2. Use a Targeted Screening Profile
Industry-specific directories and job boards. If you need a CFP® practitioner, the CFP Board Career Center offers a recruiting search tool. The Financial Planning Association Job Board, National Association of Personal Financial Advisors, and eFinancialCareers are also helpful sites for finding qualified candidates. Non-industry job boards. Job sites like Indeed. com are still common places to post your ad. The job search board for a local chamber of commerce could also be a good source of leads. Universities offering CFP® courses or finance degrees. Check out university job boards in any locale and consider reaching out to their alumni groups. LinkedIn. Post a status update announcing your job search to your feed or upload a free listing using LinkedIn Jobs. Google. Google’s powerful algorithms will enable your advisor talent search in any ZIP code. Even if the advisors you contact don’t want to make a move, they may know a candidate who’s interested. 4. Focus the Interview on “What” and “Why” After you’ve identified some leads, a good first step is to review their work history on FINRA BrokerCheck. Next, you’ll want to meet your ideal candidates and sell your story. To determine who’s a true match, focus on questions like “What’s in it for the candidate?” and “Why does this advisor want to make a change?” What’s in it for the candidate? Think from the advisor’s point of view—how will this individual benefit from affiliating with your firm? What’s your firm’s value proposition, and why is your practice the right place for this advisor to land? Be ready to talk about: • Your service model • Access to a client niche • Opportunities to shift to a fee-based or financial planning approach • Use of technology and systems • Systematized client processes or systems within your firm Continued
If you’ve decided to hire an advisor, determine the relationship you want to have with this individual. Are you looking to hire an associate advisor to work behind the scenes or directly with clients? Do you want to hire this person as an employee, share clients with them, or simply share space with another producing advisor? Once you’ve clarified the advisor’s role, make a list of what you’re looking for, such as: • Years of experience or point in career • Production and business mix • Knowledge, skills, and designations • Client service standards and service model • Investment philosophy • Growth trajectory and business goals • Client niche • Personality and personal values Once you’ve compiled your list, use it to create the job advertisement you’ll share with your network, job boards, and candidates. 3. Be Savvy About Your Search Tactics
Since 2020, many businesses successfully shifted to virtual interviewing and remote working. This change means geography doesn’t have to limit your talent search. Use the following resources to either focus or expand your recruiting efforts in any location. Referrals. Tapping into your professional network is still the gold standard. Alert trusted professionals, including other advisors and centers of influence (such as CPAs, bankers, attorneys, and wholesalers), that you’re recruiting.
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