Pinnacle Investments uses a couple of different methods to imbue loyalty and bonhomie in its employees and financial advisors: It offers equity to workers and advisors and also has a do-it-yourself approach to getting work done.

“We’re run by people who are financial advisors, rather than non-advisors running a firm,” said Mark Nardella, president of the broker-dealer. “We’ve all left other firms because we didn’t like the environment there. No two advisors do things the same way. That’s part of our overriding culture. We don’t tell people how to do things.”

Pinnacle Investments’ reps and advisors work with $2.5 billion in client assets, he said.

“The majority of the people here have the option to be compensated with company stock,” Nardella said “That helps attract and retain talent.”

He added that more than 50% of employees and advisors have chosen that option. Meanwhile, some recruits are coming from a local rival, Cadaret Grant & Co. Inc., which was acquired by a private equity-financed aggregator in 2018.

“A lot of firms are being eaten up by the big guys, and employees want a semblance of their old firm,” Nardella said.

— Bruce Kelly