The Retirement Fiduciary Podcast: How Business Owners Can Avoid Bad Hires and Build Stronger Teams with William Sprengler

How Business Owners Can Avoid Bad Hires and Build Stronger Teams with William Sprengler

Apr 21, 2026

Hiring is one of the hardest parts of building a successful advisory firm. In this episode of The Retirement Fiduciary, Adam Koós sits down with William Spengler, founder of Frederick Fox, to talk about what actually leads to better hiring outcomes, stronger teams, and healthier long-term growth.

Will shares what he’s learned from building a fast-growing recruiting firm and explains where many companies go wrong in the hiring process. This conversation covers interviewing mistakes, compensation expectations, onboarding, retention, and the leadership habits that help firms attract and keep great people. It is especially relevant for financial advisors and business owners trying to scale without creating chaos.

Episode Timestamps

00:00 – Intro, guest background, and how Will built Frederick Fox
03:50 – How William Spengler got into recruiting
05:20 – Why traditional recruiting models are slow and outdated
07:15 – What the best firms do differently when hiring
08:20 – Common interviewing mistakes that lead to bad hires
09:20 – Why references matter more than most firms think
10:00 – Internal misalignment and how it hurts hiring momentum
10:55 – Compensation expectations in today’s market
13:30 – The systems firms need before ramping up hiring
15:00 – Retention, servant leadership, and creating a better culture
16:45 – Balancing high performance with genuine care for your team
18:05 – Rapid fire: ghosting, interview communication, case studies, and hot yoga
21:00 – What makes Frederick Fox different
22:35 – Final thoughts and where to connect with Will

Key Takeaways

💡 Clear employer value propositions attract better talent. Firms that can clearly explain who they are, where they are going, and why someone should join them tend to win better candidates.

💡 Bad hires often come from weak validation, not weak resumes. Will emphasizes that references and backdoor references can help firms avoid costly mistakes before someone joins the team.

💡 Internal alignment matters. When stakeholders are not aligned on the role, interview process, or ideal candidate profile, strong candidates often drop out or accept other offers.

💡 Compensation is only part of the equation. Competitive pay matters, but clear growth paths, incentives, culture, and leadership also play a major role in attracting and keeping great people.

💡 Onboarding is a growth system, not an afterthought. A clear 90-day onboarding plan and measurable expectations can make a major difference in whether a new hire succeeds.

💡 Retention starts with leadership. Companies that treat people as their greatest asset and lead with gratitude, service, and alignment tend to keep strong talent longer.