A new platform lets advisors and firms check each other out and matches them based on mutual compatibility — like a Match.com for recruiting.
FA Match — a digital recruitment platform that connects RIA firms, banks, wirehouses and independent broker-dealers with advisors seeking meaningful career transitions — officially launched on Tuesday.
FA Match secured $500,000 in its initial round of seed capital funding, led by MassMutual along with other strategic investors in fintech. In October, FA Match launched its beta software, adding 14 financial firms to the platform including Atria Wealth Solutions.
Available industrywide, FA Match’s “Mutual Match” technology makes it easy for advisors to discreetly search for job opportunities and build relationships with deserving firms on the basis of mutual compatibility.
According to CEO Ryan Shanks, who founded the advisor recruitment firm Finetooth Consulting in 2006, FA Match allows advisors to navigate quality career opportunities on their own terms with no strings attached.
“With FA Match, we’ve intentionally flipped the recruiting process on its head — because when advisors have full control of the process, firms benefit from higher-quality, intentional searches that yield better results for the future of their business,” Shanks said in a statement.
FA Match creates a unique advisor profile for each candidate, which includes qualitative and quantitative search criteria based on location, employee benefits and service offerings. Firms who wish to join the platform and seek candidates have the ability to filter advisors by revenue, assets under management, years of service, professional licensing, breakaway status and more.
There is no monthly cost for either party to use the platform — rather, firms pay an industry-standard fee contingent on FA Match’s promise to place quality candidates.
Once advisors and firms show mutual interest, FA Match discloses identifying information about the advisor with their permission and continues as a liaison between parties, handling administrative tasks like organizing the initial conference bridge, transcribing and emailing the call notes.
In addition to connecting advisors and firms, FA Match is a digital solution for traditional recruitment agencies looking to scale and grow their search capabilities.
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