Pros
-training as a new FA -flexible schedule -paid salary first 5 years (phased out gradually) -new asset bonuses -TAP trips -usually really good FAs in the field
Cons
-firm takes 60% of your commissions until you start producing 700-800k /year (you can still make a lot of money but what they take from you is insane once you look outside the firm) -no innovation in the company. If you’re younger and want to build a career leveraging a digital brand this is not the place for you -compliance is heavy handed on things that outside the firm aren’t a thing. -you don’t own your book of business (I can’t overstate how important this is) -focusing on DEI was a bigger priority to the firm 2 years ago then helping their FAs find new ways to attract clients (inept management) -the general partners are incentivized to keep things status quo due to the fact their average salary is $3m/year (this was 2018 data) -meaning the default is don’t upset the apple chart because 600-700 people are on the gravy train