at national and regional independent broker-dealers.
“TAG Advisors is the largest super-OSJ at Cambridge,” said Spottwood. “If they didn’t know the dba name, it would be almost impossible for them to know about opportunities at a firm like TAG Advisors.”
AdvisorBid has evolved into an all-around social platform for advisors. While the platform’s core value is derived from its ability to link hirers, recruiters and advisors for staffing purposes and buyers and sellers interested in mergers, acquisitions and succession planning activity, the platform’s users are also able to network with each other and prospective clients.
In coming months, as new functionality is rolled out and the number of live users grows, AdvisorBid will offer advisors more robust networking opportunities, said Spottswood.
“We’re like a Facebook or LinkedIn for our industry,” said Spottswood. “In 30 days, we’ll be greater than any other social media platform – Twitter, LinkedIn, Facebook – for our industry.”