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May15Unlocking Opportunities: How to Provide Valuable Internships

Unlocking Opportunities: How to Provide Valuable Internships

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Just as in any other industry, financial planning firm owners take on a certain degree of risk when hiring professional staff. For firms that are looking to hire, a quality intern program is a great way to try out potential employees before they sign on the dotted line for a permanent position. In addition to ‘test driving’ future employees, having interns is a good business practice because an extra set of hands to complete work and an additional set of eyes with a fresh perspective is helpful ...

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Apr14Standing Out in the Sea of Multiple Offers

Standing Out in the Sea of Multiple Offers

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If you are seeking to hire new talent for your firm, chances are you are not the only one.  When so many firms are looking to hire at once, it means other firms are going after the same (limited) talent pool, and that the most attractive candidates will likely have several offers to choose from.  This month's post reveals how you can emerge as the frontrunner in a competitive situation with a potential hire without giving the farm away!  Follow these guidelines, ...

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Mar15The Right People for Your Team

The Right People for Your Team

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A trend we continue to see in the hiring landscape are firms lacking clarity around who they are trying to hire. This month, I want to discuss the thought framework an owner should employ before hiring a new planner. Part of that thought process is to resist the temptation to hire an exact copy of themselves and over-emphasize the business development component and skillset.    However, notwithstanding the consensus view from consultants that having a bunch of people in an ...

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Feb15Avoid These Mistakes So The Candidate Says ‘Yes’ To Your Hiring Offer

Avoid These Mistakes So The Candidate Says ‘Yes’ To Your Hiring Offer

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During the last year, if you have had a smooth interview process and made a successful hire, congratulations because many did not have the same experience. The market of available young talent continues to be very limited, and now more firms are hiring due to improving stock market conditions.  Furthermore, you will probably not have as many people interested in your role as you may have had in the past. Due to the plethora of openings stemming from the growth of the profession, job ...

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Jan17Quash Quiet Quitting

Quash Quiet Quitting

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You have probably heard the term “Quiet Quitting” by now.  It is seemingly ubiquitous when describing the labor force post-Covid. Quiet quitting, or quitting-in-place, is really a fancy name for a problem that employers have dealt with for centuries: lack of employee engagement. When team members are “quiet quitting”, they are only doing the minimum to collect their salary, and it can be disruptive to any organization by slowing growth and damaging culture.  Quiet quitting can take ...

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Dec15Getting a Head Start on Your Hiring

Getting a Head Start on Your Hiring

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The beginning of the year into the late spring historically has been a popular time for financial planning firms to hire as firms seek to recruit college graduates graduating in May, bring on additional support for the extra work during tax season, and to service the increase in new clients starting their financial planning engagement with the firm.  Even though the market has been down for the last year, we anticipate more of the same type of hiring demand this year, based on the increased ...

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Nov15What New Planners Want Part 2 of 2

What New Planners Want Part 2 of 2

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Last month, we looked at what new planners are seeking from the culture of the organization they join. This month, we are going to review what they are looking for from a compensation and benefits perspective. See below for the most commonly cited components of what new planners are seeking from their employers that we have compiled from thousands of conversations with new planner job seekers over the last couple of years. Compensation and Benefits We realize some of these ...

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Oct14What New Planners Want Part 1 of 2

What New Planners Want Part 1 of 2

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“...I’ve about had it. I don't know what these people are looking for and I’m tired of having to try to cater to their needs…” Sound familiar? We hear from a lot of frustrated firm owners across the country about the recruiting and retention challenges they have been facing in their firms, especially over the last few years.  We are certainly in unprecedented times when it comes to navigating the human capital component of your business, and while it can be frustrating at times, it is ...

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Sep15Compensating New Planners

Compensating New Planners

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One of the questions we field on a regular basis is how much should I pay my new hire. This is a tough question to answer because it can depend on a number of factors and can change significantly in very short intervals. We have written about salary surveys in the past and still advise firms to seek multiple sources of information when designing a compensation plan for their team members. Furthermore, we have set out to provide a slightly different data set to again help in this conversation. ...

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Aug17How to Hire an Intellectually Curious Candidate

How to Hire an Intellectually Curious Candidate

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In the discovery process we take firm owners through to help them gain clarity on the type of person they are seeking to hire, one of the most sought-after characteristics our clients ask for is “natural curiosity”, or sometimes referred to as intellectual curiosity. In this month’s article, we will examine what natural curiosity is, how to identify these traits in candidates you might be recruiting, and the pros (and some cons!) of hiring an intellectually curious candidate. Simply put, ...

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Jul15Turning Employee Resentment to Contentment

Turning Employee Resentment to Contentment

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“I’m tired of working so hard for my boss, who is never here, so they can drive a Tesla!”  We heard this recently from an employee at an advisory firm. It certainly isn’t the first time we have heard of employees resenting their bosses, but it is seemingly becoming more common. In this case it wasn't really about the Tesla, it usually isn't - it was mounting frustration driven by several underlying issues. Keep in mind at the end of the day it is your firm and you can drive whatever you ...

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Jun15Training New Financial Planners

Training New Financial Planners

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The financial planning profession has changed substantially since I joined almost 20 years ago. While these changes have been mostly for the better, we are still struggling with the hiring and training of new financial planners. I see it every day as CEO of New Planner Recruiting, each semester as an adjunct faculty member at the University of Georgia’s financial planning program, and as a CFP professional with a local RIA. Many of the smaller independent RIAs don't have the infrastructure, ...

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