Where to go from here?
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I am a 6, 63, life and health rep with a bank background. I started with Chase, moved to a local bank, then on to National City. That last part, you can probably guess, is the problem.
I actually just gave my 2 weeks at NC after learning that I was probably not going to have a choice from someone who had a bit of inside info. It was not production related. It was really about a difference in personalities with a branch manager. (Which at NC was actually my boss.)
Luckily, though, I got the heads up so I was able to cleanly resign with no reflection on any records. For the 6 months I was there last year I had over 45K in revenue, which is pretty good for someone having to open checking accounts and file debit disputes most the time, working at a bank that everyone thinks is going under soon. I was the top producer for our district.
I am trying to figure out where to go from here. I have talked to 5/3 and I’m fairly confident I can get on there, but I don’t know that I want to. I have heard their incentive structure is not the best, and they are in about the same financial shape that NC was.
I would love to get my 7 and 66, but I don’t know which firms are going to pay for that licensing and provide a salary while doing so (just in the beginning. I don’t mind straight commission after the first 6 months-year) I am hoping for the salary to be around 30k annual.
I have talked to Ed Jones, and am in the initial interview process with them.
I have an interview with NYL and Metlife next week, but I haven’t heard the greatest things about working there. I also interviewed with American General last week.
Any other suggestions? I am in the Louisville, KY area, if that helps.
(I deleted some of the original post to maintain anonymity)
I wanted to add: I don’t want to sound overly confident, but I am a great salesperson, and a very hard worker. One of the things I actually got into trouble for was staying late to make calls in the evenings, because if I didn’t put it on my time sheet, it was against the rules, and they sure as heck weren’t paying me overtime for it. I tried taking call lists home, but that was also against rules. I also tried focusing on the investment side, but that gave the impression of not being a team player.
It’s a weird situation at NC because there is this tug of war between the FA and the BMs. The FAs get paid off our production, so of course they want our focus on investments. The BMs just see us as another body in a branch who need to be doing whatever they want while the make “business calls” all day long. It took 5 yrs for the FAs to win the battle over LFCs being trained to run a teller drawer.
Sounds like you had to leave. Are there other bank FA positions around you since you’re familiar with that format? I would think that you should be able to find one who will sponsor you for your 7.
Edward Jones will get you licensed but you will be literally knocking on doors and following their formula. Not bad, but it isn't the bank where people come to you. Many newbies at Jones are really struggling right now. I'm curious what a salary at the bank is that was "too high?" Good luck.40K. The range at NC is 32k-40k, I was told, so I came in at the highest.
Chase is 30K flat.
I’ve heard 5/3 is 28-30k.
I know the FA position at Chase requires 2 yrs of FA experience unless they promote within.
I really don’t think I want to stay in the banks, though.
Edward Jones does interest me, and I do believe I could be successful. I’ve heard the pay through training is something like 9-10/hr though, and that isn’t going to make my payments. I’ve got a little set aside, it’s not all that much, and a month or two without work (allowing for the interview process) will eat it up quick.
Of course, I have stashed in my retirement like crazy, but that’s down quite a bit, and like everyone else on here, I’m sure, that’s the last place I want to go for an emergency fund, especially in a down market.
I read on one of the boards that Wachovia is a great starting point. I’m calling them Monday.
Any other suggestions?
you sound hot
Im still laughing.
The greatest post in the history of this web site.
you sound hot
thanks
Anyways, back to the relevant topic, I'm going out in person this week. What firms are actually hiring for training right now i.e. not on a freeze? Who should I ask for when I walk in the door? I know we've got two very large Hilliard and UBS buildings over in Louisville. I can't think of any others right off the top of my head. I know there are a lot of regionals in smaller offices, though, so I'm guessing just talking to an FA there would work.
Oh, yeah, and what's with Merrill's website? I can't find anything under careers except campus recruiting. -Nevermind apparently, it's a safari issue
[quote=mnbondguy]you sound hot[/quote]
If she were hot, she wouldn’t get canned.
[quote=Hank Moody]
[quote=mnbondguy]you sound hot[/quote]
If she were hot, she wouldn’t get canned.
[/quote]
Bingo!
[quote=etj4588]
[quote=Hank Moody]
[quote=mnbondguy]you sound hot[/quote]If she were hot, she wouldn’t get canned. [/quote]Bingo![/quote]
[quote=no idea] go look at the regional b/d’s. hillard, sf, rjf, etc
[/quote]
Thank you. Stupid question, who is SF? I can’t get State farm out of my head.
Figured it out- Stifel. Looks like the closest branch they have is Danville, KY??? I can’t believe no louisville. wierd
So HL has on their sight to contact Phillip Roberts for a Financial Consultant position, and his # is in a Louisville #. Would it be too terribly bold of me to go there in person and ask for him so I can drop my resume off in person?