[quote=Bobby Hull][quote=Vin Diesel][quote=Bobby Hull][quote=Vin Diesel]

4) Why too is it so fun to kick the bank advisor? I am amazed at how you seem to think on here that they are nothing but hacks and has beens.. I would challenge you to inspect your local bank representation ..because where I am ..they are viable advisors making a difference ..(and yes I am one) ..

I was one of those people who would look down on bank brokers. It's funny when I started in the business at an Institutional Firm, people would look down at wirehouse reps, then when I was at a wirehouse we would make fun of bank reps, calling them "order takers'.

Im at a bank now and couldn't be happier. I think bank reps get a bad rap from the preception that they only sell annuities to old ladies. And maybe it used to be that way, but it's not that way anymore. Also bank reps are doing some serious gross production with less effort than wirehouse guys, which makes some people bitter.

[/quote]

Sounds like you're on that path to failure. Let us know when you become a clerk at Fidelity.

[/quote]

My best year at a wirehouse I did $350k gross, Im now doing almost double that at a bank at the same payout. So you're right im on the path to failure.

[/quote]

Yeah. Sure. I believe you. From what I gather from the bank kids on this board, every bank broker does at least $750,000 gross and raises 2mm/month in a bad month.

[/quote] Those numbers are way off.   In my bank program the median rep does about $300k.   However, the top quintile is over 500k.

I would think wirehouse reps have higher production mainly because bank programs are nowhere near as mature.  My prediction is that this gap should close over the next decade.

scrim

[quote=scrim67][quote=Bobby Hull][quote=Vin Diesel][quote=Bobby Hull][quote=Vin Diesel]

4) Why too is it so fun to kick the bank advisor? I am amazed at how you seem to think on here that they are nothing but hacks and has beens.. I would challenge you to inspect your local bank representation ..because where I am ..they are viable advisors making a difference ..(and yes I am one) ..

I was one of those people who would look down on bank brokers. It's funny when I started in the business at an Institutional Firm, people would look down at wirehouse reps, then when I was at a wirehouse we would make fun of bank reps, calling them "order takers'.

Im at a bank now and couldn't be happier. I think bank reps get a bad rap from the preception that they only sell annuities to old ladies. And maybe it used to be that way, but it's not that way anymore. Also bank reps are doing some serious gross production with less effort than wirehouse guys, which makes some people bitter.

[/quote]

Sounds like you're on that path to failure. Let us know when you become a clerk at Fidelity.

[/quote]

My best year at a wirehouse I did $350k gross, Im now doing almost double that at a bank at the same payout. So you're right im on the path to failure.

[/quote]

Yeah. Sure. I believe you. From what I gather from the bank kids on this board, every bank broker does at least $750,000 gross and raises 2mm/month in a bad month.

[/quote] Those numbers are way off.   In my bank program the median rep does about $300k.   However, the top quintile is over 500k.

I would think wirehouse reps have higher production mainly because bank programs are nowhere near as mature.  My prediction is that this gap should close over the next decade.

scrim

[/quote]

In my program our top third are ove $700k and then about 1/2 are over $500k.. the kicker for my group is that they lambasted about 1/2 of the firm 2 years ago that were under $250k.. So our group of 40 or so .. if you are not moving you are going to be moving ..out the door. and they are not going to think twice about it.. I know for my group practice.. (I stared one to get momentum) .. We are doing a pace fo about $1.3 - $1.5 million .. so not so bad.. I think we might get closer to $1.5 if we  can get some of our seious insurances cases to pop! :)

I might add in addendum …to the above before I stared my group this year … I did over $450 in production for 2006 …not bad… but as you can see the partner helped considering he did about $80k or so the year before…