Ep 031: How To Properly Vet New Financial Advisors By Hiring For Attitude And Not Skills with Caleb Brown
Financial Advisor Success
Michael Kitces
4.8 • 696 Ratings
🗓️ 1 August 2017
⏱️ 93 minutes
🧾️ Download transcript
Summary
When it’s time to hire a new financial planner to help grow the business and build your team, the task can seem overwhelming. Trusting your clients with just anyone isn’t an option, so how do you go about finding and recruiting the best of the best of today’s talented financial planners? Today we have Caleb Brown joining us on the show and sharing his tips for finding the top candidates to join your firm.
Caleb is the co-founder of New Planner Recruiting Firm and has many years of both financial planning and strategic recruiting under his belt. He emphasizes the importance of looking beyond skill and diving into the deeper corners of applicants’ resumes and personalities to find any unteachable traits. From different testing methods to case studies and various interview techniques, Caleb teaches managers different tactics for finding trustworthy go-getters who can get clients to take action.
Get the full show notes and transcript for this episode at: www.kitces.com/31
Transcript
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| 0:00.0 | Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner, |
| 0:08.4 | speaker and consultant Michael Kitsis to hear stories of how leading financial advisors |
| 0:13.6 | navigated the inevitable challenges that arise on the path to success and get insight from leading |
| 0:19.2 | industry consultants about how to break through to the |
| 0:22.0 | next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone. |
| 0:28.9 | Welcome to the 31st episode of the Financial Advisor Success Podcast. My guest on today's podcast is |
| 0:35.3 | Caleb Brown. Caleb is the founder of new planner recruiting, |
| 0:38.9 | a recruiting firm that is the name implies, focuses specifically on hiring newer associate level financial |
| 0:44.9 | planners. What's unique about Caleb's business, though, is the way that he vets prospective |
| 0:49.4 | financial planners to determine whether they're likely to be successful in the business in the future, |
| 0:53.8 | with a strong |
| 0:54.4 | focus not on their technical skills, but the initiative and effort that they put into the process |
| 0:59.8 | of trying to get hired through his recruiting business in the first place. Because the reality is that |
| 1:04.9 | you can train a lot of financial planning skills, but it's almost impossible to teach someone to have |
| 1:09.1 | that go-getter kind of attitude that it |
| 1:11.5 | really takes to succeed as a financial advisor. So in this episode, Caleb talks at length about |
| 1:16.6 | what issues you should consider in the hiring process for a prospective new advisor, the role of |
| 1:21.6 | using various types of personality and other assessment tools to evaluate potential hires, |
| 1:26.7 | what you should and frankly |
| 1:28.3 | shouldn't expect your new hire to do and bring to the table to make the business more successful. |
| 1:33.3 | And what the going rate salary is that you have to pay as an advisory firm to get quality talent |
| 1:37.8 | these days. And be certain to listen to the end where Caleb talks about his own tips on |
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