1. Compliance is inconsistent and inconvenient. I'm all about making sure we do the job correctly and I want all records to be in good order. But many times, an application will get approved, funded and even paid out, only to get an email a month later that something is mistaken and needs to get fixed. Very frustrating for both the advisor and the client. Also, for some completely unknown reason, Equitable goes above and beyond both state and federal regulations and puts more barriers and regulations on itself, for the benefit of seemingly nobody. 2. Compensation can be lackluster on certain products, in comparison to competitors. However, our products are genuinely better for clients than most competitors because of our competitive fees, surrender charges, growth, etc. It's because we are so competitive in the market that comp must me lackluster otherwise Equitable would be operating at a loss. However, I do think this structure is better in the long run as I've rolled over countless accounts and I can count the number of clients who have left me on one hand. Because of the structure of our accounts, its very easy to make arguments to switch and very hard for competitors to make arguments for them to leave. But yes, in the short run, you will probably make more money selling another company's products. 3. Very little financial support from the company. You don't get a company credit card. You drive hours every day with no company gas card. All your packets and giveaways you have to pay for out of pocket. Depending on your office you will have to pay for an office or cubical. There is a matching gifts program where equitable will match your contribution dollar for dollar, but its support for that program is awful and its capped at $2000 per year.
