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How to Find a Financial Advisor Recruiting Firm


Financial advisor recruiting firms help connect jobseekers with companies that have vacancies to fill. You might consider enlisting the aid of a recruiting firm if you’re entering the financial services field for the first time or are ready to move on from your current employer. Knowing how to evaluate recruiting firms can help you find the right one to work with.

Are you looking to expand the marketing of your financial advisor practice? Try SmartAsset AMP, a holistic client prospecting and marketing automation platform.

What Do Financial Advisor Recruiting Firms Do?

Recruiting firms for financial advisors provide a guiding hand for identifying, engaging and hiring top talent. They utilize their skills, expertise and knowledge of the industry to find the best job candidates for the clients they work with.

The types of companies that hire financial advisor recruiters include:

  • National and regional brokerage firms
  • Independent broker-dealers
  • Bank brokerage channels
  • Boutique firms
  • Registered investment advisers (RIAs)
  • RIA custodians
  • Insurance broker-dealers
  • Wealth managers

Filling job openings for financial advisors can be a time-consuming and sometimes arduous process. Outsourcing recruiting to a professional company allows advisory firms to keep their focus on serving clients while ensuring that they’re hiring the right people.

Benefits of Working With a Financial Advisor Recruiting Firm

Landing a job in the financial services industry is often challenging, as there’s plenty of competition to contend with. Hiring a recruiting or placement firm to aid you in your job search can take some of the pressure off.

Here are some of the advantages of using a recruiting firm to find your next financial advisor job.

  • Recruiters can evaluate your skills, experience and qualifications to determine which hiring opportunities are worth exploring further, which means you don’t waste time applying for jobs that are a mismatch.
  • A recruiter may know about unlisted job openings that haven’t been made publicly available yet that you might be a good fit for.
  • Working with a recruiter allows you to conduct your job search discreetly, which may be important if you haven’t indicated to your current firm that you’re thinking of moving on.
  • If you receive a job offer, your recruiter can aid in negotiating your compensation and benefits package.
  • Recruiters can also help you navigate the transition process once you’re ready to leave your current employer for your new one.

In short, recruiters can save you time and free you from the distractions of trying to find a job. Working with a recruiter can also yield a financial benefit, as you may not have to pay for their services. Recruiting firms may work on your behalf for free and collect payment for their services from the hiring firm.

How to Choose a Financial Advisor Recruiting Firm to Work With

Financial advisors reviewing data with a new coworker who was hired through a recruiting firm.

There are a number of recruiting firms that serve financial advisors, but you don’t want to choose one at random. It’s better to take your time and research how different firms may be able to meet your needs.

Some of the hallmarks of a reputable firm include a lengthy track record that demonstrates a high success rate with advisor placements. The best recruiting firms thoroughly research hiring companies to understand what they’re looking for before offering candidates for consideration. Likewise, a good firm listens to your input to ensure they fully understand what it is you desire most in a prospective employer.

If you’ve identified one or more recruiting firms you might want to work with, the next step is vetting each one to see how closely they align with your needs. Here are some helpful questions to ask a recruiter:

  • What strategies will you use to help me find the right company?
  • Will I pay for your services or is the hiring firm responsible for your fees?
  • How many firms do you currently have strategic partnerships with?
  • What is your success rate in helping candidates find jobs?
  • Do you assist with negotiation compensation and benefits if I receive a job offer?
  • Can you help with the transition period if I accept a job offer?
  • How long does it typically take you to place an advisor?
  • Will I be required to sign a contract to work with you and if so, under what terms would it be considered voidable?

Transparency is a hallmark of a legitimate firm. If any recruiter you’re interviewing doesn’t fully answer your questions or dodges them altogether, that’s an indicator that you may want to look elsewhere.

If you know someone in your network who’s used a recruiting firm to find a job, you may consider asking them for a referral or recommendation. You can also ask them what they liked (or didn’t like) about the firm they worked with and what challenges, if any, they encountered during the recruiting process.

Tips for Working With a Financial Advisor Recruiting Firm

If you’ve chosen a recruiting firm to work with, it helps to know what you can expect going forward. Your recruiter should give you an overview and answer any questions you might have. Here are some dos and don’ts to help things go as smoothly as possible:

  • Do be specific and thorough in telling your recruiter what it is you’re looking for in a new employer.
  • Don’t submit resumes or job applications to advisory firms unless you’re directed to by your recruiter.
  • Don’t contact hiring managers directly and do advise any companies that contact you that they should reach out to your recruiter.
  • Do let your recruiter know if any firms that are outside of their network contact you directly.
  • Do return your recruiter’s calls or emails in a timely manner.

If you begin working with a recruiter and find that it’s potentially a mismatch, reach out to them to discuss any doubts you may have. At the end of the day, working with a recruiter should ease your worries about finding a job, not add to them.

Bottom Line

A new financial advisor joins a firm after working with a recruiter.

Financial advisor recruiting firms can provide a valuable service to both employers and advisors who are looking for open positions. If you’re ready to find your first job or your next one, consider how a recruiter could help you with achieving your goals.

Tips for Growing Your Advisory Business

  • SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
  • If you’d like to strike out on your own and start an RIA firm, there’s some significant planning that goes into it. And when you’re ready to start hiring advisors to grow your team, you may seek out a recruiting firm to work with.

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