Blog

To stay ahead, a typical rule of thumb for growing firms (also depends on how fast growth rate is) is to start the hiring process when they reach 80% capacity, and firms that are not growing need to start the hiring process when they reach 100% of capacity.  Hiring the right people and at the right time can catapult your firm’s growth like nothing else. The historical average for recruiting a new employee is about 90 days; it could be quicker or take much longer, but generally, you should ...

Read more +

You have all seen the headlines that highlight the future projected shortage of financial advisors. Some more closely align with other channels, mostly the sales side of the profession and are commissioned and released to gain clicks for advertising purposes, but not all should be ignored.  The firms that will continue to grow and win market share have a deliberate talent pipeline program. Here are some dos and don’ts for your firm when setting out to plan and build your talent ...

Read more +

When a job posting goes live and days or weeks pass without a qualified application, it’s more than just frustrating—it’s a red flag. The talent is out there and people are looking to enter the profession, but if your job post isn't attracting applicants, it may be time to reassess your strategy.  Here are five actionable steps employers can take to boost response and attract the right candidates. 1. Evaluate the Job Description The first step is to take a hard look at the job post itself. ...

Read more +

As the financial planning profession grows and evolves, some firm owners are increasingly recognizing the value of bringing in interns. A well-structured internship program not only provides meaningful experience for aspiring planners but also helps firm owners build a pipeline of future talent, delegate meaningful work to save themselves time and become more efficient, and contribute to the profession's long-term strength.  However, an effective internship doesn’t happen by accident—it ...

Read more +

Since almost all of Generation Z (born roughly between 1995 and 2010), the generation after Millenials, are graduating from high school and college and will soon be starting work in your firms, or may be working in your firm already, we thought it would be helpful to share some observations of this generation, and how you can set them up for success while maximizing productivity in your advisory firm. Prioritize Clear Communication and Feedback Gen Z workers value direct, honest communication. ...

Read more +

In many organizations, there’s often that one “rockstar” employee: the high performer who delivers exceptional results, exceeds targets, and often becomes the go-to person in high-stakes situations. But what happens when that rockstar comes with, or develops a toxic attitude? They may be brilliant, but they’re disruptive, difficult to work with, or create tension within the team.  Managing a toxic rockstar is one of the toughest challenges a leader can face — but it’s one that must be handled ...

Read more +

When recruiting you need to strive to offer the candidate the best experience possible, even if they are not selected for a role at your firm. The recruitment process is a two-way street. Just as employers evaluate candidates to find the best fit for their organization, candidates evaluate employers to determine if the role aligns with their goals and values.  One of the most debated aspects of this process is whether employers should provide feedback to candidates who are not selected. While ...

Read more +

Job seekers will sometimes say anything to get a job, which is why the interview process is a very important part of the overall candidate selection process. Conducting effective interviews is essential for making informed hiring decisions and ensuring a positive candidate experience. To achieve this, employers and interviewers must follow best practices that focus on preparation, structure, and consistency.  Follow these tips, especially if you don't interview often, to help conduct an ...

Read more +

If you do not have some type of virtual work/work-from-home policy, you are at a disadvantage when recruiting for new talent today. In practice, advisory firms that have ‘always’ run in-person do often struggle to convert to a fully remote working environment, but it isn’t necessarily a need to allow 100% virtual work (unless the firm wants to); allowing even just some work-from-home (e.g., 2 out of 5 days per week) can still have positive impact for the team, while still largely conforming to ...

Read more +

After the Second World War, many of the American military members returned home and entered the workforce managing and implementing work cultures that were similar to their military experience and training. Every generation that is further removed from this “Greatest Generation” has slowly moved away from the traditional model of rigid, authoritarian leadership in favor of a more relaxed, and approachable style.  This shift can foster a more comfortable and open work environment, but it also ...

Read more +

Last month in part four of our research survey series, we looked at how new planners felt about their compensation, and what increase would be required for them to feel fairly compensated. This month, in our final installment of the 2024 Career Satisfaction survey series, we look at how next-generation planners view equity ownership, whether they seek it, when along the career path they expect it, and how they expect to acquire it.  Equity Ownership Desire and Timelines One of the ...

Read more +