Vantaggi
Structured first 2 years in the business with training, stable pay with unlimited upside potential in commissions, open architecture platform to service clients. Pushes a holistic approach to truly help clients instead of being a product pusher. All new advisors get fully licensed right away prior to starting. After 2 years, it switches to full commission + bonus and payouts are extremely competitive, much more than banking channels. Great benefits, and a clear career trajectory if someone wants to do management or producer groups.
Svantaggi
It's a grind early on, the work/life balance is definitely earned. There is no bank backing Equitable so there's no existing client book to work (ex: Merrill Lynch). All of our new business comes from prospecting on our own. Friends & family, people who know us, building target markets, cold calling, etc. Working with friends and family is the best way to build a business in my opinion, but in my experience, we lose people because they want more of a bank offers.