Given how much a good and efficient financial advisor must rely on a team for support, making a good decision on hiring a new client service associate is critical. Unfortunately, though, finding a good – or better yet, great – client service associate can be a real challenge, and getting it wrong with a hiring mistake is inconvenient at best (and disastrous at worst). Which makes finding the right client service associate – either to fill a vacant spot on the team or because you’ve reached capacity and need to expand further – a rather high stakes proposition.
In this guest post, practice management consultant Teresa Riccobuono of Simply Organized shares the most important factors for successfully hiring a great administrative employee, including developing not only an effective job description and also a functional job posting (which is not the same thing and can help save a tremendous amount of time). She also provides tips on how to give detailed instructions for candidates to submit their applications, where the best places are to post the opening, and some pitfalls to avoid in the process.
From there, Teresa gives guidance on what to do once the resumes start pouring in (because there are usually a lot of applicants for administrative positions), how to stay focused on the end-goal even in the initial phase when you may see a lot of resumes from unqualified candidates, and when to be critical (but not too critical!) in reviewing and screening resumes from qualified candidates.
Finally, Teresa walks through an actual interviewing process, from preliminary preparation, to setting up initial phone interviews, conducting face-to-face interviews (including some possible pitfalls and yellow lights to watch out for along the way), and ultimately making your final decision (and how to then let the others on your “short list” know that you’re moving forward with a different candidate).
While hiring may not ever be particularly easy (or enjoyable for advisors who set out to serve clients, not hire and manage people!), and it might turn out to be a better decision to outsource the process to a recruiter, there are strategies you can use if you’re doing the hiring process yourself to become more efficient and effective (and make the process a little less painful). By doing so, you can increase the odds of finding a great candidate, lessen the chances of making a hiring mistake, and get back to what it is you and your team do best… helping your clients!
source https://www.kitces.com/blog/hiring-registered-client-service-associate-for-financial-advisor-job-postings/
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