How can advice firms find the ‘prototype’ for hiring success?

Appearing on The ifa Show, Verse Wealth chief executive Corey Wastle detailed how his firm finds the most well-suited talent, often adopting job interview techniques that might be seen as unconventional.

One method that Verse has adopted is the implementation of psychometric testing. A standardised and scientific method of measuring an individual’s mental capabilities, personality traits and behavioural style, Wastle explained that the firm has implemented this technique to model candidates against an ideal “prototype”.

“We have created a prototype [of an adviser] based on their forms of intelligence and their behavioural traits. And we measure people against that prototype because we know that prototype is a leading indicator of success in that role,” Wastle said.

He added: “We do knowledge assessments for everyone. Think of it like a two-hour online knowledge exam across the full spectrum of advice. Not just technical advice, but real-world advice [asking questions like] tell us about the property market in your local area at the moment? What are your views on it?”

Another unconventional method Verse employs is what Wastle labelled a “cultural interview”.

While a candidate might be able to perform highly on a practical level, how well they fit the culture at a company is just as important for the CEO. To gauge this, candidates are asked to attend a typically 75 to 90-minute sit down with three Verse employees in a casual setting.

“The teammates are really just trying to work out, is this candidate a culture fit at Verse, and they’re asking themselves simple questions in their head, like, are they going to suit our values? Am I genuinely excited to work with them when they start here? Will this feel like a forever home to them?” Wastle said.

“And for the candidate, it’s also for them to interview us and for them to get a much richer insight into life at Verse and the culture.”

Wastle does not attend these interviews himself and, afterwards, the three teammates do not share feedback. Instead, they sit down to answer a questionnaire, during which concerns can be raised.

“If anyone thinks they’re not going to be a cultural fit for any reason, we don’t hire. There’s been candidates that I have been really excited about in the past, and maybe an associate in the team has said, ‘I don’t think they’re going to fit in our culture’,” he added.

“My commitment is, I’ll let the candidate go.”

To hear more from Corey Wastle, tune in here.