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Talent Acquisition Strategies and Creating a Stellar Client Onboarding Processes · The Perfect RIA

• 0:19
  Amber: Hello, TPR nation. This is Amber Kuhn. Thank you for
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  joining me on today's Follow up Friday where I'll be recapping
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  this week's episode highlights and action items. On Monday Matt
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  was joined by Claire Myers Vitale from Claire Myers
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  Consulting, where she helps advisors build their teams.
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  Claire and Matt discuss compensation which isn't always
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  about having a base and some major bonus structure making
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  offers and when it's the time to bring someone into your team.
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  Claire said when it comes to helping advisors get started
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  with this, that it really all begins with that first
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  introductory call because sometimes what an advisor thinks
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  they want is actually different from what they need. She said it
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  comes back to what value are you providing your clients and are
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  you able to fulfill that value? If you can't, you need to work
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  on what investment you want to make an organization. It's all
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  about what you're trying to accomplish in your practice.
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  Sometimes, though, the question is really whether you need to
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  bring someone on or if your team is just not performing
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  correctly. That's not to make sure you are trying to cover up
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  a bad system by making another hire. Sometimes this is more of
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  a systems issue. Claire said most people need to hire an
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  executive assistant sooner than they think they do. That the
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  second year calendar is at capacity. That's when you should
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  think about hiring someone and it takes between 45 to 60 days
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  to find someone so overall you're looking at around three
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  months or more before you actually are able to bring
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  someone in. As far as what makes an attractive offer, Claire said
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  you have to make sure that you have a really strong value
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  proposition and your ideal client is honed in. She said
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  that compensation is a driver to attracting the right person and
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  equity compensation and a part of some sort of ownership is big
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  as well, especially when it comes to lead advisors. And part
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  of what can be attractive to a potential hire is what you do in
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  your community and how you're helping others. Claire said you
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  can also differentiate yourself with benefits that you offer as
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  well that aren't just about writing big checks. So some
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  examples of those are sabbaticals, community service
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  days, flexibility with time or even finding out something that
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  the potential employee is passionate about that you can
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  accommodate for. These are things that stand out in the
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  selection process. Claire said that if you're hiring someone on
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  your own, you need to make sure you understand what kind of
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  culture you want. Be sure to screen for that. Let's get into
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  action items. If you need to add team members, use a recruiter.
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  Hire someone to help you through this. Of course we've linked
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  Claire's information if you'd like to connect with her for
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  your needs, work on your value proposition. Take what you use
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  for your clients and flip that into attracting the right
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  talent. With that, look at your LinkedIn presence and post your
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  community involvement and client testimonials. Now if you are
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  going to hire someone on your own, utilize Chat GPT for your
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  job description. If you're going to post on LinkedIn, sponsor it
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  and don't leave it up longer than a week. Lastly, something
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  that was near to Claire's passion is to look up foster
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  care closets in your community. Thursday was an encore episode
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  of Worlds to Conquer where Jamie walked through the onboarding
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  process for what happens once you get hired by a client
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  focusing on creating a solid foundation and what to do during
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  that first year to deliver massive and how does that work
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  during surge? With Client Onboarding, Jamie said you need
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  to hit a homerun once the prospect has said yes and hired
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  you. You need to make sure that you truly have a plan for what
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  you're going to do for the rest of the year to deliver massive
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  value. Especially when you get hired by a client at the
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  beginning of surge and you're not available to meet with him
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  for a couple of months. Jamie said setting those expectations
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  from the get go is so important. And it's something that you set
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  when they're a prospect because they already know that they can
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  expect to meet with a financial advisor immediately. In some
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  instances the new client might meet with an advisor during a
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  buffer day at the end of surge. But if not in in the meantime,
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  they have all the homework outline for both what the
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  advisor and team needs to do, as well as what the client needs to
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  do in between the time that they're hired and their next
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  meeting. And they go through all of this list with the client.
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  They provide action items for the client at the end of their
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  meetings and attach deadlines that the client agrees to. If
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  that time has passed without the client providing that
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  information, then the RM or the ops team can reach out depending
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  on what that item is. Jamie said you want to make sure that
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  you're giving the client small digestible tasks and milestones
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  that they can achieve. When Jamie's talking with clients for
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  their onboarding, she compares the building their financial
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  plan to building a house and how it all starts with a good
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  foundation. And that estate planning needs to happen first
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  because without it, nothing that they put together matters. And
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  it's something that clients will want but also hoarsely tackle
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  this first. And she sets the expectation for what they'll be
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  discussing in each meeting. And so of course, every time they
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  meet she's reinforcing what they're doing and what they're
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  trying to accomplish. Jamie will also talk about cashflow and a
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  client spending plan and incorporating that into their
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  financial plan. And this is something that we'll talk about
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  at every single meeting. They'll go through goals, tax planning,
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  investments and insurance but all of this is shared as things
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  that they'll be discussing over the next couple of years. And in
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  every meeting over the next couple of years, Jamie will
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  reference building that house and comparing it to the
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  financial plan and reinforcing what they're doing. Jamie
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  mentioned that it's easy to have head trash about not having
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  contact with clients in between meetings. And she said the best
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  fix for that is to check your CRM to see that communication
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  between the client and your team. It's a reminder that the
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  client will have multiple points of contact but they don't always
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  need to talk to the financial advisor directly on things. And
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  it's okay to set standards with your client so that they
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  understand who they'll be communicating with and that it
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  won't always be with the financial advisor. Let's get an
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  action items. Remember that you need to set good expectations.
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  Whatever you said in the beginning is what will last
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  until the very end. You can't expect your team to follow all
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  the processes you've laid out. If you can't make an exception
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  so do what your say you're going to do. Make sure to lay out what
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  your financial planning process will be for your clients so they
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  understand how things will be achieved over time. Check your
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  CRM to see all the points of contact and put the words for so
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  that you're only talking to clients every couple of months.
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  But the team is talking with them more frequently. And trust
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  in your processes, your systems and in your team. Before we go
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  TPR Nation if you're looking for an opportunity to learn in
• 6:43
  person from Matt and Micah, be sure to join us this September
• 6:46
  TPR LIVE in Arizona. Visit theperfectria.com/live for more
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  information and to save your spot. And if you're interested
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  in our upcoming master class on prospecting, email us at
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  lifestyle@theperfectria.com. That wraps up this week's recap!
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  Thank you for joining me and please share this or any of our
• 7:02
  episodes with another advisor or a team member who you think
• 7:05
  might benefit from listening. And be sure to subscribe to The
• 7:09
  Perfect Ria Podcast so you don't miss an episode. Until next
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  time, happy planning!