From the outside this looked efficient, structured and transactional. In many ways, it worked.
However, as the wealth management and financial planning landscape has evolved, so too has the expectation of what good recruitment should look like.
Financial advice itself has changed. It has become even more holistic, more client-focused and more values-driven.
Financial Advisers are expected not only to provide technical expertise, but to build trust, demonstrate integrity and support clients over the long term.
It raises an important question:
However, in wealth management, the impact of a hire extends far beyond the immediate vacancy.
A great and well aligned Financial Adviser joining a wealth management company, will influence client relationships, team dynamics and the overall culture of the business.
Equally, the environment they enter will shape their confidence, performance and long-term career path.
When recruitment is treated purely as a transaction, these deeper factors can be overlooked.
The result is often a technically suitable hire that may not stand the test of time.
Transactional does not equate to Long-Term Happy Homes.
Wealth management companies are beginning to recognise that successful hiring is not just about capability, but importantly it is also about alignment:
This shift mirrors what has already taken place within financial advice itself.
Just as Financial Advisers now focus on understanding the whole client, rather than simply recommending products, People-First recruitment takes the time to understand the whole person and the whole organisation.
When Financial Advisers join financial advice firms that align with their values and working style, they are more likely to settle, grow and build long-term relationships with their clients.
This stability is invaluable:
Over time, the organisation becomes known not just for what it does, but for how it feels to be part of it. That is something that cannot be created through transactional hiring alone.
Behind every CV is a person with ambitions, concerns and a vision for their future.
Every role is a business with its own culture, challenges and aspirations.
Bringing those two elements together successfully requires more than process. It requires understanding.
At Truestar Talent, this is reflected in our focus on deeper conversations, honest representation and ensuring individuals are fully informed before making decisions.
We enable people to decide what is the right, informed choice for them.
Transactional recruitment focuses on the immediate outcome. Transformational recruitment, which is also known as People-First recruitment, considers what happens next:
In financial services, where careers and client relationships often span decades, this perspective is essential.
Financial Planners, Paraplanners and Investment Managers often spend years developing trusted relationships with colleagues and clients. A career move therefore carries both professional and personal significance.
Our responsibility is to support individuals in approaching these decisions thoughtfully rather than under pressure.
This includes ensuring candidates feel informed, prepared and supported throughout the recruitment process.
In practical terms, this may involve:
When recruitment is handled in this way, candidates are empowered to make career decisions with confidence and clarity.
Those that adopt a more thoughtful, People-First approach to recruitment are likely to see the greatest long-term success.
The People-First approach advocates for the client’s culture, retention and reputation. This is a great way to champion the Employee Value Proposition (EVP) of a company within the candidate market.
When recruitment becomes more human, more considered and more aligned with the values of financial advice, the results are not just better, they are more sustainable. Ultimately, that is what both individual people and client organisations are looking for.
There is a call from a recruiter and a role introduced to the candidate. The CV is sent and the interview follows.
At times, it can feel efficient. At other times, it can feel rushed, uncertain or lacking in clarity.
However, when recruitment is approached differently, the experience changes completely.
With the People-First recruitment approach, it becomes less about being “placed” and more about being understood.
It is focusing on actively listening to the person and finding out what is really important to them.
By creating a safe space, people talk more openly about what is working for them and what is not… it makes space to create a personalised wish list of what they want and need in terms of a next career move and in joining somewhere where they are and feel aligned.
Key questions include:
These are not always questions that candidates are asked. However, they are often some of the most important.
What becomes apparent:
It is at this stage of the relationship when the levels conversations deepen.
However, it creates the foundation for everything that follows, as without understanding, it is impossible to match someone to the right environment.
They are not presented as options to consider quickly, but are shared with context.
We consider:
Candidates are given space to reflect, to ask questions and to explore whether the opportunity genuinely fits. It is then that they trust our guidance.
Candidates are prepared properly. They understand the business, the people and the expectations. By doing so, they feel able to be themselves, rather than trying to second-guess what the firm is looking for.
What this creates is a more authentic interaction and an authenticity, where the best decisions are made.
This is where a People-First approach truly stands apart as candidates are encouraged to reflect and make an informed decision.
They are supported in thinking things through carefully and are encouraged to consider not just the role, but the environment, the culture and the long-term implications of the move.
For the right kind of recruitment, the goal is not simply to secure an offer, it is to make the right decision, that is right for the person and the company alike.
Candidate feed back that they feel:
Ultimately, there is clarity and there is confidence that ultimately the decision they are making is the right one for them. We always say, if it doesn’t feel right, don’t do it. This applies to everything in life and especially business and business decisions.
Individuals who feel supported during the recruitment process are more likely to feel settled in their new role:
This creates a stronger foundation for long-term success in which to thrive!
We have a strong “less is more” approach to financial services recruitment, which is individually tailored to the client and the candidate alike.
We believe that when people feel genuinely supported in making one of the most important decisions in their career, the outcome is not just a successful hire, it is the beginning of something much more meaningful and a place where they can build, grow and thrive over time.
If you’d like a confidential informal chat with any of our team, to see how we can truly help you, please do get in touch. It will be lovely to hear from you and find the best ways to help.
Please share this article, if it resonates with you, or if you know someone who would benefit from reading it.
Here are some of our other articles which will also be of interest to you:
If you are looking for something a little bit different, you will also find our storytelling in the form of financial services allegories here: https://www.linkedin.com/newsletters/ifa-all-day-and-every-day-7090355107543797760/
Meet the Truestar Talent team here: https://www.truestartalent.co.uk/truestar-talent/meet-the-team/
A great Financial Services recruiter is holistic in approach. Taking the time to truly understand the culture, ethos and needs of a company and matching these to a great candidate who they have spent time getting to know personally as well as professionally. Honed with decades of Wealth Management experience, Truestar Talent Managers only introduce strong matches that result in long-term successful placements. https://www.truestartalent.co.uk/truestar-talent/meet-the-team/
Truestar Talent believe that all business is personal, it boils down to relationships and how these are nurtured and developed. Taking the time to listen, is truly key to understanding others and seeing things from someone else’s perspective is a common ethos within our team at Truestar Talent. Being named nationally as true advocates shows that we are very aligned in our values and in how we work. We genuinely believe that to help you, we must first understand and then empower you. Read more here: https://www.sme-news.co.uk/issues/uk-finance-awards-2023/12/
Just like a great Financial Planner, we start with soft facts and a full fact find, before going to recommendations that we have researched well. Great recruiters in Wealth Management enable informed choices, by providing comprehensive supporting information and introducing you to people we like, know and trust..
We are national multi award winning Wealth Management Recruiters, with on average, 35+ years’ experience both in financial services and in recruitment, our reach is long and we have wide ranging connections across the industry. We care about people as individuals, both clients, candidates and retiring IFAs who need IFA acquisition introductions.
