Home » What are top firms doing differently on talent strategy?

What are top firms doing differently on talent strategy?

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We are often asked by firm owners and COOs what the top wealth management ensembles do differently when it comes to acquiring talent.

Here is what we share:

Eddy Ricci, Jr., CFP, CEPA:  “Top ensembles understand they need a proactive talent acquisition strategy.  Identifying talent shouldn’t only be happening as a reaction when someone leaves, underperforms or when there is a need to add capacity. The top practices are always meeting credentialed professionals, whether for strategy roles, advisor roles, or service/ops roles. Talent acquisition isn’t “on or off” depending on an apparent need; it is always on, just with varying levels of intensity.”

Michael P. Connaughton, CFP®, CLU®, ChFC®: “High performing wealth management businesses operate with speed, efficiency, and clear communication. This includes their recruiting process.  Maintaining momentum with a candidate can make all the difference and the top firms recognize the need to operate thoroughly yet quickly with a prospective hire.  Successful firms also communicate their process clearly, outlining the next steps to both the involved internal team members and the candidate to best streamline and manage expectations.  Top talent is sought after likely considering multiple opportunities and is unwilling to wait around for a firm that appears to lack urgency and in turn ultimately lacks attraction power.”

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