The "upfront-cost" versus "attrition-cost" trade-off between career changers and new graduates: Career changers require greater investment to recruit and are also more expensive to employ, but have a 2–5X lower turnover rates compared to new graduates. kitc.es/4gLip1f Kitces Nerd Mark Tenenbaum shares a four-step framework to hiring career changers, drawing on conversations with @thehannahjmoore founder of Guiding Wealth and Amplified Planning, as well as a research report from Amplified Planning on new entrants into financial services, and how firms looking to minimize advisor turnover should strongly consider whether the benefits of hiring career changers who are more likely to stick around are worth the higher costs of recruiting and employing them compared with traditional cohorts like new graduates. #hiring #practicemanagement #advicers