Question in regards to CSA Position

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Apr 24, 2013 9:23 pm

Hi, I just have a quick question in regards to the CSA positions in buldge bracket firms. What is the typical daily routine for client associates? I've always thought that CSA is in charge of the operation and the sales part of clients. But i want to hear from the professionals that knows the business through first hand experience on what is the day for CSA look like?

In addition, what is the difference between client service associate and registered associate?

- Thank you.

May 24, 2013 11:25 pm

Typically it’s one CSA to 1-1.5mm of production. So in the office I was at, each CSA worked with 1-3 advisors, depending on the size of the advisor’s book.They answer the phones, set up the accounts, do paperwork, assist with servicing the clients. (checkbooks, withdrawals, etc). They do NOT make recommendations or typically do any type of review or advisory work. A Registered associate can place trades for the advisors. Non registered csa’s cannot place trades or take trade requests on the phone. Neither csa’s nor registered csa’s would typically do any selling but they do stuff envelopes, make calls, etc.

At the firm i was at they had 6 weeks vacation, 2 weeks sick time, and rarely worked more than 30 hours in a salaried week. They get sweet bonuses from their advisors and make as much as many small book FA’s. Not a bad gig, but a lot depends on if your FAs are decent people or not.