Expert career tips for the Advice sector post-royal commission

Expert career tips for the Advice sector post-royal commission

Change is upon us and while many have mixed emotion regarding this, others have been heavily affected. Banks and large institutions have been key drivers for this much-needed revolution however, while many are pleased to see this movement, others are overlooking the reality of who is actually being affected by it.

With the royal commission creating movement and opportunity alike, one thing that has really hit home has been the number of loyal employees who are being made redundant due to changes. With financial planners always being in the spotlight at the moment regarding losing their jobs, many who supported these advisers are unfortunately also in the firing line.

While most are embracing the change, others are struggling to adapt. Many potential candidates who have been highly loyal employees are now required to look for a new position and attend interviews for the first time in over 10 years. This new world of recruitment can be exciting but also very overwhelming for some.

As a recruiter, we always try our best to help as many people as possible but unfortunately, we just can’t help everyone. For this reason, I would like to highlight some trending questions and provide some advice for anyone who might be new to the Wealth Management market;

 

Resume formatting…

  • Something we hear about daily is education requirements. For this reason, I always recommend individuals to format their education near the very top.
  • Outline your achievements. Don’t ever undersell yourself. Hiring managers take note of these, as do recruiters. These achievements can be what makes you stand out against others.
  • Don’t overload information. Have 2 to 3 pages max and just ensure the most relevant information is in there.
  • Remove personal information such as your age or your marital status.


Interview tips…

  • First impressions always last so always arrive on time and in business attire.
  • Research, research, research! Ensure you research the business, what the position entails, who you’re interviewing with.
  • Depending on the company, everyone’s interview process will be different. For example, one client may be very relaxed while another maybe structured with a list of behavioural questions. For this reason, prepare for both. However, if you go through a recruiter, they should set expectations to ensure you are fully prepared.


Cover letter or no cover letter… (the most famous debate!) 

  • Personally, my view is they are not required, especially if you are working with a recruiter. However, if applying directly and it’s a requirement then yes add one.
  • Ensure to tailor your cover letter to the job you applying for. DO NOT have a standard template you send to everyone, the more personalised the better.


Be open-minded…

  • Don’t be afraid to consider a contract role. Due to the volume of change, I am continuously recruiting new roles within different projects in either a daily rate or fixed-term contract. Many of our contractors have been extended, gone perm or moved internally into new roles.
  • Contracting can give you the opportunity to try something new or broaden your skillset. This is relevant to candidates as well as hiring managers, take time to think about the skills you have developed throughout your career or the skills that are desirable in a role.
  • There’s a tendency for people to either pigeon hole themselves or be pigeonholed into a certain role. The immediate reaction is to look for a role or to hire a candidate in a like for like role. However, in this current environment, it’s not recommended to take that approach to either a job search or a hiring decision, particularly with the number of relatively new roles within Advice.

While it all comes down to mastering the basics, it is always helpful to speak to someone for additional advice. Profusion’s Advice and Wealth Management recruitment team have over 25 years’ experience with each consultant specialising in their own area. Feel free to reach out to any of our consultants if you need any assistance with your job search.


Sydney

Chris Gordon – https://www.linkedin.com/in/christophergordon1/
Kimberley Wenn – https://www.linkedin.com/in/kimberleywenn/
Aaron Davies – ttps://www.linkedin.com/in/aaron-davies-0b2706108/

Melbourne

Steve Kelly – https://www.linkedin.com/in/steve-kelly-78b73385/