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| *Ostroff, Fair and Company>>>Financial Services |
What are the benefits and disadvantages to being a financial advisor in a bank vs. another independant firm? |
I am wondering what the differences in being a financial advisor in a bank vs another firm (raymond james, ameriprise, axa, etc) are. Both advantages and disadvantages please! Advantages of working in a bank: - Warm leads, Referrals from Bankers and Tellers - No knocking on doors - Customers are already in the branch. It's really about working with branch staff to profile correctly and refer customers to you - Business Hours - Corporate/Professional Environment - Opportunity for growth - Depending on size of branch(es), you might be assigned to 2-3 different branches which provides more opportunity of meeting different clients in different areas Disadvantages of working in a bank: - Commissions are less Advantages of working for independent firm: - Maybe better pay - More "independent" Disadvantages of working for independent firm: - Not set schedule, you might have to be at customer's house at 9pm trying to sign docs/contract - Knocking on doors, building your own book of business Source(s): Branch Manager of one of the leading financial institutions. Interviewed FA's (financial advisors) and work with them on a daily basis |
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