The traditional wealth management model is a mess, Financial Advisors are sales people, they shouldn’t be running businesses, they shouldn’t be managers. Your experience/career is FA Team dependent - my experience is in Philadelphia on an FA Team in pwm: No flexibility during the day. No work life balance (may sound okay now until you miss your 6:30pm workout class because your FA doesn’t start working until 4pm). Pay is dependent on FA and if they’ll stick to their word or not (personally had 3 experiences where my pay was not what I was told it was going to be). There is an analysts/ associates cap on growth and pay, especially if you’re good at your job. If you aren’t great at your job you’ll be asked to find different opportunities within the firm (they really can’t fire people unless rules are blatantly broken).
UBS’ Benefits are the worst on the street, expensive and puts the HIGH in HDHP (something to consider when negotiating).
If the FA you’re interview with has the initial mg please really do your homework, if something feels off in your interview listen to your gut, get everything in writing, if you need clarification ask for it in writing. If you are male you will be okay on this team, others will have a harder time with this FA. If you’re an hourly employee you may be told to not enter OT and you may be told “you’ll be taken care of at the end of the year” please put your hours in. You will not be taken care of. And this is illegal.
