In interviewing wealth management candidates every day, here are the common questions we are asked by a professional seeking a new role or company:
Eddy Ricci, Jr., CFP ®, CEPA ®: Many candidates are interested in knowing “if we do this job very well, what is the growth opportunity?” If they are an advisor candidate, looking to join a team as a salaried lead or service advisor, they often inquire on when they would be able to have responsibility in client decisions and be the key point person in the relationship. Or sometimes, they wish to know if there is a pathway to equity or ownership in the practice as “the growth opportunity.” For other roles, the growth opportunity could be to advance to more of a client facing/decision making role such as a CSA growing into a lead advisor. Finally, in planning and investment strategy roles- candidates want a sense for when their own research and thinking could be applied to client conversations OR when they will invited into high end client conversations as the expert/specialist on the topic.
Michael P. Connaughton, CFP®, CLU®, ChFC®: In our engagements with thousands of candidates we most frequently hear the below two questions.
1. What are reasonable compensation expectations given my background and experience?
2. Are there tools and education I should become proficient in and/or pursue to advance my career?
Part of our process is sharing current compensation data from recent placements across various markets along with providing perspective on what firms are targeting specific to designations, licenses, and planning tools. We find by highlighting these details it helps candidates to better evaluate their current position and determine the best path forward.