[pullquote]There are certain things you must keep in mind if you want to get hired.[/pullquote]
If you are a top producer looking to get hired by one of the wirehouses offering lucrative deals, you may want to know what won’t get you hired.
Even though wirehouses are aggressively hiring top producing advisors by sweetening their packages, they do have some standard guidelines. There are a few things to keep in mind on your job search.
We have seen some top producers that cannot get hired for a few select reasons, including your attitude. Hiring managers want to know you are a team player even if you are one of the highest producing brokers. Be confident without letting your ego get the best of you. They will ask why you want to leave your current firm. Is it because you cannot seem to get along with other advisors in the office? Be cautious when you state your reason for jumping ship.
With all the new regulations placed upon this industry, it should be no surprise that hiring managers want to see a clean compliance report. The more infractions on your FINRA report, the less likely they will want to hire you. If you do have an infraction, please be prepared to explain your situation thoroughly.
It is always a red flag when your FINRA report has you jumping ship every couple of years to another firm. This portrays you as an unstable candidate and not likely to stay with one firm very long. Hiring managers are not about to offer such high paying upfront bonuses to an advisor who won’t last through the contract. Try not to move more than twice in a period of 10 years.
Many high producing advisors have become so successful because they have built a business with high net worth clients. Keep in mind that wirehouses will take clients with a minimal amount of investable assets and may expect you to service them too.
Knowing more information about the hiring process with wirehouses and other firms will help prepare you for the questions that will come up during the interview process. Your answers will depend on whether you get hired or not.