Technically, there is a party search function. The problem is that very few people use it. I don't think there is a need to show a flag over my head but I do agree with the original post that this needs attention. I think the one already in game is good but it lacks the ability to select a more general option for those just ranking up. At the moment there are only options for doing guildleves, questing, etc...

I'm not sure that is the solution but it is something that keeps me from using the search function more.