Equitable Advisors just had a recruitment call with me and they want to prime me for being a Financial Advisor. What do y’all think. I’m scared lol. I was under the assumption it was for another position like a regular 9-5. WM consultant where I’d be paid until I get my certs. But he made it seem like I wouldn’t get paid until my business is built. It’s cool but I need to get paid while pursuing the certs and licensing. Any advise? Based in Charlotte

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I interviewed with Equitable. Generally, no salary. You will “eat what you kill.” It may be difficult in the first few years as you build your practice. Get fully licensed as soon as possible if you choose this path. And Equitable specializes in the 403(b) space.

likesmart

So how do you feel at this point in your career? I’m not especially interested in being a FA but this guy is pursuing me. I’ll probably say no bc I need income

By "certs" do you mean FINRA licenses?

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Oh okay thank you for the heads up. I’m probably going to pass. I don’t even want to be an FA but was being recruited for it. This deal sounds like struggle

So, the majority of your compensation would be based off the income you generate?

I probably would say no. I feel like that would give me incentive to come off like a pushy salesperson rather than responsibly manage money.

Maybe I'm misunderstanding though.

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I think that’s what he meant .

I worked as an FA right after college for Equitable (AXA Equitable at the time). It is very much a sales-oriented role and you will be expected to find the clients to build your book of business. They told me they had different comp structures at first (offering a small base salary plus reduced commissions, or a higher % of commissions if I went the commissions-only route) only to have the team lead back out and tell me the salary wasn’t actually a real option after I started.

It was very stressful for me, I was just out of college and have never naturally been as salesperson. And they really want you to push their products (expensive annuities and insurance products). If you are coming as a newbie into the business, they will have you hounding friends and family first. Overall, I didn’t like the job because I thought I would get to be more analytical (in actually structuring solutions/portfolios for clients) when in fact most, if not all, of my time was spent trying to find clients. You’d expect for that to reverse the more tenured you are, I suppose, but I left that industry within a year. Not my cup of tea.

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