Raintaker

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DEFINITION of 'Raintaker'

A former employee of a brokerage firm who takes high-value clientelle from his or her previous employer to his or her new brokerage. The term raintaker is taken from rainmaker, which is used to describe a brokerage employee who brings in large amounts of business to their brokerage.

INVESTOPEDIA EXPLAINS 'Raintaker'

Rainmakers typically bring clients, money or respect to an organization soley thanks to their association and reputation. Raintakers are usually former rainmakers for a brokerage. Raintakers can cost a brokerage substantial amounts in earnings and commissions from lost business.

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