April 1, 2014
By Mindy Diamond
It seems that every wealth management shop hypes their firm’s “culture” as the best thing about it. But what does “culture” really mean?
While it might be hard to articulate, culture is king, and it is often the deciding factor when it comes to making a choice between staying with one’s own firm or joining another.
In an effort to convey their culture to financial advisor recruits, many firms invite prospects to their home office or similar due diligence meeting. During that time, the advisor will meet firm representatives from relevant product areas, other advisors, senior leadership and transition specialists. How accessible is the top management? How is the advisor viewed throughout the organization? Who owns the client? To what extent does the advisor feel like a person as opposed to a number? All serve as clues to the cultural climate.
