What’s common feedback you receive from wealth management support role candidates when they remove themselves from a hiring process?
Eddy Ricci, Jr., CFP ®, CEPA ®: Some common reasons we have seen some candidates drop out of a hiring process (outside from compensation, taking another offer or culture) is that it wasn’t clear to them on the purpose or timeline of the following interview steps. This can be an easy fix by having the first interviewer share who they will be meeting in the hiring process, what the mutual learnings should be and the ideal time between each step. Also, we have seen candidates drop out of a process when a firm is unclear if the candidate will be able to maintain all their existing licenses in the new company. Finally, candidates will drop out once they learn that their “in office versus hybrid versus remote” expectations aren’t aligned with what the firm is offering.
Michael P. Connaughton, CFP®, CLU®, ChFC®: All too often we see candidates deselect an opportunity because of poor communication and large time lapses. A qualified wealth management candidate is likely exploring multiple opportunities and if a hiring firm isn’t communicating next steps and goes “dark” for periods of time, they are likely to lose interest and focus their energy on the other options. A firm needs to be thorough but keep momentum over a condensed time period. Also, failure to explain a growth path can cause a candidate to become disinterested quickly. As an employer is there an opportunity within your firm to take on more responsibility and/or pursue additional securities licenses and designations? If so, explain the timeline and vision and cite examples within your organization who have taken more prominent roles and furthered their knowledge base.