Finding the Right Fit: Insights from an RIA Recruiter on Hiring Advisory and Service Professionals

Estimated Time to Read: 4 minutes 

From the desk of Shani Servetter, President, GemHarvest, whom works with boutique Wealth Management firms around the country. Roles he places include: Financial Advisors, Planners, Client Service Associates, Relationship Managers, and more.

As someone who has spent years recruiting for boutique RIAs and Wealth Management firms across the country, I know firsthand how challenging it can be to find the right talent. On the client-facing side, you need a sharp, empathetic advisor to build and maintain client relationships by addressing their financial concerns through comprehensive investment strategies and personalized financial planning. A great advisor not only listens to your client’s goals and fears but also provides clear, actionable guidance that aligns with their long-term financial well-being. On the operational and administrative side, you need a detail-oriented client service professional who not only keeps operations running smoothly but also serves as a vital client touchpoint. They’ll handle inquiries, ensure clients feel valued through responsive service, and protect advisors’ time by efficiently managing requests and processes. Both roles are vital to your firm's success, but they require different skill sets and qualities. Based on my experience working with many firms and countless candidates, here’s what I’ve seen make the biggest impact.

Advisory Roles: Building Trust and Delivering Expertise

A client-facing advisor is the face of your firm. They create and strengthen relationships, provide financial advice, and ensure clients feel supported and understood. By building trust and offering personalized advice, advisors not only enhance client satisfaction but also foster long-term loyalty, which directly contributes to the firm's growth and profitability through referrals and retained assets. Here are the key qualities to look for:

1. Emotional Intelligence (EQ)

Empathy, active listening, and interpersonal skills are crucial. Your advisor should be able to pick up on what clients are saying—and what they’re not. According to a study by Forbes, high EQ advisors build trust faster, leading to stronger client loyalty.

2. Technical Expertise

Advisors need deep knowledge of financial planning, investment strategies, and regulatory requirements. On the tech side, you’ll also want them to be familiar with financial planning and portfolio management platforms, among others. Licensing and designations like the CFP or CFA signal competence, but continuous learning and curiosity are equally important.

3. Proactive Problem-Solving

Great advisors anticipate client needs. For example, I recently worked with an advisor who noticed a client was approaching a significant liquidity event but hadn’t yet reached out for guidance. Instead of waiting, the advisor proactively scheduled a meeting, outlined tax-efficient strategies, and introduced investment options tailored to the client’s long-term goals. The client was not only relieved but also deeply appreciative of the foresight—reinforcing trust and strengthening their relationship with the firm. Whether it’s revising a retirement plan in light of tax law changes or addressing concerns about market volatility, they’re always a step ahead.

4. Articulate Communication

Financial concepts can be overwhelming. The ideal candidate can simplify complex ideas without talking down to clients. They should leave clients feeling empowered and informed.

Client Service Roles: The First Line of Client Experience and Operational Excellence

Client service professionals can play an equally important role in your firm. They are not just behind-the-scenes operators; they are often the first point of contact for clients. Whether on the phone, over email, or in person, they ensure that clients receive responsive, white-glove service—reinforcing trust and strengthening relationships. Beyond handling operational tasks efficiently, they play a crucial role in maintaining client relationships. Their ability to provide quick, accurate, and friendly assistance directly impacts client satisfaction, fostering long-term loyalty and retention. This level of service frequently leads to increased client referrals and contributes to the firm's growth. Key qualities here include:

1. Detail Orientation

Occasional errors can erode client trust. Whether it's processing paperwork or managing client data, your client service team needs to catch the small errors before they become big problems.

2. Strong Organizational Skills

Client Service roles demand multitasking. From scheduling client reviews to coordinating with custodians, your candidate should thrive in a fast-paced environment.

3. Tech-Savviness

Most boutique RIAs rely on tools like CRM systems, portfolio management software, and custodial platforms. Look for someone comfortable learning and leveraging these tools efficiently.

4. Service Mentality

A great client service professional takes pride in not only handling details flawlessly but also making clients feel valued and prioritized. They act as a buffer for advisors, allowing them to focus on strategic planning while ensuring that clients receive top-tier service at every touchpoint. Their goal is to make every interaction—even routine tasks—feel effortless for clients.

Side-by-Side Comparison: Advisory vs. Client Service Candidates

From my experience, firms that succeed in hiring the right people understand the nuances between these roles. Here’s how their key qualities compare—and why both are essential for a thriving firm:

Finding Balance: A Unified Team

While these roles require different strengths, I’ve observed that a cohesive team thrives on shared values. For example, firms that prioritize transparency and proactive communication across both advisory and client service roles often see higher client retention and satisfaction. When everyone shares a commitment to responsiveness and personalized service, clients feel valued and understood—leading to deeper relationships, increased referrals, and long-term growth for the firm. When advisors and client service professionals align on shared values, they create a consistent client experience that fosters satisfaction and loyalty. This, in turn, drives the firm’s growth and profitability by strengthening client relationships and encouraging referrals.

Both advisors and client service professionals should embody:

• Client-Centric Mindsets: Every team member’s focus should be on delivering an exceptional client experience.
• Adaptability: In a boutique RIA environment, everyone wears multiple hats. Flexibility is key.
• Cultural Fit: Technical skills can be taught, but alignment with your firm’s values is essential.

The Bottom Line

My experience is that hiring for boutique Wealth Management firms requires a nuanced approach. Advisors need to connect, strategize, and communicate, while client service professionals must execute with precision and care. By focusing on the distinct qualities each role demands, you’ll build a team that complements your vision and delivers unparalleled value to clients. Together, these roles enhance client satisfaction by combining personalized advice with exceptional service. This synergy not only strengthens relationships but also drives the firm's financial success through increased loyalty, referrals, and long-term client retention.

If you’re looking to make your next great hire, we’d love to help. GemHarvest Executive Search specializes in connecting boutique RIAs with top-tier talent for advisory, client service, and other critical roles. We listen deeply to gain an understanding of the unique needs of your firm and are dedicated to helping you find candidates who not only meet the technical requirements but also align with your firm's values and culture. Partnering with us means that you'll build a team that enhances client satisfaction, drives loyalty, and contributes to long-term growth and profitability.