Pros
1) Paid to study at work for 4 months until you obtain your series 7/66 licenses 2) Resume booster if finance is what you want to do
Cons
There is essentially no training program. If you don't pass your series 7 and 66, you will be terminated. After passing your tests, you go into production and need to bring in at least $280k/month in assets under management to be a minimum performer (keep your job). Headquarters gives FAAs 6 months of production before they start firing underperformers. After 6 months, you have a maximum of 3 months to meet your minimum revenue requirements or you will most likely be terminated. As financial advisors, the fee for managed money ranges from 1% - 2.5%. Of this amount, the firm's cut is 75% and your cut is 25%. If you charge 1% for every $100,000 of assets you manage, you will be making $300/year for each $100,000 account you bring in. Therefore, unless your network consists of high net worth individuals willing to invest with you, this job probably won't be viable long term. Finally, unless you partner with someone, you will be stuck cold calling all day and this strategy simply does not work in my experience
