7 Creative Ideas for Recruiting Financial Advisors

Financial advisors are in demand. Growth-minded advisory firms, therefore, need to go beyond traditional job boards and get more creative with their recruiting strategies when looking to hire another advisor.

According to a Cerulli Associates report, over the next 10 years Cerulli estimates more than 111,500 advisors will retire, representing more than one-third of the workforce and assets.

One way to address this outpouring is to make retaining and recruiting financial advisors a firm-wide effort, encompassing every team member — from receptionist to managing partner. Build the process into your culture, i.e., when your admin is at a holiday gathering and discovers her cousin just graduated with a finance degree, she’ll want to discuss your firm.

This next point can’t be stressed enough: make sure it’s clear to onlookers that you’re hiring! A simple example includes a dedicated ad on your home page linking to the specific job posting.



7 Creative Financial Advisor Recruiting Strategies



Brainstorm a list of organizations you belong to, e.g., chamber of commerce, Business Network International (BNI), Financial Planning Association local chapter, etc., and utilize all career-listing locations provided by your memberships. Also, consider advertising within monthly membership email communications.

Sometimes we’re so busy, we forget about resources we’ve already paid for, including membership benefits.




Use Google Alerts to find your ideal advisor. For example, your alert could be: Financial Advisor [Insert Target Town(s)]. When an alert arrives in your inbox, reach out and congratulate the individual regarding their news/reward, comment on their blog post, etc. Ultimately, invite them out for a coffee or lunch.

Consider setting up alerts for:

  • Individuals you’ve already connected with.
  • College-related postings, e.g., John Doe graduated with finance degree or Jane Doe made honor roll, etc.




RELATED: Financial Advisor 12-Month Calendar of Blog & Social Media Content Ideas (Special Report)




Host a unique educational workshop advisors would want to attend. Before and after the event, let them know about your job opening.




Coordinate a Google AdWords campaign. Purchase keywords your ideal candidate would use to find their next job, e.g., Financial Advisor Jobs [City], or RIA Firm Hiring Near Me, etc. Spend time considering the mindset of your ideal candidate and the words they’d use to find you.

For this approach to be most effective, do the following:

— Build out a careers web page enabling others to easily share your job openings. Include such items as: firm-related event photos; virtual tour of office, cafeteria food, on-site gym, etc.; video interviews with staff and clients, etc.

— Focus your recruiting marketing copy on opportunities rather than requirements when recruiting financial advisors. Said differently, describe how to be successful at your firm rather than skill sets needed.

— Build out your LinkedIn, Glassdoor and other account profiles. Encourage current and past employees to post reviews.

— Post to your local community Facebook page and ask community members to share your job post.




Provide flexible work schedules to attract mothers, veterans and others looking to get back into the workforce. Be open to hiring retired financial professionals on a part-time basis. Sure, many of us want experienced full-time advisors, but when recruiting financial advisors in today’s competitive career landscape, alternative approaches may just be your solution.




Create an employee referral program and ensure that your staff knows the story you want told to prospects. Provide a bonus for each introduction — whether you hire the advisor or not — inspiring your staff to continuously send you leads and to always be on the lookout for another great team member.



RELATED: Increase Qualified Investor Leads Using an FAQ Page  (Special Report)




Involve your assistant in your recruiting efforts. Have the individual attend networking events on your behalf. Again, provide a bonus for each introduction your assistant provides. Have your assistant commit to networking once per month, or ideally once a week. You’ll not only find your next hire, you’ll find more clients.

One simple task may include searching through Meetup and other online venues to explore upcoming events your next team member may likely attend. For example, an advisor focused on professional development might be found at a local Toastmasters meeting.

Keep in mind that many RIAs/IBDs offer virtual admin programs. Use them to help you with these basic recruiting tasks.



Keep in Touch

If you’re looking for help with your financial writing, or you have a need to outsource a marketing project, contact me. Once I’m on board, you’ll have more free time and more qualified prospects interested in your financial expertise.



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