Vantaggi
Helps you get your initial licenses to work in the industry
Svantaggi
Cult masquerading as a finance firm. They recruit every day to gain new employees, but do little to retain the ones they have. They are hyper aware of the total lack of diversity at the firm level and are doing the most to promote diverse initiatives (but in word and marketing brochures only, not in action at the regional level). They do not value you and will replace you should you show any signs of falling below expectations or going against the grain. You’re an at will employee with a no compete agreement in place, so you can be replaced at any time for virtually any reason, while the assets you acquire remain with the firm. They will come after you for compensation if you take accounts with you when you leave, even if it’s friends you brought to the firm. The pay disparities are WIDE at this firm between advisors that start “from scratch” and those that inherit parents’ offices. It’s nepotism at its finest, but you’ll be made to feel that if you’re struggling it’s because you’re not working hard enough cause “the firm gives you all the resources you need to succeed.” If that was true, then attrition wouldn’t be so high for advisors in their first few years. If you’re smart, you’ll choose a different firm. You can do so much better. This firm seems like a well disguised pyramid scheme...and they are charging clients more than the industry average for advice from novice advisors.