Private Client Partner

A Top 50 firm retained us to assist them with the hire of a Private Client Partner into a new office with the objective of growing a team.  

Brief

Our client already had a strong private client offering as a firm but, having opened a new office, they were keen to appoint an experienced partner to assist them with plans to build a team in a new location. Cultural fit was important to the lead partners who instructed us and they also wanted a partner who would be excited about growing their own team. 

Search focus

Having had an in-person meeting with the hiring partners, we were able to understand the platform but also the strategy for this hire - what would matter most and how this person would fit into the current structure. This gave us the information we needed to map our search. 

Given the location of this hire, there was an abundance of potential candidates. To ensure that we were time-efficient, whilst being thorough, we isolated individuals who we felt met the client's brief in terms of experience and who also might be at a point in their career where they would be attracted to an opportunity to build and shape their own team. 

Challenges

The market is competitive in this location and some partners were reluctant to be a first hire into a new office. We didn’t see this as a problem as we felt that if this was a concern they were unlikely to be the right candidate for this type of opportunity. 

Managing salary expectations on both sides is often a challenge, and this particular location has massive fluctuations in salary. 

Process

After an extensive search and lots of  persistence, we engaged with a senior partner who had a good network in the location the office was based and a track record of growing a team around them. In addition to this, they were an excellent cultural fit, which we were confident on from our first meeting with the candidate. 

We then worked with the candidate to support them though the firm's partnership process, which we are very familiar with, so that they knew what to expect. We also supported them with the business case, as we do with most partner hires.

When it came to salary negotiation, we worked with both parties to find a figure that was motivating and competitive but comfortable for the client. We add particular value and guidance to both firm and partner at this stage, ensuring a positive negotiation. 

We moved to offer and an acceptance, then supported the candidate through their notice period.

Outcome

Since this person joined, the feedback from both parties has been excellent and they are already looking to make their next senior hire.