Pros
Decent training when you get started. Can offer support for new advisors.
Cons
You are told that you are “building your own business” but you are actually incentivized to sell proprietary annuities and life insurance which are high in fees and rarely in the best interest of the client. This is because the managers make huge override compensation on the products and almost nothing on advisory business. Your benefits are tied to proprietary products sales annually. You do not own your client book no matter what the branch manager says and they will will have an army of new advisors calling all your clients the moment you leave to try and retain as much business as possible. I’ve seen this happen countless times. It’s a revolving door. There are almost no advisors who stick around longer than 3-4 years. Every “financial plan” ends with a proprietary product recommendation.
