Excerpted from “So You Are An Advisor Who Just Got Fired. Here Are Interview Strategies For Your Next Job”, by Frank LaRosa
You’ve just been fired from an advisory firm. In addition to experiencing a range of emotions, you now face the existential question common to terminated professionals everywhere.
After taking time to manage the legal and professional practicalities of disconnecting with your former firm, the next step is to move past the firing itself and focus your energy on launching a search for a new position at a new firm.
Once you land an interview, the focus and energy you put into this conversation will be the fuel that powers your career evolution and launches you into your next job. At the same time, it is crucial to be strategic in order to avoid making major missteps that can prevent you from getting hired.
Before the interview. Prepare and practice scripted answers as to why you lost your job, as that question is certain to come up in the interview. But before you can do that you must be honest with yourself about the role you played in the circumstances leading up the termination. Being fully transparent on this subject in the interview will serve as the foundation for building respect and trust with prospective partners you’ll be meeting with.
If you were fired for cause, you should have a termination memo, written by your lawyer, to present to potential employers. The memo outlines the facts surrounding the termination from the previous firm and details the advisor’s position surrounding those events.
If you use a recruiter—and we recommend it—be forthcoming about what worked and didn’t at your last firm. This will serve as a kind of test run for the interview as you learn to effectively communicate, not just your career wins and successes, but also what you intend to do differently going forward. A transition consultant or recruiter can be your number one resource throughout the process of seeking new employment. They have the industry relationships, the negotiation expertise, and the insight needed to ask the right questions that will ultimately guide an advisor to the ideal new firm.