How to Hire a Financial Advisor

Does your growing business need a financial advisor? Financial advisors help individuals and businesses with long-term financial planning, such as investments, saving and paying for school, retirement, purchasing a home and reducing debt.

Here are some tips to help you find great financial advisor candidates and the right hire for your business.

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Financial advisors searching for jobs on Indeed*

135,149

Job seekers that clicked financial advisor jobs

22,721

Resumes for job seekers with financial advisor experience on Indeed

6,569

Financial advisor jobs that received clicks

What is the cost of hiring financial advisor?

  • Common salary in US: $70,603 yearly
  • Typical salaries range from $14,000$191,000 yearly
  • Find more information on Indeed Salary

*Indeed data (US) – April 2021

As of April 2021, financial advisor jobs in the U.S. are moderately competitive compared to other job markets, with an average of 21 job seekers per financial advisor job.

Why hire a financial advisor?

Finding a great financial advisor can help your business:

• Select investment and retirement plans for your employees
• Plan equipment purchases and paying off debt, as well as investing in or acquiring other businesses
• Align investments with current and future taxation

Deciding between a full-time vs freelance financial advisor

Depending on the services in need, individuals and businesses can hire a freelance financial advisor if they’re looking for one-time or short-term financial advice, such as if their investment strategy is on track. They can also advise where there are areas of weakness and how to reduce financial expenses. Freelancers can give executives a second opinion on their full-time advisor’s proposed plans.  

Large businesses that need regular financial advice, however, should look into hiring a full-time financial advisor who can fully examine its financial situation and construct plans that meet the company’s long-term goals. They can also offer ongoing investment advice to grow the company’s profits, including how to optimize its ROI. 

What are the types of financial advisors?

There are a few different kinds of financial advisors that give clients guidance on various aspects of the financial world. These advisors include:

  • Investment advisors: Investment advisors specialize in giving clients advice on finances. They’re also available to manage clients’ assets.
  • Brokers: Brokers buy and sell stocks and bonds on behalf of their clients. They’re typically affiliated with the Financial Industry Regulatory Authority.
  • Certified financial plannerA CFP holds a certification with the Certified Financial Planner Board of Standards. They offer clients advice on how to save for retirement, pay their debts, create budgets and make investments. 
  • Financial coach: Financial coaches offer advice to clients while focusing on basic financial strategies. They help their clients reduce spending and save money.  
  • Wealth advisor: A wealth advisor typically works with extremely rich clients. They offer assistance with tax preparation, estate planning, health insurance and investments. Wealth advisors typically have minimum requirements in the millions. 

Where to find financial advisors

To find the right financial advisor for your business, consider trying out a few different recruiting strategies: 

  • Post help wanted signs. By posting help wanted signs, you can notify the community about the position and attract potential candidates.
  • Maintain relationships with colleges. Many future financial advisors earn degrees. Make inquiries at local colleges to see if there are any graduates who’d be interested in the job. 
  • Search online. Established financial advisors might advertise their services on social platforms. Reading their profiles can help determine if they’re a good fit for your company. 
  • Network. Ask other members of the financial community if they know of any financial advisors who are searching for work. 
  • Post your job online. Try posting your financial advisor job on Indeed to find and attract quality financial advisor candidates.

What are the types of financial advisors?

There are a few different kinds of financial advisors that give clients guidance on various aspects of the financial world. These advisors include:

  • Investment advisors: Investment advisors specialize in giving clients advice on finances. They’re also available to manage clients’ assets.
  • Brokers: Brokers buy and sell stocks and bonds on behalf of their clients. They’re typically affiliated with the Financial Industry Regulatory Authority.
  • Certified financial plannerA CFP holds a certification with the Certified Financial Planner Board of Standards. They offer clients advice on how to save for retirement, pay their debts, create budgets and make investments. 
  • Financial coach: Financial coaches offer advice to clients while focusing on basic financial strategies. They help their clients reduce spending and save money.  
  • Wealth advisor: A wealth advisor typically works with extremely rich clients. They offer assistance with tax preparation, estate planning, health insurance and investments. Wealth advisors typically have minimum requirements in the millions. 

Writing a financial advisor job description

A thoughtful description is important to find qualified financial advisor candidates. A complete financial advisor job description includes a compelling summary of the role, a detailed list of duties and responsibilities and the required and preferred skills for the position.

When writing your financial advisor job description, consider including some or all of the following keywords to improve the visibility of your job posting. These are the most popular search terms leading to clicks on financial advisor jobs, according to Indeed data:

  • Finance
  • Financial advisor
  • Remote work from home
  • Financial planner
  • Wealth management
  • Series 7 
  • Investment
  • Financial 
  • Financial services
  • Financial aid

Interviewing financial advisor candidates

Strong candidates for financial advisor positions will be confident answering questions regarding:

• Investment products and the likely tax burden
• How they handle dissatisfied clients
• Their approach for building long-term clientele

Need help coming up with interview questions? See our list of financial advisor interview questions for examples (with sample answers).

FAQs about how to hire a financial advisor

Should I hire a financial advisor for my business?

Although it isn’t required to hire a financial advisor for a small business, it’s recommended. Financial advisors can help business owners consider financial matters that can reduce operating costs and raise revenue. 

How hard is it to financially advise yourself?

Even if you have a background in finance, it could be beneficial to your business to hire a financial advisor. An advisor can look at your finances with fresh eyes and help you notice things you may have missed. If you want to handle financial matters yourself, it may be helpful to occasionally hire a freelancer to give advice. 

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