Financial Advisors have no shortage of options when it comes to finding a work environment that suits their personalities, work styles, and professional goals. From the support and institutional structure of a wirehouse firm to the independence of an RIA, Financial Advisors have the freedom and flexibility to choose a work structure that best fits their needs. But this wide variety of choices may leave some advisors asking: how do I find the right culture to strengthen and grow my business? Learn what questions to ask, and how to find the best answers.
What Do We Mean When We Talk About Culture?
A lot of firms discuss “company culture” without carefully defining the terms they’re using. When we talk about culture, we’re talking about a company’s ethos and the practices, values, and goals that an organization espouses. Your company’s core values, the benefits it affords employees, and its approach to work hours and work/life balance all play a role in shaping the culture. Even things like hours of operation, attitudes toward remote work, and dress codes can reflect and help to shape the culture of a workplace.
Company culture is reflected in more than just the way employees are treated, however. The way in which a firm approaches its work, including its client service standards, its investment philosophy, and its workflows for investment, are all things that candidates should consider when evaluating whether a firm’s culture will be a good fit for their own philosophy.
Why Is Culture Important?
Culture is important for Financial Advisors on a number of fronts. First, and most importantly, no one wants to work in a place that doesn’t make them feel happy and successful. Finding the right cultural fit for your philosophy is a stepping stone to increased career success, financial growth, and overall satisfaction.
Second, company culture impacts your opportunities. As a Financial Advisor, your firm’s core competencies and overall philosophy are things that potential clients will look to in deciding whether to invest with your firm. More and more, clients want to invest with firms and advisors who share their values and align with their principles. Advisory firms that prioritize diversity, ethical investing, and transparency are particularly attractive to sophisticated investors who are willing to do their research before choosing a partner. As an advisor, try to see potential employers through a client’s eyes as you evaluate whether their culture will be a good fit for the type of practice you want to build.
How Can Advisors Evaluate Firm Culture?
Every prospective employer loves to tout their company’s culture, but how can you evaluate these claims and determine whether a particular firm is a good fit for you?
Start by asking questions. In your interview, asking about the firm’s investment philosophy is a great way to assess the firm’s culture — and to assess whether the ideals the firm espouses are actually percolating down to the advisors as they go about their day-to-day. Asking this question can also be a great way to assess whether the firm’s philosophy and practices align with your own work style.
Talking to other current or former advisors is another excellent way to assess whether a firm’s culture will be a good fit. Outside of a formal interview, advisors may be willing to answer specific questions and even offer their own experiences.
Finally, seeking out expert guidance is an invaluable part of assessing whether you’ll mesh with an advisory firm’s culture. Here at Terrana Group, we’ve worked with firms of all types and sizes, and we understand that finding the right corporate and investment philosophy is a big part of what makes a relationship successful. We can answer your questions and help you understand what kind of firm might be best for you as you strive to take your career to the next level.
Want to Keep the Conversation Going?
Looking to find the perfect fit for your financial advisory practice? All of us at Terrana Group welcome the opportunity to consult with you to determine the right platform for you going forward — one that satisfies your long term objectives and is also best for your clients!
Over the course of nearly 30 years, we have helped facilitate thousands of professional placements for Advisors, with client assets transferring exceeding $67 billion dollars. We have completed placements in most every major city throughout the United States, while building deep relationships with the advisory world’s most sophisticated and notable firms — including Wall Street brokerages, most Regionals, Boutiques, Banks, Independent Broker Dealers, RIAs and Custodians. We have a broad knowledge of the deals that are currently being offered and will ensure that you are being presented with the offer which will be best for you.
Confidentiality, professionalism, and respect are protocol to our practices and beliefs; we handle each and every step of the placement process with complete communication, keeping you informed while making the process smoother from beginning to end.
We are proud to always be considered as a great asset by our clients because of our proven expertise, many years of knowledge, and acute attention to detail. Financial Advisor Recruiting Services are not all created equal; we guarantee that the TG experience for clients and candidates is always world class.
We are based in Chicago, with a nationwide reach. Let us know you are interested by contacting us today. To get the conversation started, email info@terranagroup.com or give us a call at 312.655.8380 today.
