Learning More About Budgeting For Small Businesses

If you have a small financial advising company and you would like to expand your business, there are a few different things that you can do. You don't just want to get applications; you want to make sure you are getting the best potential candidates that can be successful with your firm.

Some agencies specialize in tracking down successful advisors starting at other firms, and top potential candidates right out of college. Here are some of the things you want to do to get the right staff members in your door.

1. Use a Financial Advisor Recruitment Agency

There are many recruitment agencies that specialize in finding and places financial advisors will offer you a lot of resources, including the following:

• Potential applicants
• Applicant screenings
• Phone interviews
• Rate to set the salary
• Comparable incentives in the industry
• Competitor information

You can talk with them about the type of employee you are looking for or who you think may be good for the company if you are looking to add some age or gender diversity, and go from there.

2. Host an Applicant Challenge

Once you have a variety of applicants you can challenge them with a task to see how each of them responds and what decision they make. Give them a set amount of money, information about the person's age and background that wants to invest, what their goals are, and have them show you how they would invest it.

The applicants will have to quickly tell you what they would advise. This gives you a chance to see which employees are:

• Too conservative
• Eager to take unnecessary risks
• Thinking outside of the box
• Adding a variety of options
• Willing to provide multiple paths for potential clients

There are a lot of things you will be able to see when you offer these challenges. You can also offer more than one scenario or potential client to the challenge.

If your financial firm is doing great and you have more people that want financial advising than you have advisors that can advise, you want to find a recruitment agency that can help you get the new staff that you need. The sooner you can start hiring people, the sooner you can start taking on more clients and expanding your business. Don't hesitate; start outsourcing through a financial advisor firm recruitment agency that could do all the hard work for you today.