Hiring Strategies in a Tight Labor MarketWealthMangement.com
June 25, 2019
According to Matt Burt, director of professional services at Fi360, Inc., plan consultants typically evaluate capacity, financial impact and workload when they consider adding staff. Fi360’s surveys have found that taking on 25 new plans is one commonly used metric, as is the projection of $250,000 to $275,000 in additional annual revenue. Timing a hiring decision can be more art than science, Burt cautions, but lately, financial indicators have become more influential in advisors’ decisions.