Pros
- Culture is best in the industry. The amount of support the other FAs give the newer advisors is unique to this profession. -Flexibility to run your business how you want and make your own schedule. No “managers” bugging you as long as you are hitting performance metrics. Performance coaches are there to support you but do not give out orders -Unlimited salary potential for people who put in the work and effort -You eventually get your own BOA (assistant) within 4 years and own office. Most banks and wire house brokerages require being a high producer before getting an assistant -Most advisors earn 2 company sponsored (TAP) vacations with family per year with options around the world. Other firms have trips for only their top 10% producers. EJ trip metrics are very attainable, even for newer advisors. -Summer regional meeting for all local advisors to attend and bring family. This sets our culture apart and is a great community of people to share ideas and socialize. -Building relationships with clients is the best part of this job. You have the opportunity to make a big impact in your clients lives and is very rewarding. Clients will treat you like family.
Cons
- Building a successful Financial Advisor practice is one of the hardest things to do. Requires hard work and long hours the first 5-10 years before having a sustainable practice - At the end of the day this is a sales job. Sales skills are extremely important, therefore you need to have the grit to handle the stress of hitting your performance numbers. For people who put in the work, results will follow. This is not the job for someone who does not want to prospect and sit behind a computer waiting for leads. -Stress of the stock market and client performance during tough markets.