Assets under management

A leading financial services provider with more than 59 million private and minor business clients has improved its selection process for financial advisors. Over 300 members of staff completed the HPI and MVPI. Their results were compared with a profile of requirements that was specially developed for the position of financial advisor. The sales performances were also raised. The results spoke for themselves: members of staff whose profiles matched the profile of requirements were able to increase the AUM (assets under management) by more than € 3.2 million. The growth in AUM achieved by the members of staff whose profiles varied from the profile of requirements was only € 2.2 million. The whole group of financial advisors with matching profiles increased the AUM by € 38 million. The figure achieved by the group of those whose profiles did not match was € 33 million, which meant the ROI on the use of Hogan was € 5 million. Three years later, the profile of requirements was updated again, and the selection of high performers had improved again. An update can be a good idea to guarantee the efficiency and effectiveness of the selection process using the profile of requirements.