Pros
Weather you work really hard or not, you get paid the same as there is no commission base. Benefits are competitive. Organized social activities within the office are usually quite enjoyable.
Cons
Management can be horrific when 'attempting' to manage employees. Employees are coached on how to sell to clients who do not need the product, thus generating sales and attaining outrageous net new money and net new client targets. This can easily be hidden from clients as commissions are not earned on sales, they are paid out in bonus over three years - which does not need to be reported under new CRM regulations. Employees are put into a position where selling only proprietary funds is the easiest route and strongly discouraged from selling other funds despite any performance issues. If you are okay with deceiving your clients, then this could be the employer for you.