Financial Advisors Discussions
Benefits

Curious about career opportunities with Fidelity. I am a banker/relationship manager at an investor center branch for a BB. My main responsibilities are handling banking/lending for a book of business, discovery convos with prospects, creating financial plans and referring business to financial advisors. I have a series 6/63, life accident health insurance license. My goal is to get to a position as an FA. What fidelity roles would be most logical to apply for? Right now I make about 75-80k.

Currently work with providing investment services and advice to defined contribution and define benefits plans. OCIO relationship with some clients. Would this count towards the CFP work experience?

I am a wealth advisor for a credit union. The company offers 90k base salary and we receive a 10% payout on revenue. We also have a company paid pension & 401k matching at 4%. I’ve been here a little over a year and I feel like they are getting over because it’ll take me 5 years to just clear around 125k/yr. What are you all thoughts on this compensation plan?

Switching firms. Currently have money sitting in a 401k account from previous employer. Thinking about what I should do with it. Move it over to the new employer 401k? Traditional or Roth IRA?

For independent’s with GDC 1-2 million… what % do you spend on staff?
As we have grown we have needed to add people… para planners…. Investment traders for the managed account… just added a junior guy good with computers just to keep the desk tops and laptops working with all our software programs and the required security.
We are spending about 35% for salary and benefits.

I went through two rounds of interviews for
a job that the posting stated $36.66 per
hour (FP&A Analyst)…the company
recruiter had told me in the initial call the
pay could be 32-36 because of the other
benefits. If I do get a job offer what range
should I try for? I was really hoping to get
around the 36-40 but now I feel like they
may try to offer lower than what was
posted. Also there was no range but the
average for this position is upper 70s-90k.
Thanks for any help!

Interested in what other roles may be out there for someone that doesn’t want to be a financial advisor but has all the qualifications. 10 YOE with series 7, 66 and 63 life and health insurance and about to have my ChFC. I always loved the client side of things and relationship management but was never into the investment management side- this far into the finance world just trying to find other roles that align with my experience but may be more personally satisfying.

I am about to get an offer for the TFA program at Merrill Lynch. Wondering if some people have gone through the program and what their experience was like? What was your comp structure/what would be a good number for me to ask for?

Series 65 license, 3 years of experience with 401k plans, the group I am joining specializes in K plans. Thank you!

Is there any benefits from hiring a financial advisor in a young age? I’m 26 and I’m not sure I’m picking the right investment for retirements accounts etc.

Does anyone know what the differences are from a level of support between the quasi w-2 employee independent advisor and the contract 1099 independent advisor at Raymond James? I understand that the former includes HR, benefits, etc. but from a practice management perspective is the back office support about the same? Marketing? Either channel, you are in control of the expenses from what I understand. Also the grid is about 10% more at a minimum going completely 1099 independent with them.

I am currently stuck between two job positions, one with Merrill making $85k base and big corp benefits and another for an RIA for $65k and no benefits like healthcare and 401k. I really like the RIA position better but other comparable positions in the area range from $45-$60k so it doesn’t seem like strong numbers to negotiate. Should I chose ML for the salary/benefits security— Anyone have insights? Worried of being a new higher compensated employee with a potential recession on the horizon..

Any mortgage brokers or asset lenders looking to put money to work? I have investment projects ranging from Healthcare, to Regtech, Aerospace Commercial & Residential Real Estate. Great founders and I want to help them get their projects funded!

Does anyone know of anything I could apply for at other companies/positions with my skill set? I’m a Case Manager for TZ Insurance, aka Tranzact. I review new applications with clients. I don’t want to be a sales agent, though I have a Health/Life Insurance License in my state (& a few others). I’m sick of dealing with all the 65+ & disabled people who are always irate & impatient, inside the “Medicare” area of Health Insurance. They underpay me also. Thanks! Stay blessed everyone!

Anyone work at Fidelity, blackrock, or any other firm and can tell me about their experience? What did you like what didn't you like and how was the pay/benefits? Thinking about leaving current company.

Is there a good resource to benchmark ria salary/benefits? I have about 8+ years of ria experience with about 3 of those as lead advisor. I think I might be underpaid. I have seen some general salary bands but looking for something I can use to help understand where I should be.

Any feedback from JPM Private Client Advisors here? WLB, comp structure, benefits, products offered to clients.

Have a few friends who took roles recently and they are raving about it but have only been there for a few months. Thinking about making a move. Thanks for any input

Any recommendations for which 529 plan to choose?
I am a NJ resident and we have no tax benefits.

