Recruiting 101, a Series - Michael King

January 24, 2024

2024, A New Year Of Financial Industry Transition, an interview with Michael King

From the desk of Stephen Kohn, Founder and Chair of Financial Professionals Coalition (www.finprocoalition.com) and a 25-year veteran owner of a FINRA broker-dealer, a, former member of FINRA’s National Adjudicatory Council and a Former Governor on FINRA’s Board. 

The Financial Professionals Coalition, Ltd. is a diverse resource for over 1.2 million registered representatives, associated persons, traders, bankers, back-office staff, and owners of broker-dealers and registered investment advisors. The Coalition provides courtesy consultations with industry experts. Membership is free.

Based on the turmoil of 2023 consolidations, hirings and firings, the Coalition introduces its Founders who are top-level, financial industry recruiters and stand ready to help you make transitions and find a new home. Here is the second in a series of introductions.

Introducing Coalition Founder, Michael King.

Michael King is President of Michael King Associates, a Management, Consulting, and Executive search firm specializing in retail brokerage. The firm has been in business for thirty-two years and specializes in placing retail brokers nationwide. Prior to forming Michael King Associates, Mr. King was employed at Richards Consultants for four years, a Management, Consulting, and Executive search firm, specializing in financial services. He has been quoted in national publications, such as The New York Times and The Wall Street Journal, as well as and trade publications, such as On Wall Street and Registered Rep Magazine. The publications are highly regarded among brokers across the country.

1.     Why should financial professionals use a recruiter rather than try to find a job on their own by sending out resumes or answering help-wanted ads?

Michael:  “Our job is to provide guidance to the financial advisor as well as the hiring firms. We know what to ask for, when to ask for it, and  how to review everything in an offer We will help you get the best offer possible. Our fees are totally paid by the recruiting firms. It does not affect your offer at all . If anything, it will enhance your offer.”

2.     What are the costs to the financial professionals of working with you -- and if there are none, are you conflicted by getting paid by the employer?

Michael:  “The cost is zero! there is no conflict. We are there to represent the FA as well as the firm. Michael King Associates calls itself the “Matchmakers.”  We match the candidate with the right firm.”

3.     What are some of the unique services that you and your company offer?

Michael;  “Helping looking at multiple firms, & channels - employer, independent & RIA!  Help in Pairing down the choices and we work with you on what you were seeking - the kind of work environment you want and support services provided, etc.  The deal is not the only thing we help you with!”

4.     What are some of the most common mistakes folks make during the hiring process?

Michael;  “The biggest mistake FAs make is saying yes to  an offer  without first reviewing it with the recruiter!  We know everything that should be included.  You are not an expert in this area and can often miss fine print items that will help you at your new firm.”

5.     What are some of the most common mistakes employers make when seeking out staffing?

Michael:  “Employers don't always look under the hood enough to be sure the business being done is a match for the firm. We always advise firms to look beyond the figures and look in depth at where this FA wants to go.”

6.     What is your forecast of the 2024 employment scene for financial professionals?

Michael:  “Deals remain very high, the highest I've seen in over 40 years in the business.  Call us , text us, email us.  These transition numbers were not even dreamt of even 5 years ago.  We are the recruiters here to help YOU!”

Join the Financial Professionals Coalition, membership is free, as is access to Michael King’s recruiting expertise, in addition to a vast array of referral resources.

Financial Professionals Coalition, Ltd. 
JOIN TODAY -- FREE MEMBERSHIP
https://www.finprocoalition.com/#contact

A CLEARING HOUSE OF SOLUTIONS FOR FINANCIAL PROFESSIONALS

The Financial Professionals Coalition, Ltd. is a diverse resource for over 1.2 million registered representatives, associated persons, traders, bankers, back-office staff, and owners of broker-dealers and registered investment advisors. The Coalition provides courtesy consultations with industry experts. Membership is free.

And if you want to go it alone, the Coalition's "Marketplace" is now accepting cost-effective advertisements for:

• Help Wanted (Employer)
• Position Wanted (Employee)
• Professional Services (Lawyers, CPAs, Consultants) 
• Announcements (Events, New Firms)

Phone numbers or email addresses are not disclosed in the posted advertisements unless you so authorize; and a reply protocol offers various degrees of confidentiality as you may require. 

https://www.finprocoalition.com/marketplace/