Caleb Brown of New Planner Recruiting - How to Find the Best Talent for Your Firm

Jan 9, 2024

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As we move into the New Year, and firms are in the process of creating formal growth plans and budgets, we take a closer look at what it takes to find and keep new talent. In this episode, Rusty and Robyn are joined by hiring expert Caleb Brown, Co-Founder and CEO at New Planner Recruiting in Athens, GA. Caleb weighs in on strategies for financial advisory firms looking to recruit top talent and strategies for talent to find the best firms.

Key Takeaways

[03:05] - Caleb’s diverse professional background and his role at New Planner.
[05:39] - A macro assessment of the financial planning industry’s future growth
[06:52] - What salary and hiring trends is Caleb seeing in the financial planning space?
[08:29] - How might artificial intelligence impact the financial planning profession?
[10:32] - How big of an impact does the CFP credential have on getting a job in the industry? How does it impact your compensation level and attracting prospective clients?
[14:02] - What advice does Caleb have for financial planners looking for fresh talent?
[17:56] - What are best practices for creating enticing job listings?
[21:18] - How long is a typical hiring cycle and how does that differ if you are hiring a recent college graduate, a career changer or an experienced planner?
[23:17] - How does the recruiting process differ for Gen Y than for other generations?
[29:24] - How should people gauge if they are a good fit for the financial services profession?
[32:51] - What is Caleb’s favorite investment idea currently?

Quotes

[07:29] - "What we do is we ask all the candidates that we’re talking to, so it’s a little different from the other surveys out there that are having firm owners fill out how much they pay their people. We’re asking the candidates, because in my world what someone is making now is irrelevant - it’s, what is it going to take for them to look at something else?" ~ Caleb Brown

[28:22] - "I would say to try to promote people probably before they’re ready. Put them in there, let them take a swing…Looking back at my career, you know I was probably just a run of the mill, average candidate, but someone was constantly pushing me out of my comfort zone every day…I look back and I can’t believe all of the stuff we achieved at that firm." ~ Caleb Brown

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Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.