I’m currently a Account Exec. with 2.5 years of experience and our whole book is company 401k plans. We help manage 80 plans with a $250 million in assets. I have my securities license and am on track to becoming an advisor myself in the next year or so. Since my position is fairly niche it is hard to find what the going compensation rate is for my position, does anybody have any experience with managing CSA’s in a similar role?

What's the most effective way for a small RIA to recruit FAs who have a few years experience, want to break away from large/corporate firms? I'm a $70M fee-only (commissions for insurance) independent RIA with a generous comp schedule that enables FAs to own their own book while they grow. As the owner, my focus is to help FAs succeed; as a firm, our focus is on client service and helping them succeed. I can afford a small salary, but not benefits. I'm especially interested in female FAs.

Client has old 401k we are trying to find & it’s been a struggle. Old employer is out of biz, Voya doesn’t have enough info to tell is where it is - just that act closed. Any suggestions? Continued..

I'm contemplating going independent, but health insurance has been a huge problem. I currently pay under $4k/yr in premiums for a fairly nice plan, a comparable ACA plan is $2k...a month! How are you handling health insurance out there?

We are in the process of consolidating accounts for a new client and moving them over to Charles Schwab where we custody - all straight forward stuff. The client has an old 401k from a previous employer and filled out the paperwork with that 401k to roll it to Schwab. So about $470k hit her Schwab account last week. And then exactly 7 days later, another $460k hits again. Both from the 401k custodian. But her account was only $470k. I think they messed up royally. Now what???

I work with small business retirement plans and the profitability of different companies is amazing to me.
I have a small dog food company and a local flower shop, each with 2 owners, who max out their 401k every year for both owners, plus 25% profit share.
Who knew there was that much money there?

What percentage of healthcare insurance premiums do you pay for your employees or what percentage does your employer pay for yours?

What’s the general guidance on the order to maximize retirement contributions for tax benefits for an normal individual and for a self employed/small business owner before moving to taxable accounts or alternate vehicles like cash value life policies?
I’ve seen for individual: match trad 401k->match roth 401k->max roth IRA->max trad IRA->max trad 401k->max roth 401k->max HSA
For self employed: max SEP IRA/solo 401k->max roth IRA->max trad IRA->max HSA

Of course situations differ but in general?

Debating an offer from JP Morgan for VP Private Banker. Would be a big comp increase but also a role change. I'm currently a private banker on the lending side with 15 years experience with a cush gig and zero sales pressure. JPM pros are comp, a new challenge, build skills, expand network. Cons I lose my nice corner office and 30 hour work week, worse benefits/perks, and I'm apprehensive about the culture/sales pressure. Any insight or advice?

I’m hiring Protege Financial Advisors for opportunities in NJ. I’m an active advisor and sales manager for my firm, a local Guardian agency. New advisors receive full benefits, including medical, dental, vision, defined benefit pension, 401(k) with 3% match and Roth options, tuition reimbursement and more. If you’re interested in a new opportunity, please message me. Thanks!

Pension vs lump sum
Does anyone have a good online tool that illustrates the differences in easy to read analysis to present to clients?
Thanks!

I’m a non resident alien, and recently secured my first job in USA. My employer doesn’t match my 401k contributions until a year of employment. My long term goals do not include retiring in the USA (subject to change). I was wondering if it would make sense to invest in the 401k, and also hoping to learn more about Roth/IRAs. Any advice would be helpful.

Can anyone recommend a company to use for a solo 401k for myself? I'd like it to be full service if possible. I don't want to have to worry about record keeping or 5500 reporting when it gets to $250k. Best if it's an open architecture platform. Thank you.

New advisor- just graduated college in May, I’ve been looking for a target market and decided on Higher Education Faculty at a large university by me. What are some good fact finding questions to ask prospects about their retirement plans so I can become well-versed in the University’s retirement/benefits plan.

If you loved your small independent broker dealer but they had just been acquired by a much larger corporation which does have benefits in terms, mostly, in technology, but you lose your “family” in the home office, what would you do and who would you look at if you were considering a change of your own?

When a company transitions 401k providers, and funds are being mapped over, do the funds stay invested throughout the entire process? Or are there typically a few days out of the market? Cont...

Sure feels great to see my 401k take a huge dive just as I finish my first year of contributions

Health insurance Q: I’m choosing between 2 Anthem PPO’s, gold or silver. Gold is higher monthly fee, lower deductibles. Silver is low monthly fee, higher deductibles. In Cali. Any advice on deciding?

Has anyone tried mediation to reduce stress, increase focus?? Have you seen any changes or benefits??

Anyone ever used the Warton Group? Their marketing emails say they have preset appointments with 401k plan sponsors that are shopping their plan. The advisor is charged for the contacts. 1/2

If someone goes from full time to part time employed....should they be able to move their 401k elsewhere?