Vantaggi
Excellent starting pay and even better benefits. UBS pays New Financial Advisors to study and pass the Series 7, 66, and insurance exams. All you do is sit there and study all day. Keep in mind if you fail the 7 you are fired... First time. The training in New Jersey is average. You will be mostly coached in sales. Actual knowledge of systems and financial theory are a DISTANT second and third priorities. Make no mistake, you are a salesman first, financial person second. The accomodations in Weehawken are actually pretty good, the food is excellent, and the staff really are there to help. Benefits: Health, dental, vision: The whole works at a fair premium. You also get 10K for infertility treatment which I've never heard of another company offering. 401K: Matches up to 6%... THREE YEAR VESTING Stock Option Program: After tax dollars to buy shares of UBS quarterly. For every share you get two options at whatever price is determined at the time. Again, a three year vesting period with 10 year exercise period. Profit Sharing: There is some sort of profit sharing/pension payout yearly based on your pay and LOS. I am not exactly sure how it works or what the vesting period is. Environment: The offices are pretty good. The days of the "bull pen" have gone. Each new FA gets their own office, at least in my branch. As a new person you will likely be sharing an assistant with other FAs. The low/new person gets last dibs, basically how it works.
Svantaggi
UBS name recognition is abysmal in the US. Marketing support is there, but leaves much to be desired. The red tape to get anything remotely unique is prohibitive and the cost of marketing materials is pretty high, in my opinion. The payout for anyone other than top producing FAs is marginal. I am not exactly sure what 80% of my revenue is going towards, but I think it is money poorly spent. It is abundantly clear UBS only wants top producing FAs (which is fair). And it is also clear that UBS feels it is easier (more effective) to poach FAs from other firms rather than groom and teach young talent.