Pros
- IACs are all seated together "on the desk", overall good people, that hang out, many form friendships outside of the office, majority on the desk are ages mid 20s to early 30s - Very flexible hours and environment. I was in office Tues & Wed, working remotely Mon, Thurs, and Fri. I knew several other IACs that took 2 hr lunch breaks or worked very limited hours on their remote days. - 40 calls a day, 6 HIAs, 8 Impact calls was the daily activity each IAC had to reach.
Cons
- Compensation AND success of your territory is completely in the hands of the RAC (Regional Advisor Consultant). The RACs visit the offices, form relationships with clients, and get the trades. Full stop. - Limited call sheet - Priority 300 (primary targets, RAC responsibility) + Desk 200 (IAC free reign to call) = 500 total contacts, plus 2,000 or more cold leads, many of them weren't even in BrokerCheck anymore or Financial Advisor at all. - Daily activity "stats" 40/6/8 had to be reached or bonuses would be deducted. This forced many IACs to "manipulate" their stats - Turnover is very high here. Very underpaid. My first few months, the older veteran IACs said it best - "We are glorified admins, this isn't a sales position" - No control over your compensation - Mgmt doesn't care about you or your career path