How does an HR outsourcing firm train new advisors to take on client accounts?

Ask for the onboarding plan for the last advisor hired. A real plan names the steps, the people involved and the point at which the advisor starts working alone. A vague answer such as "they pick it up" is information too. Request any checklists, templates and account notes that new advisors use.

Then speak with a recent hire, if the seller allows it. Ask what the first month looked like, which account they started on and how often their work was reviewed. Ask what they wish they had been told. A recent hire will usually describe the gaps more freely than the owner.

Finally, think about the clients. Do they get told when a new advisor takes over? Did any client leave around a handover? Ask how the firm keeps notes so an advisor can pick up an account mid-stream. If one senior person trains everyone, ask what would happen if that person left after the sale. Ask what the firm does when an advisor is not ready, and whether anyone can pause a handover when the advisor or the client is uncomfortable.

Key takeaways

• Ask for the written onboarding plan used for the most recent advisor hired.
• Speak with a recent hire about what training was actually like.
• Check whether client notes are good enough for a new advisor to pick up mid-stream.
• Ask what happens when a new advisor is not ready to take an account.