Thanks for the insight,.

You'll hear different opinions on this forum, obviously, which is why you're here.  My list of pros/cons between Chase / VALIC:

Chase - Pros: Name recognition, access to banking clients and all their financial information (of what they have at Chase, not necessarily all-inclusive), team-oriented environment, great benefits.  Cons: Micro-management, working every other Saturday, call nights 1x/week, most branches open until 6pm, people there to bank (not invest), inability to take clients with you when you leave (bank owns the book, not you; you will sign agreements stating you cannot take / solicit clients for 1 year after you leave or they will come after you).

VALIC: Pros: Work/Life Balance, more relaxed environment, inherited book of business (existing participants in existing 403B plans), easier time prospecting for add'l assets based on existing relationship with VALIC as 403B provider - trusted, great benefits.  Cons: Lack of communication b/w people in the organization (although this happens everywhere), "too much" flexibility in your work schedule (only a bad thing if you don't/can't manage your time well), takes several weeks to get clients transferred over to your rep# initially, they can adjust your territory as they see fit, very difficult to take existing clients with you as VALIC's transfer out process is quite involved.

To blackcat's point, yes, there is a focus on annuities being an insurance-based firm; however, there is also a managed platform where you can put people in wrap accounts, handle individual brokerage accounts, etc., just like you could at a bank or a wirehouse.

Thanks.

Thanks.

Thanks.

iceco1d is a career Valic agent he can answer all your question.

Hey Rick,

I am taking a look at both Chase, Valic, and starting out as a indy.  I have been an advisor in the past but have been wholesaling for the last 3 years.  Looking at making a change and came accross this thread.

Any new thoughts??

Go to Chase if you enjoy micromanagement and low pay.

Go to VALIC if you enjoy freedom with the ability to make a lot of money.

Can't comment on going Indy.  I can say that if you're unsure, it's probably not the right move for you.

Rick, you sound like you are pleased at Valic. Good for you, glad it's working out for you.

I have noticed many postings in the paper for VALIC. They are SunLife now I believe and was American General and then AIG right? Rick Ross, you have to give more details because these guys have a bad reputation in my area. 

As for JP Morgan Chase, I guess it all depends. Jamie Diamond runs a tight ship. Very impressive but I have no clue if it trickles down to the individual FAs.

I’m a licensed banker with Chase and the FAs at my branch do not work Saturdays. They did maybe one or two Sats when they first joined the company but that’s it.

They seem to have a lot of flexibility as far as their schedules, but I suppose it’s all relative. Bankers have practically none.

I rarely see an FA after 5pm even though we’re open til 6pm. Don’t let people scare you.

They also probably make only $50K / year. 

They also probably make only $50K / year. 

Nah…our new guy isn’t great but he still made 90-100k last year. Guys in nicer areas do better.

I think he could do more for himself instead of relying on our referrals so much, but that’s between him and his manager!

(I’m trying to decide whether or not to go for an FA position w/ Chase…which is part of the reason I’ve been reading these forums lately)

VALIC is also a great way to be able to do both 403(b) business on the VALIC side, as well as brokerage business, wrap accounts, etc., on the brokerage side, a.k.a. Valic Financial Advisors (or VFA).  Makes it a great way to prospect existing clients who have group accounts on the VALIC (annuity platform) side and still be able to compete w other firms w/o having to shit slam people into an annuity that are used to a mutual fund platform.  Just my two cents.

I'm at Chase and make more than 50k ;)

I work every Saturday, go to every call night, and show up at 830 am and leave at 620pm.  I cover 3 branches and flip CDs into funds all day long... 401k rollovers fall into my lap often enough... existing book is slowly getting moved to managed money... old annuities are slowly getting 1035'd... referrals via email from bankers and branch manager... no high pressure micromgmt...

It's not that bad of a gig :)

I’m at Chase and make more than 50k

I work every Saturday, go to every call night, and show up at 830 am and leave at 620pm.  I cover 3 branches and flip CDs into funds all day long… 401k rollovers fall into my lap often enough… existing book is slowly getting moved to managed money… old annuities are slowly getting 1035’d… referrals via email from bankers and branch manager… no high pressure micromgmt…

It’s not that bad of a gig

I work when I want, make calls when I want, and do what I want. I make $100K+. I usually decide not to work Saturdays, unless I feel like it. I am not trapped by four walls. My name is Rick Ross.

[quote=RickRoss][quote=Bureaucrat]

I'm at Chase and make more than 50k ;)

I work every Saturday, go to every call night, and show up at 830 am and leave at 620pm.  I cover 3 branches and flip CDs into funds all day long... 401k rollovers fall into my lap often enough... existing book is slowly getting moved to managed money... old annuities are slowly getting 1035'd... referrals via email from bankers and branch manager... no high pressure micromgmt...

It's not that bad of a gig :)

[/quote] I work when I want, make calls when I want, and do what I want. I make $100K+. I usually decide not to work Saturdays, unless I feel like it. I am not trapped by four walls. My name is Rick Ross.[/quote]

+1