Resumes can be overrated and probably will be obsolete soon. But in an interview, you need to learn as much as you can about a candidate, including their exact experience.
While most candidates don't try to intentionally mislead, some do. In fact, they've taken great liberties with how they have structured their career history and responsibilities on their resume. Further, they may not even realize they're overstating their qualifications because they don't have perspective on what other certified financial planner programs offer instead.
To help determine if the candidate has the experience you seek in an advisory role, here are some questions to ask:
- How many financial plans have you done from start to finish?
- How many financial plan updates have you done?
To help determine if they have had the responsibility you seek in the technical functions of the role, ask:
- When you aren't sure how to enter something into the financial planning software, what do you do?
- When a client asks you a technical question you don't know the answer to, how do you handle it?
To help determine if they have the experience you need in the sales functions of the role, ask:
- How many prospect meetings have you been involved in? What percent contribution did you make?
- How many client relationships have you brought to the firm?
But Don't Ask These Questions
The goal of an interview is to obtain vital information to determine if the candidate will be a good match. However, as tempting as it may be to engage in friendly conversation during the interview, there are legal restrictions in six areas on the type of questions you may ask.
Here are ways to turn potentially litigious questions into insightful, legal alternatives for those areas.
Nationality
No: Are you a U.S. Citizen?
Yes: Are you authorized to work in the U.S.?
Religion
No: What are your religious beliefs?
Yes: Are you able to work our required schedule?
Age
No: How much longer do you plan to work before retiring?
Yes: What are your long-term career goals?
Marital & Family Status
No: Do you have children or plan to have children?
Yes: Are you available to travel or work overtime occasionally?
