Wealth management jobs are not tricky to come across. In fact the industry is booming due to a number of more experienced IFAs reaching retirement age. As a result, securing the ideal role for you often involved networking and building relationships. 

The question often arises: Should you engage with an internal recruiter, representing a specific financial advisory firm, or an external recruiter on behalf of a specialist wealth management recruitment firm.

At Zatori, we've encountered various experiences on both fronts. Here are the key considerations for selecting a wealth management recruiter, regardless of their affiliation.

1. Understanding Your Ambitions

A successful recruiter-candidate relationship hinges on understanding. It's not merely about checking boxes but delving into your aspirations, motivations, and the essence of your career goals.

A reputable wealth management recruiter invests time in comprehending your unique journey, aligning opportunities with your long-term aspirations.

2. Honest Communication

Transparency is paramount. Top wealth management recruiters maintain honesty, even when delivering challenging news. They openly discuss potential mismatches between you and a role, historical bonus structures, or company turnover rates. Genuine conversations foster informed decisions which is critical to you making the right decision with your career.

3. Credibility and Industry Insight

Assessing a wealth management recruiter's credibility is crucial. Do their perspectives align with your industry understanding? Are they well-versed in wealth management intricacies and current hiring trends? Depth of expertise matters significantly in building trust in their advice.

On a basic level do they understand the difference between restricted and independent advisory firms?

4. Understanding Compensation Models

Understanding how wealth management recruiters are compensated provides valuable insights into their motivations and priorities, shaping the nature of your collaboration.

Internal Recruiters: These professionals provide an invaluable insider's perspective as they can be entrenched within the company they represent. However, their focus may lean more towards their organisation's needs, potentially limiting their broader wealth management market insight compared to external recruiters.

No Win No Fee Recruiters: Offering a wide spectrum of opportunities, these wealth management recruitment firms operate under the standard compensation model where their earnings hinge on successful placements. While this can present a diverse range of wealth management jobs for candidates, it's essential to recognise that their incentives might be skewed towards encouraging job transitions rather than considering the best fit for your career goals.

Retained Recruiters: Retained recruiters operate within a wealth management recruitment firm. They receive an upfront portion of their fee to conduct the search, allowing them to focus on understanding your needs and goals. Their priority is filling the position, leveraging their in-depth knowledge of the business, role, and recruitment process. Similar to no win no fee recruiters, a significant portion (around 30% - 50%) of their pay is contingent upon successfully filling the retained position.

Partnership Recruiters: Blending elements of both internal and retained models, partnership recruiters offer a balance between insider knowledge and dedicated service. While they may not cover the entire market, they collaborate closely with select firms, enabling them to provide tailored guidance and across a broad range of wealth management jobs. Their compensation typically revolves around a monthly payment structure, fostering sustained engagement and ensuring their commitment to your success extends beyond immediate placements.

Choosing the Right Fit

At Zatori, we predominantly employ the partnership model, striking a balance between internal and external expertise. However, the ideal wealth management recruiter resonates with your unique needs and preferences. Explore different options and put recruiters to the test. Your  journey deserves a dedicated partner who champions your success.

Ready to advance your wealth management career? Speak with Martin who has over a decades worth of experience within the wealth management recruitment.