Looking to hire junior associate - where do I start?

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Jan 9, 2011 12:43 pm

I'm a wealth manager in NJ with high net worth clients at an independent financial planning shop.  We are looking for a junior associate (2-5 years experience) who wants to leave the wire house environment and help grow our investment practice.  Offering base and bonuses.  I have only hired administrative staff through Craigslist, Monster, etc.  Not sure where to begin my search.  I would prefer not to use a headhunter.  Appreciate if anyone has ideas or resources to find such a person.  Thanks!

Jan 9, 2011 2:23 pm

I would go to the websites of your local wirehouse branches, and look thru the FA's there, pick out the younger ones, with no VP titles next to their names, and start calling

Your ideal candidate is not looking to make a move so early in their career

Jan 9, 2011 2:36 pm

NY ... I might know a guy. Where in NJ?

Jan 9, 2011 3:07 pm

Morristown/Parsippany area

Jan 10, 2011 11:15 am

Contact schools that teach finance, econ, ask them if anyone graduated a few years back, that has stayed in touch with them, where the opp might fit. Talk to some wholesalers. Talk to some older senior reps, that have sons or daughters in the field that might be looking for a better fit. Go visit some bank branches, ask for the rep in the branch. Newspaper ads might not be a bad idea either, but spell out what you are really looking for.

The key to success in developing this position, is going to be a careful balancing act of values/benefits that are mutually beneficial. Fail in that area, you'll regret you ever went into this direction. I have a fair amount of experience in dealing with this kind of stuff, from both sides of the equation.

My Broker Dealer, an Indy firm, actually helps reps with this subject matter. You might ask if yours does?