When setting out to recruit a new financial planner for their firms, owners must first identify what problems they are trying to solve with a new hire in the first place. Some of the most common bottlenecks we see are replacing someone who left or was promoted, increasing capacity to serve more clients, reducing the workload of another team member, or finding and developing an internal successor. In this month’s article, we discuss how to flesh out a proper job description to ensure you hire ...
Search Results for: expectations
Salary Negotiation Tactics
A question we are frequently asked by the candidates that we work with is whether they should negotiate and if so how. Negotiating salary can be tricky because most financial planning firms want you to feel like you are compensated fairly, so you can be focused on serving clients and represent the firm well. Firm owners at times are very sensitive and can take negotiating to mean you are not grateful for the opportunity and the level of compensation they have initially laid out. Making the ...
Should You Counter Offer?
Hearing the words “I have accepted another offer…” can be an entrepreneur’s worst nightmare… especially since it’s most likely to happen with team members who are high performing (the ones most likely to be recruited away!), where their departure could be a substantial setback. And as frustrating as it may be, it is inevitable that this will happen if you manage people long enough. Firm owners typically have several different ways to respond when the news comes, especially if team member is ...
Hiring A Remote Planner
The lack of sufficient talent currently entering the financial planning profession is undeniable. This talent shortage can cause immense frustration among firms attempting to build a solid pipeline of qualified candidates to select from when they need to add a financial planner to their organization. Due to these challenges, paired with increased efficiency and effectiveness of technology, some firms are rethinking their hiring strategy entirely by embracing remote/virtual hires versus ...
HOW TO FIND A FINANCIAL PLANNING POSITION AFTER GRADUATION
HOW TO FIND A FINANCIAL PLANNING POSITION AFTER GRADUATION. Congratulations! You’re on the cusp of graduating from a financial planning program. This is a time for excitement and celebration. Often overshadowing this milestone accomplishment is the fear and stress of finding a position – one that will provide learning opportunities, mentorship, and make you happy. Here’s some tips to find and land your dream position. DEVELOP A PLAN Starting your career in financial planning ...
When to Promote?
For growing firms, the onset of a new year brings a new slate of goals to work towards, and challenges to overcome for you and your team. The beginning of the year is also a great time to promote people on your team who are performing exceptionally, so they can start the year off in the right position and mindset. This month, we will look at how to identify candidates for promotion. Here are three signs to look for: They are already taking it to the next level. This one is ...
Pre New Year’s Resolutions
2018 will soon be in the books and for the most part it seemed to be a very good year for a lot of you, so congrats! To continue to build upon these successes and avert the challenges facing our profession, it is increasingly necessary that you continue to fully utilize every asset at your disposal. And by far the biggest lever you can pull to increase the value of your assets is to improve your firm’s human capital. From this perspective, you need each member of your team to be at the top of ...
5 Things to Do If You Don’t Have a Job After Graduation
If you’re reading this, you are either a recent college graduate or graduating within the year. First off, congratulations to you if you have graduated! Such a huge accomplishment followed by a tremendous amount of stress…getting a job. With the pressure of landing a position immediately and the increased competition in financial planning, the reality of being on the job hunt can become somewhat discouraging so we’ve come up with five things to do if you don’t secure a job directly after ...
Employee(s) About to Bail?
Unexpectedly losing someone in your organization is an unfortunate way to quash your business’s momentum and can become especially challenging during the usually slower summer months. Team members who have considered leaving you in the past and put their career prospects on hold to take vacations with their families, are going to start having a lot more time to consider any tempting offers that come their way heading into the fall, as competing firms start planning out their human capital needs ...
Loosen Up
If you have followed our newsletters, you know we are proponents of a thorough screening process. Because it’s easier to just not hire someone, than to have to fire them later! However, making great hires is like investing, in that you can reduce risks with proper planning, but can never eliminate them. You are always likely to have some concerns when making a hire. Yet at the same time, if you are dead set on holding out for the perfect candidate whom you have zero concerns with – you might ...
Interview Tips for New College Grads
You did the internships, you took the classes, and you’re wrapping up your final semester of college. You’ve almost made it! But now it’s crunch time - time to find your first full-time financial planning position. How do you differentiate yourself? Master the interview. Here’s how: Conduct informational interviews. Tap into your alumni network. Reach out to people who are working in positions that you want to have one day. Ask if they are willing to have a phone call to talk about ...
Pre New Year’s Resolutions
2017 will soon be in the books and for the most part it seemed to be a very good year for a lot of you, so congrats! To continue to build upon these successes and avert the challenges facing our profession, it is increasingly necessary that you continue to fully utilize every asset at your disposal. And by far the biggest lever you can pull to increase the value of your assets is to improve your firm’s human capital. From this perspective, you need each member of your team to be at the top of ...