Bad, Better companies out there - Recensione dipendente - Financial Advisor presso Legacy FA

1,0
16 giu 2020
Consiglia
Gradimento del CEO
Pronostico commerciale

Vantaggi

-Call centre is free to use, office staff and IT personnel are effecient at their job. -Company employs the visually handicapped to do cold calls -Company provides good training for new agents starting out in their career. -Good salary, if you put in the work, you will make it. -Very nice office space with open concept

Svantaggi

-CEO and directors are stuck in their old prudential and aviva days, pushing agents to use the same method of prospecting that worked 15 years ago. Not up to date with the current trends resulting in the company remaining very small and unknown in the industry. After almost 5 years as a independent FA, the company has less than 90 agents. -Drama culture is very apparent here, with the upper management involving themselves, even creating drama within the company. Rampant gossiping and backbiting happens. When a director has issues with an agent, he ensures that the entire team and the entire company bands together to hate the agent. If you want to make it, ensure that you are a professional boot licker and bend over to rise up the ranks quickly. -Banding. 50 of what new agents earn goes to the company/directors. There are no vesting rights when you leave. -Sexual harassment and misogyny are widespread here. Lewd remarks and sexual harassment towards female staff and agents are often overlooked and management closes both eyes when someone complains, choosing instead to alienate the person. It doesn't help that the company does not have a proper HR team to handle such cases. Disgusting culture here that is led by the directors and CEO, all men and no woman has been promoted to that that level thus far resulting in a lack of representation. -Company profits from agents via roadshows, charging each agent $400 per day for roadshows at Expo and $160-$220 per day for roadshows at shopping malls. It is a known fact amongst agents but nobody wants to bring it up because they do not want to be targeted. Agents have done their own research on how much these events should have cost them. CEO makes a big speech before every roadshow on how the costs are 'heavily subsidized' but never actually provides the breakdown. That's why agents eventually stopped signing up for roadshows. -Directors and managers misrepresent the role during interviews with candidates and agents are in for a rude awakening once they actually start working. Once agents have joined, they try to brainwash agents into thinking that this is the only career path that will make you tons of money and if you leave, you are a loser that can't make it in life. -According to office staff, they have been instructed by the CEO to write many fake reviews on glassdoor over the years to boost the ratings of the company. 'Good' reviews are also written by aforementioned boot kickers that want to get on the CEO's good side. CEO also treats office staff and trainers horribly. My advice to agents in the company: Learn as much as you can while at LFA and leave when you have mastered the basics. LFA might seem like a big deal until you actually explore your options out there. There are so many other companies that will take you to greater heights without having to involve so much nonsense.

Esplora altre recensioni su Legacy FA

1,0
9 dic 2025
Consiglia
Gradimento del CEO
Pronostico commerciale

Vantaggi

No need to pay rental for office cubicle

Svantaggi

Many claw back if you never read contract

1,0
27 mar 2025
Dipendente anonimo
Consiglia
Gradimento del CEO
Pronostico commerciale

Vantaggi

Flexibility as an advisor to pursue the types of clients you want.

Svantaggi

In my opinion, these are the following: Compliance is a headache. Admin staff are poorly trained and often ask stupid questions. Management is stuck in the past and practices a churning turnover culture. They will fire you once you have exhausted your warm contacts. They will force certain products down advisors' throats and in turn expects it to be forced onto clients. When you are no longer able to generate revenue, you will be "forced" to go. Politics here is more colorful than a circus clown. CEO loves to use scare and intimidation tactics and doesn't know how to speak like a human being. Like Donald Trump says, this CEO lacked common sense. He would resort to screaming and raising his voice to get his way. Highly unprofessional human being. There is nothing much to learn besides selling. A waste of time company if you are looking for longevity. Like the late Warren Buffet says, rat poison squared. If you value your time and life and have a book of clients, you might want to consider somewhere else. This company is a one trick pony. Commission structure is also average.

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