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My fiancé got approached for a Sales Executive Role at Instacart. Anyone have any insight into the company, job security, culture etc? They mentioned 100k base, 40-60% variable comp and an undisclosed equity grant. She’s already making 130k in a very secure job, so we are thinking no, but want to do our homework first.
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Ask for the average age of the clients you are getting, ask to see inflows vs outflows of the book you are inheriting. Ask them how they view/segment clientele.
So many variables to consider:
Will you own your book? If not, will you be able to buy it?
What happens to your clients if you leave? Is there a non-compete?
Is it salary or fees? What's the split, and how does it change with growth?
What other benefits are there?
What technology, admin, and investment support will you get, and who will pay for it?
Who pays for licensing, office, marketing materials?
Do they provide an office? If so, is there rent?
Are there performance goals, bonuses?
Do they help you grow with leads, industry carve-outs, workshops?
Does the RIA's culture and values fit your own?
Have you talked to anyone who works there, aside from the people trying to recruit you, to get a sense for what it's like to work there?
Are the firm's and its advisers BrokerCheck incident-free?
Is there an employment contract? If so, have you reviewed it?
Going the RIA route is definitely a good direction to head, but make sure it's a good fit for you. I've had the misfortune of getting into B/Ds and RIAs who have outright lied about themselves in order to recruit me, and I was far more trusting than I should have been. These are questions I should have asked and research I wish I'd done.
Good luck!
Community Builder
As long as you will have ownership of your book going Independent is a great way to monetize your practice and set yourself up for future success. Best of Luck to you!
Thank you!
Depends on what you want. Is your long term growth at jones going to result in a higher payout and flexibility?
Are you salary only at RIA? Or commissions too?
A lot of factors go into this question.
Unless you are unable to function as an independent thinking advisor and thusly need Jones’s rigid framework, you’ll be much better off going independent. And your clients will be better of as well!
(I left Jones 3 years ago)