What to do?
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I’m currently being sponsored by Ameriprise. I got my series 7 and life license. I’m currently studying for my series 66. After reading a bunch of previous post. I realize i dont want to work for Ameriprise. Will it be wrong if I take the series 66 and inform Ameriprise that i wont be working for them? oh btw. I fronted the money to take all the test so far, so Ameriprise hasnt paid a dime yet. or should i just work for a month or so and then quit?
Ameriprise HAS paid - in labor and materials to get you up and running.
They just haven't paid YOU.
I wouldn't feel TOO bad about this. I consider this to be part of "due-diligence" that you do on a firm to ensure that you want to associate with them. "Birds of a feather..."
Be ready to explain to your NEXT firm why you left Ameriprise so quickly. They WILL be listed in your U4 with dates of employment OR "sponsorship".
I wrote a letter of resignation to Ameriprise after actually working with them for 4 days. In my letter, I left for the reason of the time commitments - 12 hours per day M-Th, 10 Friday and 6 hours every Saturday. Add commuting time, and I never would see my family.
My REAL reasons for leaving were: 1) Very little training - It's all been scripted sales techniques where I didn't know where the financial concepts came from; 2) the "leads" promised were already worked hard and left for new people to call - not the "fresh" leads I was told about; 3) the "free consultation" is ONLY a sales presentation to use my scripted presentation, 4) the way they tell us to disclose the way we are compensated sounded too fishy (and none of the client's business anyway).
Just my rantings.
Why do YOU want to leave Ameriprise?
the reason i want to leave ameriprise is because there’s no training and all we do is read from a script that they made us memorize and im not actually learning anything.if i want to learn how to read a script ill become an actor
Ameriprise is a third-tier firm with a catchy marketing campaign right now. In over 6 years in the business, I have NEVER found a decent prospect who was with Ameriprise and had over 150K.
Just my experience- but probably similar to others...
[quote=blarmston]
Ameriprise is a third-tier firm with a catchy
marketing campaign right now. In over 6 years in the business, I have
NEVER found a decent prospect who was with Ameriprise and had over 150K.
Just my experience- but probably similar to others...
[/quote]The obsession with pushing VA's and VUL basicly drives off anyone with any money or common sense. The in house riversource funds are pretty weak.
All around a very lame company. AMP is also a big force in the CFP fiduciary duty pigfight. They want to crystalise a situation where CFP's do not have to work in the best interests of clients.
I’m pretty much made of my mind to leave Ameriprise after i get my 66… any recommendation which firm or type of firm (i.e. bank, wire, independent) is best to start a career?
Banks generally look for experienced producers, so you may have a difficult time getting a position there when you're just starting out. (I started out as an assistant to a bank rep and later became a bank rep.)
The real questions are: What type of practice do you WANT? What kind of firm do you want to associate with? Wirehouses like Merrill Lynch and Smith Barney? Banks like BofA? Insurance like Mass Mutual or New York Life? Regional like AG Edwards?
[quote=lifemy107]I'm pretty much made of my mind to leave Ameriprise after i get my 66.. any recommendation which firm or type of firm (i.e. bank, wire, independent) is best to start a career? [/quote]
I feel a wirehouse will give you the best training to start your career. Then go to a bank in 2yrs and make $$$$$
[quote=skippy]
Banks generally look for experienced producers, so you may have a difficult time getting a position there when you’re just starting out. (I started out as an assistant to a bank rep and later became a bank rep.)
The real questions are: What type of practice do you WANT? What kind of firm do you want to associate with? Wirehouses like Merrill Lynch and Smith Barney? Banks like BofA? Insurance like Mass Mutual or New York Life? Regional like AG Edwards?
[/quote]You are right, to an extent. However, I joined a bank after leaving Amerprise with no problem, and now work for a bank/Morgan Keegan and honestly couldn't be happier. I get the warm bank referrals, a nice office outside the bank, and 100% support from MK, which thankfully allows me to compete with any wirehouse out there.
Good luck to you. Banks are great, especially if you're new to the business.
[quote=Vin Diesel]
ameriprise is the WORST Firm. Get your licenses & GET OUT quickly.
[/quote]Is that really ethical?
[quote=lifemy107]I'm pretty much made of my mind to leave Ameriprise after i get my 66.. any recommendation which firm or type of firm (i.e. bank, wire, independent) is best to start a career? [/quote]
If you are new, it is going to be tough. AGE and RJ are reputable firms willing to give rookies a try.
The people who make it in this business are the ones who could make it without training. Workers are trained. Successful people figure out a way to make things happen. If you have what it takes, it doesn’t matter how good the training is. If you don’t have it, you will fail in spite of hte training .
[quote=Bobby Hull] The people who make it in this business are the ones who could make it without training. Workers are trained. Successful people figure out a way to make things happen. If you have what it takes, it doesn't matter how good the training is. If you don't have it, you will fail in spite of hte training .[/quote]
Bingo!
Bobby has a good point. However, there are plenty of people, and I’m one of them, who would have failed without good training in the beginning. Also, there are plenty of wirehouse reps who fail because they can’t bring in enough assets in the beginning, yet, many of these people could be very successful if they simply had more time to figure out the business.