We often hear advisors say, “I’m just not good at it.”
When you think about it, though, the interview is simply
a means to obtain specific information. Just as you talk
with clients to determine their risk tolerance and financial
goals, you speak with candidates to assess their skills,
experience, and career aspirations.
Proper preparation is one of the keys to maximizing the
interview process. This involves crafting effective questions,
assessing the experience listed on the résumé, and sharing
information about your firm’s mission and vision. Phrasing
questions properly and honing your listening skills and
body language can make a significant difference in the
responses candidates provide.
Here, we talk with two Commonwealth advisors, each
with very different practices, who have particularly strong
processes for interviewing and hiring the right people for
their teams.
Gabe Lapito
, co-owner of Strategic
Retirement Plans in Billings, Montana,
joined Commonwealth in 2007. The
firm’s expertise is in financial planning
for retirees, with a focus on providing
exceptional service and results. Gabe
and his six team members are committed to helping
clients protect their existing assets while pursuing their
financial goals.
Lynn Weirich
, cofounder and president
of Business Financial Group in San
Antonio, Texas, joined Commonwealth in
2000. Launched in January 1998, BFG
has more than two dozen employees who
support five areas of service to assist
executives, business owners, and individual clients in 16 states.
Describe the first steps you take when
filling a position.
Gabe
: We evaluate and update the job description, discussing
with staff the qualifications needed to fill the position,
and then we post the job opening on Craigslist.com, with
a job service, or with a local employment agency.
Lynn
: We review and update the job description. We let
our employees know the type of candidate we’re looking
for and request their referrals. We also check our archives
for résumés we’ve collected during other recruiting activities
or by way of referral. When we don’t already have candidates
in the process, we use CareerBuilder.com to post an ad.
Occasionally, we will use a temporary-to-permanent
arrangement if the need is immediate and we need time
to recruit a permanent person.
What techniques do you use to distinguish
qualified candidates from the others?
Gabe
: We review cover letters and résumés and rate them
on a scale of one to three, one being the highest. Depending
on the number of résumés we’ve received, all candidates
rated “one” are invited to come in for initial testing in
areas such as spelling, grammar, filing, prioritizing,
handwriting, typing, and math skills. Staff members are
encouraged to greet the candidates and thank them for
coming in. This allows us to create a memorable first
impression and to get a feel for their personalities.
We look for candidates who demonstrate compatibility,
competency, and character. We believe the first two can
be taught, but character must be demonstrated.
Lynn
: After reviewing the résumés for content, grammar,
and skill set, we e-mail viable candidates an explanation of
the position and ask if they are interested in continuing
in the process. We then send them an application and
schedule a preliminary interview. Following that interview, we
ask them to send us another e-mail answering three questions:
•
What is your understanding of the position and the role?
•
Are you a good fit for the position and why?
•
What value would you bring to our firm and to
our clients?
Hiring and Mentoring: By Advisors, for Advisors
ANGELA C. SARVER
The interviewing and hiring process
can be one of an advisor’s most
challenging responsibilities.
Practice Management
commonwealth.com
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