Pros: benefits and 401k choices ok if you want them
Cons: worst management and client service i have ever seen, the firm does not care about people, only the bottom line, sad but true
This firm advertises opportunities to get in to this rewarding field where you can help others reach their financial goals. They advertise a complete training program *the FAA Program*, replete with a coach, weekly meetings with a manager to help build your business, and much much more. BUT, this does not happen if you are in NJ, NY or even most of – more... PA.
First day...handed a bunch of papers, sit down at your cube, and "figure it out." There was no help, guidance, training, mentorship, or ANYTHING that was promised.
Best thing was, I got totally licensed. Now that I am not meeting their SALES goals, I am leaving...but with a book of clients who will come with me to another firm that really cares about clients, rather than judging them about how much in assets they have.
Yes, judge people by the assets they have to invest. The MINIMUM a client needs to bring in is 100K. I ask, how many people do you know who have that amount and are willing to put up with MS ridiculous fees? Annual maintainence fees, low balance fees if the account falls under a threshold for even one day, and then there are the fees. High fees. 2% or more. Few if any. So you will struggle, as I do to bring in assets. Then they hold back your account processing, because you are new, so they can say you did not meet goals at 3, 6, 9, 12, and more months checkpoints. And again, they think that a person with less than 100K to invest is worthless.
What to do? GO ahead and take the FAA job if you get through the screening process. Do the studying and get your licensing. Then, build up potential clients and wait for MS to term you so you can go elsewhere to really service clients.
MS bleeds you dry. Take what you can and get out. You do not want to spend your life in a rathole. And that statement is an insult to rats.
Better off now o knowing I am going at a place that cares about my clients and me. Thanks MS for the licenses and all, and I am glad to have been able to get better opportunity after you used me and treated my clients, as well as any who had less than what you thought was acceptable, terribly.
Giving notice Friday
Chalk it up to experience. BAD experience with MS...but great results long-term for me and my clients – less