Being a rep at b of a
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ANYONE WHO CAN GIVE PROS/CONS ON BEING AN INVESTMENT REP AT B OF A ? ALL THOUGHTS APPRECIATED. DO THEY PUSH YOU TO SELL CERTAIN PRODUCTS? IS IT ONLY ANNUITIES AND FUNDS?
They have one of the best fund wrap programs on the street!!
great syndicate too!
[quote=Reggin]You've GOT to be kidding. They S U C K[/quote]
Why don't you guys tell the younger people why things suck when you make statements like that.
For example, name what you think is a great annuity and then compare it to one that you think sucks--citing the differences that would be of importance to the investor.
A couple of insurance brokers got spanked super hard in Colorado for
selling “unsuitable” annuity products to the elderly. It’s in the business
section of today’s paper (rocky mountain news).
[quote=ymh_ymh_ymh]
A couple of insurance brokers got spanked super hard in Colorado for
selling “unsuitable” annuity products to the elderly. It’s in the business
section of today’s paper (rocky mountain news).
[/quote]
…and a doctor got spanked pretty hard for handing out illegal
prescriptions for pain meds. What’s your point?
Annuities come in all sizes and shapes. Some are suitable for some people and some are not.
That's my point.
[quote=ymh_ymh_ymh]
Annuities come in all sizes and shapes. Some are suitable for some people and some are not.
That's my point.
[/quote]
I'm sure none of us had ever thought of that before, Yolanda.
If you thought about it before, why not give the rookies examples of “suitable” and/or “unsuitable” annuities, Knucklehead.
[quote=ymh_ymh_ymh]If you thought about it before, why not give the rookies examples of "suitable" and/or "unsuitable" annuities, Knucklehead.[/quote]
Because I don't care.
From what I see they can sell most any annuity avail and the wrap program is not much diff than any other wrap program. The problem there is that there is no incentive for the Bank or CM to send the rep biz. In fact they are penalized as of the new comp plan. Can’t understand their plan here.
[quote=knucklehead]
[quote=ymh_ymh_ymh]If you thought about it before, why not give the rookies examples of “suitable” and/or “unsuitable” annuities, Knucklehead.[/quote]
Because I don't care.
[/quote]and this would be the part where you make the transition from sounding like a confident expert to a pompous arse....sorry but that's how I see it...
[quote=joedabrkr] [quote=knucklehead]
[quote=ymh_ymh_ymh]If you thought about it before, why not give the rookies examples of "suitable" and/or "unsuitable" annuities, Knucklehead.[/quote]
Because I don't care.
[/quote]
and this would be the part where you make the transition from sounding like a confident expert to a pompous arse....sorry but that's how I see it...
[/quote]
...and this is the part where you show that you don't understand that suitability is determined on a case by case basis, not on some generalizations that I could make on this board. Sorry, but that's how you presented yourself. Also...why should I care to help people who think that they don't need help?
[quote=whalehunter]The problem there is that there is no incentive for the Bank or CM to send the rep biz. In fact they are penalized as of the new comp plan. Can't understand their plan here. [/quote]
I think it's twofold. First, the bank side is looking at their P/L versus BASI's P/L. Secondly, when it comes to asset management the private bank is more profitable per customer dollar than BASI is.
[quote=mikebutler222]
[quote=whalehunter]The problem there is that there is no incentive for the Bank or CM to send the rep biz. In fact they are penalized as of the new comp plan. Can't understand their plan here. [/quote]
I think it's twofold. First, the bank side is looking at their P/L versus BASI's P/L. Secondly, when it comes to asset management the private bank is more profitable per customer dollar than BASI is.
[/quote]
Based on what I see here from the bank channel types I suggest that there could be another issue--the bankers who are supposed to provide leads have no confidence in the individuals who are pretending to know what they're talking about.
What is also curious is why the bank channel types feel that the bank is supposed to help them--this is a sales job. If you want to just sit and take orders go to work at an e-Trade call center.
[quote=NASD Newbie][quote=mikebutler222]
[quote=whalehunter]The problem there is that there is no incentive for the Bank or CM to send the rep biz. In fact they are penalized as of the new comp plan. Can't understand their plan here. [/quote]
I think it's twofold. First, the bank side is looking at their P/L versus BASI's P/L. Secondly, when it comes to asset management the private bank is more profitable per customer dollar than BASI is.
[/quote]
Based on what I see here from the bank channel types I suggest that there could be another issue--the bankers who are supposed to provide leads have no confidence in the individuals who are pretending to know what they're talking about.
What is also curious is why the bank channel types feel that the bank is supposed to help them--this is a sales job. If you want to just sit and take orders go to work at an e-Trade call center.
[/quote]
Any bank or wirehouse would be thrilled to have me consider hiring them.
What else have you got, stupid?