Blog

This is the third and final part of our three-part series on how to get your offer accepted. Part 1 spelled out the table stakes, part 2, and this month we describe what some of the major differentiators are, and how firms are utilizing them to win over candidates who are considering multiple job offers. You can still find good people in this tight talent market so consider adding one or several of these if not already to get your candidate to say “yes”! Major Differentiators  Head up ...

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Last month, we looked at what constitutes table stakes in an offer letter. This month, we explore what minor differentiators look like and how some firms are using these to get candidates to say “yes” to their offer. Minor Differentiators Team-member-first culture - Every firm says they offer this, but there is a clear difference between the firms who have more of the mentality of “if it weren't for the clients, you wouldn't have a job.” When the truth is that if you didn’t have your team, ...

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Hiring the right people for your firm can be a challenging time-consuming endeavor, especially in today’s talent market when job seekers have most of the leverage and multiple job offers to choose from. Hopefully you have not had a job offer rejected, but if you have - you aren’t alone. One recent research study by CareerPlug found that 58% of job seekers had declined an offer of employment.  In this three-part series,  we want to describe what we see each day as table stakes or the ...

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Happy New Year! To continue to capitalize on the momentum you gained last year, start this year off right by making sure you have your teammates in the correct roles within your firm. Having the right person in the wrong fit role (the “wrong seat”) substantially detracts from any efficiencies and scale you have achieved.  In our work with firms across the country, we see top candidates not be able to deliver top-tier results because, sometimes, they are in the wrong spot. In this month’s ...

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Last month we shared with you the reasons to hire a new planner and transition clients and in this month’s post we conclude our two part series with tips on when to transition clients, how to transition clients, and how to overcome pushback you may receive.   When to Transition Clients  Timing will differ - Every firm is different and not everyone will be ready to take on client relationships at the same time. It will largely depend on your service model, client type, ...

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Recruiting new talent for your firm right now is very difficult. Those seeking to attract talent in this highly competitive environment must have a detailed plan for showing their new planner how the firm will help them get to where they want to go professionally.  One of the best ways to do this is for firms to involve new planners in client meetings from the very beginning, so they can start learning the craft! Then once they have developed the confidence, maturity, and skills that you ...

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The firms we work with are busier than ever right now, and aren’t showing any signs of slowing down. This is a critical time for financial planning firms to continue the momentum, so you want to ensure you are getting the most out of your team to capitalize on the opportunities that are ahead of you.  You have probably had some team members step up over the last year to tackle the new challenges your firm faced, but what about the others in your organization who might not have stepped up ...

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Virtually every firm owner has at some point experienced the challenging financial and non-financial impacts of staff turnover.  The estimated financial cost, depending on the source, can range anywhere from 1-3 times a departing team member’s compensation. This is not the most detrimental cost though – even worse is the psychological impact of frequent turnover in firms, and how it causes the existing team members to lose confidence in their leader(s), increases the difficulty to ...

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Historically, resumes have been a very large part of the hiring process. After all, what could be better to understand a candidate’s experience and capabilities than a chronological account of a job applicant’s work history right there on one (hopefully) or more pages, for hiring firms to review and use as a guide for developing their interviewing questions to delve even deeper.  Yet as much as firms rely on these pieces of paper when hiring a new team member, a resume review is not the ...

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