Working with Junior Advisors

Last Edited by: LPL Financial

Last Updated: November 09, 2022

Working with Junior Financial Advisors

[Junior Advisors] provide a unique set of skills that will add value to your practice now, and its success in the future.

Cultivating the Next Generation of Advisors

Even if your practice has many experienced and successful advisors, it may be time to start thinking about the next generation. While hiring and mentoring junior advisors may feel daunting at first, they provide a unique set of skills that will add value to your practice now, and its success in the future.

Why should you hire junior advisors? 

They are tech savvy: Junior advisors are typically more comfortable with the digital platforms and social tools that can aid in the success of your practice. These tools can help you attract new clients, and spend more time with pre-existing ones.

They relate to younger clientele: The demographic of financial advisors is aging, and whether you’ve noticed or not, potential clients are getting younger. Millennials and younger customers are more likely to relate to an advisor closer to their age and life experience.

They help you grow: By taking over smaller accounts and newer clientele, junior advisors can allow you to focus on building and maintaining your personal relationships with clients. Additionally, younger advisors can bring in more assets and clients for your business.

They provide a succession plan: If you don’t already have a succession/transition plan or potential successors on the horizon, junior advisors offer an ideal solution. By mentoring them now, you can train them to run your practice the way you do, and its success after you step down.

What does a junior advisor do?

Junior financial advisors are much more than just administrative assistants. Some may have more defined roles such as a paraplanner, service advisor, support advisor etc. while others may work in a broader capacity. Whether they’re handling the research and preparation for a client meeting, handing client follow-ups, or managing the day-to-day with clients, junior advisors can prove invaluable to your practice.

How to find junior advisors and what to look for

While using digital platforms is essential if you’re looking to recruit junior advisors there are many ways to find potential employees in this demographic. Online job boards including LinkedIn and Indeed have proven highly successful for younger professionals so utilizing these is a good first step. In addition, consult your professional network for leads on prime candidates and consider participating in college career fares. Placement offices can be a good option as well. Make sure to keep in mind salary and compensation considerations as well.

While interviewing candidates, consider the importance of soft skills vs business skills in hiring decisions. While you can teach new employees the ins and outs of the financial industry, you can’t teach intrinsic alignment with your practices culture and values. Some soft skills to look for include:

  • Integrity
  • Strong work ethic
  • Technical knowledge
  • Problem-solving skills
  • Values that mirror yours
  • Willingness to buy into your long-term vision for the business

Once you find junior advisor candidates with the skills you are looking for, you can look forward to hiring an employee that can help you and your clients in the present, and the success of your practice in the future.



The views and opinions expressed by LPL Financial Advisor(s) may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered. 

Attract Clients From All Generations

Learn more about the wants and needs of millennial, gen x, and baby boomers and how to attract them as clients.

Going Digital

Improving the tools and technologies used at your practice lets you focus more on client’s needs and the growth of your practice.

LPL’s Business Services

LPL Financial can provide the tools, services, and support you need as an advisor to manage your business.