Interview Tips and Caveats

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Sep 8, 2008 4:02 pm

Hello all,

  I am glad I found this forum and I appreciate everyone being so honest and forthcoming.  I have 2 interviews one with ML and the other with MS.  I received these opportunities through a friend who is an independent CFP. He is also setting me up with SB which is where he started his career 15 years ago. My questions to the forum members are as follows:   1) I have heard that there are minimum thresholds for the values of the accounts at which you as a FA are not paid on. Is that a question I need to be concerned with during my interviews?   2) It is my understanding that ML has market share in our area followed by WS/AGE, if presented with job offers objectively speaking, does the company really matter?   Thank you in advance for any information you may be able to give me. If you have any other tips to help me I would appreciate it greatly.
Sep 11, 2008 4:43 pm

Look at market share from the opposite POV. In a small or smallish market if one firm has all the bases covered your opportunities for growth are stunted. My rule is this; the Lions club members run the town, the Rotarians own it. If your firm already has all the Rotarians on board as clients, who’s left? In a small town I’d go with whoever has the least market share. In a city or suburb market share doesn’t matter.

  The firm name and size is less important than the local office management. A branch manager can't make you, but can definately break you. Go with the firm with the branch manager you feel will help your career the most. You are interviewing them as well as they you.   Good luck!
Sep 11, 2008 4:52 pm

Thanks Ice. To answer your question why these wires, I felt they would have the best training programs for someone new to the business base solely on their size. I have heard that size DOES matter. Thank you again for your insight.

Sep 11, 2008 4:59 pm

Thank you BG. I may have portrayed my market as Mayberry when in fact it is pretty sizeable. I am just South of Orlando in Central Florida.  Having said that I have been extremely active in a number of local civic organizations and local politics. I am not a Rotarian but I strive be one someday. I have a pretty good relationship with all of these managers but I was more concerned about building my book (gathering assets) and then being released after I built someone elses book becuase of AUm requirements. I was told by ML during my interview yesterday that 15M by year 3 was the mark I needed to hit. Sounds kind of lofty to me but doable. I have never been one to shy away from a challenge but let’s face it. You don’t know, what you don’t know.  I need to make a calculated choice and I value all of your opinions. Thanks again. 

Sep 11, 2008 5:04 pm

Will do Ice. They also told that their training program wa 43 months long. WHAT? Gees I was hoping to be independent by then.