Vantaggi
Great experience for high school grads or college grads who want to get their foot in the door in the financial industry and learn about mutual funds.
Svantaggi
Accounts are moved around a lot. The responsibility for another advisors portfolio choices and client servicing goes to the receiving advisor. The advisor is responsible for training bankers and tellers, in addition to prospecting, meeting with clients and selling. The bankers and tellers expect incentives from advisors for referrals, and the advisors get less pay than bankers. Bankers turn into advisors then turn back into bankers. It is important to get along with the people in the branch and management, selling and investing is secondary. If your manager likes you then you will do well here and get handed accounts when advisors leave, which is often. Not a professional environment.