Developing Your Future Talent Pipeline

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 pipeline.

Do: Start with a Plan

Before building a team, you need to have some idea of where you want to go to understand current and future workforce needs. If you lack clarity around this, consider engaging a professional consultant to help facilitate. Ideally, build an organizational chart of what you want the company to be in 3 years, including all the roles you’ll need in the end state of where you want to be. Then you can work backwards to figure out which ones to hire first and next.

A pipeline is only valuable if it’s aligned with the roles your company actually needs to fill in the near future. Planning helps you avoid wasted effort on irrelevant candidate profiles.

Don’t: Shoot from the hip and hire what you need immediately, without any eye to whether that’s the right role for the long term. We have seen firsthand the stress and anxiety this recruiting strategy can bring before firms eventually find their way to us, when they realize they’ve hired the wrong people who don’t have the skillsets they need to grow with the organization.

Don't: Focus Only on “Active” Candidates

It’s easy to get caught up in only speaking to candidates actively seeking new jobs. While important, they represent just a fraction of the total talent pool. The best pipelines include a mix of active and passive candidates—people who may not be looking today but would consider the right opportunity in the future.

In recruiting, timing is everything, and sometimes the timing doesn't align, so don’t wait to build relationships until there’s an open role. Instead, engage candidates early and keep them warm over time.

Do: Build Relationships

Strong pipelines are built on trust and connection. Stay in touch with top prospects through personalized updates, newsletters, invitations to events, or simple check-ins; as a starting point, any interesting candidates should be on your “Future Job Opportunities” email list that you drip periodically, and you can include a sign-up for the list on your “Career Opportunities” page of your website (which you should have, even if you’re not currently hiring, for this exact pipeline reason).

Use your CRM or an applicant tracking system (ATS) like Breezy, Bamboo, or Workable to track interactions and notes. A candidate who isn’t a fit today may be perfect in six months. By keeping relationships active, you’re more likely to secure them when the timing is right.

Don't: Rely Solely on LinkedIn

LinkedIn is a powerful sourcing tool, but it shouldn’t be your only one. Consider other platforms like Zoominfo, ZipRecruiter, HireEZ, industry-specific forums like the CFP Board’s website, university alumni networks, and employee referrals.

Remember, everyone else is on LinkedIn, too. Over-reliance on one platform limits diversity and reach. Cast a wide net to include candidates from a variety of backgrounds and sources.

Do: Collaborate with Marketing and Employer Branding Teams

Your pipeline is only as good as your company’s reputation and reach. Partner with marketing to ensure job seekers are seeing consistent, engaging messages about what it’s like to work at your organization. Employer branding content—such as employee spotlights, videos, and behind-the-scenes posts—can drive interest and applications. Today’s candidates research employers thoroughly. A strong employer brand makes your pipeline more attractive and easier to fill.

Don't: Ghost Candidates

If someone has expressed interest in your company, treat them with professionalism—regardless of whether they’re an immediate fit. Respond to inquiries, provide feedback where possible, and always close the loop. Ghosting candidates damages your reputation and may deter future interest. A pipeline depends on positive candidate experiences.

Do: Involve Current Team Members

Encourage employee referrals and tap into your team’s networks. Your current staff likely knows professionals with similar skills and work ethics. Create structured referral programs with incentives and clear guidelines. E.g. if you make a referral that is hired and remains at the firm for at least 1 year, you are eligible for a $5k referral bonus.

Referred candidates tend to onboard faster, perform better, and stay longer than those from other sources.

Don't: Forget to Measure and Refine

Pipelines should be living systems. Track metrics such as time-to-hire, source-of-hire, conversion rates, and candidate engagement levels such as their response rate, how quickly they complete the process and any screening exercises you might have them complete. Use this data to refine your outreach, improve communication, and eliminate bottlenecks.

For instance, if only 5% of your pipelined candidates move to interviews, your sourcing or screening process may need adjustment. A good rule of thumb to shoot for is 10 to 3 to 1. For every 10 qualified candidate/contenders, interview 3, and hire 1.

Final Thoughts

Building an effective talent pipeline isn’t a one-time project—it’s an ongoing strategy. The best business owners treat it as a critical business function, not a reactive task. By combining thoughtful planning, genuine candidate engagement, and continuous improvement, you’ll ensure your organization is always prepared to hire top talent—quickly, efficiently, and with confidence.

Stay tuned for next month when we explore the timing of your hires.

Caleb and the New Planner Recruiting Team*

*AI assisted

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