3.0
17 Dec 2015
Current employee
Mountain View, CA
Recommend
CEO approval
Business outlook
Pros
You have plenty of autonomy (assuming you're hitting your goals), and the referral system is designed towards feeding as much as business as possible to the financial advisor.
Cons
Comp plan is ok at best. Revenue is not as important as net, new asset inflows. You receive an annual bonus (in addition to your commissions) depending on how much net new money you bring in for the previous year. On the flipside, if you're not on track on this net new money target, you take a 3% penalty on your payout grid. Quite a nuisance since not only are you losing revenue on the outflow, but the company will also reduce your payout which accelerates the negative impact on your pay.