For those at a bank. What is the difference between working as an FA vs. being in the private client group?

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Think they were referring to Advisor private client group...??? If so, bank FA has a little lower payout grid but gets referrals from the bankers in their branches. Private client group does not get internal referrals generally but has higher payouts. Both have fully open architecture and schedule freedom. Been a bank FA for 7 years and love it!!!

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FAs work on commission, Private bankers get salary + bonus. The team structure is also quite different, FAs is more of an independent contractor, where as a private banker works in an integrated team (with primary responsibilities of being in new assets and clients).

When i worked at the bank my comp plan sucked and my approved products were extremely limited. I was not a fan

Is Finet the best of all worlds?

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