To Recruit or To Retrain? That is the Question
To Recruit or to Retrain?- Every investment firm needs employees with the right mix of skills and backgrounds. Experienced employees serve as examples and mentors for those new to the industry, whereas new advisors bring energy and ambition to the team. How do you choose whether to recruit or to retrain investment advisors? Download our whitepaper to get the answers to these questions and more.
Investment firms and financial advisors are grappling with the issue of whether they should recruit new talent, train from within or look to acquire experienced professionals from other firms.
Regardless of which approach is taken, every investment firm needs a carefully curated pool of employees with the right mix of skills and backgrounds.
Experienced financial advisors serve as examples and mentors for those who are new to the industry, whereas new advisors bring energy and ambition to the team. Since a large proportion of advisors will be reaching retirement age over the next decade, investment firms will need to seek both brand-new advisors and veteran advisors to fill their ranks.
What’s best for your business?
- Hiring new advisors: What a new, younger advisor may lack in experience, they make up for in fresh perspectives, energy, the ability to learn new things, understanding new trends, expertise in cutting-edge technology and an increased ability to relate to the younger nouveau riche.
- Recruiting experienced advisors: Every investment firm needs people long on experience who have been through the good times and bad. There is proven resilience in longstanding advisors who know the peaks and valleys of the financial industry.
- Promoting and training from within: Training from within provides financial advisors with upward mobility and creates a more loyal, happier and harder working labor force.
To Recruit or to Retrain