When recruiting new employees, I often get questions about the validity, structure, and cost of various personality assessments. This month, we will take a look at some of the most common assessments that I come across and administer. Keep in mind, I am not the developer of these tools and have no affiliations with these companies. I am simply providing a general overview, based on my experiences and use of these tools. So why use personality assessments at all? Contrary to some popular ...
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Understanding Kolbe
Last month, we reviewed several common personality assessments used in hiring that measured the Affective (Feeling) and to some extent the Cognitive (Thinking) parts of the mind. This month we will examine the leading assessment that measures the Conative (Doing) part of the mind. You may not be as familiar with this one because the others are more widely discussed and commercialized. Nonetheless, having an idea of how someone prefers to take action is just as important a factor in the ...
Special Episode: Finding Your Path – The Roadmap From Student to Successful Financial Planner with Jesse Lineberry and Caleb Brown
Today, we welcome back Jesse Lineberry to interview Caleb on his new book, Finding your Path: The Roadmap from Student to Successful Financial Planner. If you are looking to excel in the financial planning field, this is an episode you won’t want to miss! Listen in as we dive into the purpose behind the book, how to navigate the profession, and the various career paths that are available. We also discuss how to avoid common pitfalls, making this a valuable episode for both fresh graduates and ...
Ep #164: How to Get Your Foot in the Door with Daniel Yerger
Daniel Yerger is the Founder and President of My Wealth Planners based out of Longmont, CO. He joins the show today to discuss his journey to becoming a financial planner, including how he transitioned from active military service, became aware of the profession, and secured his first position in financial planning. If you want to know what it is like to start in the dually registered RIA channel and transition to the fee-only RIA model, this episode is for you! Listen in as Daniel discusses ...
Utilizing Finders, Minders, Grinders Effectively
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 ...
Indicators of Success
Last month, we discussed how placing too much emphasis on technical knowledge can lead to a poor hiring decision. In this month’s article, we identify/explore several other areas that we have seen be better indicators of Success than purely technical ability. Look for these “SPECIAL” markers of success, in conjunction with technical skills, to find your next special person. Sense of Urgency - Most candidates think they have this, but few do. Unfortunately, the mindset of having a burning ...
Ep #130: Developing a Career as a Paraplanner with Alex Hopkin
Alex Hopkin is the Founder of Simply Paraplanner, an online job board that connects virtual paraplanners with firms seeking virtual hires nationwide. If you are seeking a virtual paraplanner role, this is an episode for you! Listen in as Alex talks us through her path to becoming a financial planner, starting with the scholarship she received and the challenges she faced as a military spouse seeking a virtual position in a field that had few options for remote work. You'll learn about her ...
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 ...
Avoid Getting Rejected By Candidates
As the holiday season winds down and the hiring season ramps up, this month’s article describes what financial planning firms should be doing to increase the likelihood a career seeker accepts their offer of employment. Because there’s nothing more frustrating than needing to restart the process from step 1 or having to go back to other candidates that clearly were not your frontrunner, because your top choice candidate rejects your offer! To say the least, a prospective candidate that declines ...
How To Properly Vet New Financial Advisors
Earlier this month, I was part of the Financial Advisor Success Podcast hosted by Michael Kitces to provide some inside information on the hiring of new financial planners for your firm. During this episode, we discuss things we look for when vetting potential hires for the financial planning firm clients we represent, developing a robust screening program to assist in determining effort, grit and skill. Listen for additional insight on the proper use of personality and cognitive assessments ...
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Candidate Screening Now that you have your finalists, are you having trouble deciding which candidate to hire? Let us help! Due to popular demand, we now offer standalone screening services for your new financial planner hires. We will handle the time consuming back office legwork to thoroughly screen your candidate. Send your finalists through our intensive recruiting process and receive an objective summary for each one for comparison. If you would like to engage us for our comprehensive ...
Setting Your New Hire Up For Success Part 2 of 2
Last month we looked at some tips on integrating new planner hires with clients http://bit.ly/Successpart1of2. This month, we will look at ways to ensure a successful integration of your new hire with your existing staff. The quicker your new hire can become acquainted with your current clients and acclimated with your current staff, the faster they will add value to your organization. However, changing the internal dynamics of your human capital talent portfolio can be challenging and needs ...