Fidelity vs Bank

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Dec 4, 2007 3:15 pm

Had a good friend leave the POA program this week, just wasnt cut out for it. I think he will do well if he had a little assistance in the prospecting area. He is thinking about working at a bank or a discount brokerage. Thoughts?

Dec 5, 2007 7:59 pm

Fidelity is a good place to start. I think he'll need his 7 before he starts in the Branch.

Dec 6, 2007 5:55 pm

derek, he has all his licenses. Can you give any more on fidelity? Did you have a friend work there?

Dec 7, 2007 11:10 am

I know someone that works there.. Seems like he has a big head for no good reason.. Your friend must enjoy large volume orders and no real 'one on one' service. Basically- he will just be an order taker.  I have never enjoyed just taking someone order.. But that is all the person I know does.  Answer the phone.. Place an order. No real satisfaction in that!


I think he makes around 75-80K
 
Miss J
Dec 7, 2007 12:45 pm
MISS JONES:

I know someone that works there.. Seems like he has a big head for no good reason.. Your friend must enjoy large volume orders and no real 'one on one' service. Basically- he will just be an order taker.  I have never enjoyed just taking someone order.. But that is all the person I know does.  Answer the phone.. Place an order. No real satisfaction in that!


I think he makes around 75-80K
 
Miss J
 
Maybe he finds satisfaction in the fact that he makes 75-80K without having to work hard.  I agree with you though.....I have a friend who works at a discount broker and for some reason he thinks he is pretty important. Mostly they are all failed Merrill, SB, AGE, Jones brokers who either didn't have the work ethic and/or the skill set to succeed in their previous environment.  With that being said a lot of them are pretty talented at retaining business.....quick story:
 
A client retired after 30 years with a company that used Fidelity as a custodian. We rolled over her 401K which was pretty substantial. The next day a representative left a message so she called back with me conferenced in(I requested we do so I could hear their pitch).  They are pretty aggressive and know their stuff down to the number in regards to fees charged by their competition.
 
I've never had an issue or had anyone back out on a Rollover/Transfer, however, I've heard of it happening. I always treat the reps at those places with the upmost respect. If you talk down to them they will go after your business relentlessly.