How to Hire the Right Financial Advisors for Your Practice (Part 3)

This is the final post in a three-part series on hiring the right financial advisors for your practice. 
Read parts one and two on how to hire the right financial advisor.
EXTENDING AN OFFER
When you are ready to make an offer, develop a package that is a win-win relationship. Don’t over-promise what you cannot deliver – set realistic expectations. Your package should clearly lay out compensation, benefits, hours expected, vacation time, roles and responsibilities and a potential career path. The candidate should understand exactly where you’re coming from and what you expect.

As with any relationship, if the agreement is not set up to benefit both parties, it will fall apart at some point, so it’s important to align your interests as you make an offer. You should also make sure you have educated the prospect on your industry so they know what to expect in that regard. Even if they have previously been a financial advisor, you should educate them on the differences of your broker-dealer.
Once they have accepted your offer, be ready to jump right into their training and development as you introduce them to their role in your practice.
As you can tell, hiring a new advisor is a process that takes time and includes many different components. For more guidance on how to find the right candidate for your office, schedule a complimentary consultation with Scott Leibfried, scott@dynamicdirections-d2.com.