Often advisors ask us how to find the next generation of talent. While this isn’t something we focus on, there are some learning we can pass along. This blog will help provide ideas for those advisors looking to grow their firm. The manner in which you approach recruiting new talent largely dictates whether the individuals you bring on board prove to be “rainmakers,” client servicers, closers, or a combination of all three. Below, we highlight some of the best recruiting channels for financial advisors to find their next generation of support, along with some tips that will help you find the best talent.
Colleges and Universities
Financial industry recruits can certainly be found by headhunters and job sites, yet it would be an error to strictly rely on those channels. Shift your attention to colleges and universities to look for upcoming talent. More colleges and universities are offering degrees in financial planning for students who will graduate with a CFP. Schools also have co-op and internship programs that provide students with a chance to work in full-time roles related to their course of study. These learning opportunities prove mutually beneficial to students and financial services providers.
Partner with a college or university to have a steady flow of new talent walking through your doors, some of which will be worth keeping around in full-time, permanent roles after graduation. Don’t assume merely having a presence at a local campus will suffice. You will need quality programs to win over the best prospects. Make sure to provide your interns with meaningful work experience, quality compensation, and make it clear you are willing to retain them as full-time employees if they prove their merit.
Rely on a Recruiter
There is no reason to attempt all recruiting work on your own. If you were to attempt to recruit new talent while managing your own workload, you wouldn’t have enough time to perform either role at the best of your ability. Outsource the recruiting work to a recruiter and your managers will be able to focus on their prime duties, rather than attempting to pinpoint the best new talent.
Recruiters have the ability to lead you to potentially endless new talent. Lean on the industry’s proven recruiters for finding new talent and you’ll find their strategic approach proves quite effective.
Considered Mailers and Other Ads
Plenty of financial services providers overlook the merit of printed ads and mailers simply because they’re thought to be tacky or ineffective. Though printing ads takes time and money, they serve as a solid source of advisor leads.
Printing mailers and other ads also helps to build brand recognition. Present your mailers and additional advertising materials in a manner that maximizes the “read rate” and your effort will not be in vain. Your ads shout be direct and simple in order to give your message the intended impact.
Use Your Website
Aside from relying on conventional mailers and other traditional forms of advertizing, your website is a great opportunity for recruitment. Polish your website, improve its user experience design, add a blog, and you’ll find interest in your firm dramatically increases. Don’t forget to add an “About Us” section along with a “Now Hiring” or “Open Roles” page. Job-seekers will be able to find out more about the benefits of working for your business and also learn about available positions.
Build a Blog
Your blog has the potential to be an invaluable tool in your search for new hires. Those looking for work can click your blog, read through the posts, and get a sense of whether your company is actually worth working for.
What matters most in the context of blogs is that the content focuses on the evolution and merits of your business, your niche, and the overarching sector. Make it clear that you are on the cutting edge of technology, strive to innovate, and keep pace with industry developments.
A solid relationship with a wholesaler will help you bring new talent aboard without investing your own time and energy trying to find the diamonds in the rough. Be direct by asking for referrals and it won’t take long to connect with some of the top local prospects.
Contact Bridgemark Strategies
Bridgemark Strategies is a recruiting, consulting, and M&A firm. We help advisors assess, evaluate and negotiate their search for a broker dealer, RIA, or strategic partner. Our experience and success is unparalleled in the industry in helping advisors find their next firm. Reach out to us today at (866)266-8823 or on the web through our contact form for a confidential discussion and more information about our services.