Raymond James and Ameriprise

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Sep 17, 2005 9:28 pm

I have had intial interviews with both of these companies and I would
like feedback as to someone’s experiences at either company. Most
importantly I’d like to know the specific differences in how they

Thank you.

Sep 17, 2005 11:50 pm

Of these two, I'd definitely go toward RJ.  RJ has five separate employment types ranging from statutory employee to full independent.  If you ever get the urge to go indepent, RJ can accomodate you without a change of B/D.

I did a due diligence trip to RJ and they have a class operation.  Excellent mid-cap stock research, good product availability and strong technology.  Ameriprise, on the other hand, has a goofy name and crappy proprietary funds.  I've done a lot of transfers from Amex/Ameriprise to my B/D...easy pickings...

That's my vote, but it's your career...do what feels right...good luck.

Sep 18, 2005 9:33 am

I also thought I’d mention that I am told Ameriprise gives their
employees leads while RJ does not. Should this influence my decision?

And a second part: What if I get hired and then get fired. Do I have to pay back all expeses for test material, salary, etc?

Sep 18, 2005 4:34 pm

Don’t let the leads thing weigh into your decision at all…I have
friends who have both worked for Amex and work for Ameriprise
now.  With Amex, you would get terrible credit card customer leads
and others that are generated by Amex’s other lines of business. 
Mostly crap.  I don’t know if its still that way now that the are
Ameriprise (they paid 3 million to a firm to come up with that?!?) but
it really doesn’t matter.

I’ve never worked for either firm, but knowing folks at both, I’d say you’ll be much better off at RJ.

Sep 19, 2005 9:09 am

Please.  You are comparing a TERRIBLE company AMEX to one of the leaders Ray Jay.  Do yourself a favor, go to AMEXSUX.com and you will read all you have to.

-at RJ you own your own book

-you get fantastic training.

-you get a computer (some AMEX offices don't give you that)

-you don't have to sell crappy products like the AMEX funds

I mean, if you want to compare AG Edwards or somebody OK.  AMEX is a bottom feeder.

Sep 19, 2005 9:33 am

AMP will tell you they give you leads, but youa re essentially an independent rep in an employee status.  It is one of the more entreprenuerial shops in the biz and I have NEVER heard a rep say they were given leads from them - actually, it's quite the opposite.

They also have the highest turnover rate of trainees in the industry.  I've heard something like 92%.

Bottom line - RJ should be the choice.

Sep 20, 2005 9:54 pm

Does RJ hire brand new people...with no experience?  I know we have a few strong RJ supporters on this BB...but there came to RJ with books.

Do they have the capacity to recruit, train and support new FAs?

Sep 20, 2005 11:28 pm

I went and did my own research!

It appears that there is a division of RJ that does hire brand new people.  Based on that fact alone...I would certainly look into RJ before spending any time looking at Ameriprise.