Private Client Group or Branch Bank
Hi, quick question, What's the difference between a bank fa (on platform) and a private client group fa. I heard that if you work in private client group, you earn a salary vs in a branch you get commision.
Anyone have insight into this?
Fa, as in Do, Re, Me, Fa, So, La, Ti, Do?
Oh wait, FA as in Flight Attendant. I don't think anybody here will be able to help you.
Platform normally refers to bank employees who are Series 6/63/insurance licensed. They earn a salary plus a commission/bonus on their sales.
Private Client Group is where the financial advisors are; they are usually all on commission. These financial advisors can be positioned in a bank branch, but are under the PCG instead of the bank side.