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Financial Adviser Interview Questions

by Heat Recruitment

Are you struggling with your financial adviser interview questions?

With a lack of active candidates seeking a new role, hiring managers in financial services are going head to head for the high-performers who are happy in their current positions. It’s not an easy feat by any means, but the winners in this talent war will be those who have built an attractive proposition and are selective in their sourcing.

If they are to find the right person for the role, firms must conduct proper due diligence when vetting prospects; they must ask the right questions to narrow a shortlist down to only the most competent while promoting their company as an employer of choice. But where to begin?

Below are 8 financial adviser interview questions to consider adding to your interview mix

1. Talk me through your experience

Every candidate will have had a different journey: some begin as paraplanners while others start their financial adviser career in banks or building societies. No matter their background, the perfect financial adviser candidate should demonstrate a strong knowledge of financial products and a passion for helping customers.

2. Describe your ideal client

An experienced financial adviser should have an area of expertise, but this interview question does more than ask a candidate to state their specialism. The answer a candidate gives should provide insight into how they prefer to work and the boundaries of their comfort zone.

3. How do you keep your clients loyal?

The right financial adviser is not only well-equipped with the relevant knowledge to advise clients, they are excellent communicators and know how to nurture relationships. As such, this question should help to unearth your prospective employee’s relationship management capabilities and determine whether or not they cut the mustard.

4. How you decide which products and services to recommend to each client?

Strong financial advisers are analytical, ethical and goal-oriented; they are agile and can combine acquired knowledge with an aptitude for problem solving in order to meet the needs of their clients. This question gives your financial adviser candidates a chance to showcase their adaptability – you can follow this up with asking for examples if necessary.

5. How do you keep abreast of industry developments?

Keeping up to date with sector trends and key changes is essential in adapting a financial strategy for a client and delivering advice that is of relevance and value. As well as the ‘how’, it might be useful to ask your candidates for a few examples of recent developments that have had an impact on your client-base.

6. What values do you look for in an employer?

A financial adviser could be exceptionally talented, but if their values do not align with that of your organisation, friction between the candidate in question and your existing employees could begin to impact on productivity.

7. Ask about their current salary and commission expectations

A face-to-face interview is the perfect opportunity for hiring managers to gauge the expectations of candidates with regard to remuneration. In doing so, they are in a better position to come back with an offer that incentivises their prospective employees to make a move.

8. Describe the type of work environment in which you are most productive

Further to salary demands, this question enables FS hiring managers to get a handle on what motivates financial advisers to write new business and hit their targets. The answer they provide can then inform your employer proposition.

Attracting and incentivising talent is increasingly challenging in today’s candidate-short market so having the right financial adviser interview questions can help you identify (and land!) the talent you need. For more insights, read out new report.

Strategies to effectively recruit and incentivise financial advisers