Hiring financial advisors: Important tips to keep in mind

Looking to hire financial advisors? We are going to take a look at tips to keep in mind to be sure you are getting the best candidates for the position. Be wary of poor-quality recruitment companies. They are everywhere today; including the finance sector. You will need to do your research first to make sure you are picking one that makes you feel confident in their abilities. Check and see what style they have, such as implementing an appointment setter using services like https://www.leadjig.com/appointment-setting-services-for-financial-advisors/, this shows efficiency and good timekeeping which may sway you.

Find out why the individual would be suited to the job role

You need to know why the individual is unique and understand why they are the best fit for the position. Find out what is special about them and why they think it is the perfect opportunity for them.

Remember your target market

Recruitment advisors tend to forget that they are talking to a potential recruit not a business prospect. There is no need discussing your architecture and how great performance on complex KPI metrics has been. You need to remember you are explaining value to a prospective talent not a high net-worth client. Your focus should be on describing why the firm is successful and why the prospects for growth are promising; relate to them what will impact most on their future.

Understand how the individual will make a difference to the success of your firm

You need to know what is making a potential recruit seek a change in employment, and tell them why your organisation needs new talent. You need to bear in mind that people are not only motivated by money. If you are recruiting into an executive position, for instance, you need to know that the candidate will want to play a meaningful role in shaping and building an organisation. You need to understand their leadership style and how it would fit into your company.

Improve on your handling of references

Instead of being linear in your dealing with references, you need to take a 360 degree approach. This approach involves talking to supervisors, peers and direct reports. The references obtained directly from the recruit and the references obtained indirectly should be kept separately. Try to talk to the references in person. Some of the clues you will notice cannot be taken on board over the phone. During discussions, ask open ended questions and watch for the speed of reaction. If the reference delays, or thinks excessively about an answer, that’s an obvious red flag and reason to explore further. You also need to watch out for fake references.

Work on your interview process

Make out time to plot a competency based structure for your interview. Create a format and a timetable well in advance. Doing this helps ensure you don’t keep listening to candidates tell a great story on their career and why they are looking for something new, without understanding whether they can do the job. Focus your time on discussing the requirements for the position; their skill set, potential red flags, previous work situations and insights into their strengths, weaknesses and how they will fit the culture of your organisation.

Have a realistic compensation target

You need to ensure proper alignment between what your firm can realistically pay and what the recruit is asking for. You don’t want someone coming over just for the money. If you are a smaller firm, and try to attract talent by offering lots of cash, you will lose out in the long run. You need to buy talent, yes, but you need people motivated by your company not just what they can earn.

These are some of the best tips for getting the right individual for your financial advisor position. If you are in need of help then visit Express group for Finance Recruitment services, or employ the services of a similar company.