Facts on becoming a financial advisor? salary? hard or not? anything else u can think of that u can tell me?-Some of them are in-house positions at banks or brokerages. These kinds of positions require financial knowledge, and often some experience in the field. They can be lucrative (with a base salary plus commission.)
The low-end of the field are essentially cold calling sales jobs, where you set up appointments over the phone for a different, more experienced salesman advisor to meet with strangers. You get commission on any selling that gets done (maybe a 70/30 or 50/50 split on the future value of the 1st year's commissions.)
Here's the "fun" part of the low end: Any arrangement that gets canceled out, you owe back the commission that was advanced to you. AND you're essentially an independent contractor. It's all on you to succeed or fail, and you're essentially doing cold calling sales. Success means that eventually you get to be the one directing 3-6 cold callers to make appointments for you to directly sell (and split the comission with them.)
Basically, unless you already have an extensive network of people to sell to, the low end is a way to starve over the course of a year. The high end will require you to have some kind of business or finance background. In general: If it's a "no experience necessary" position, it's most likely a sales job by another name. But there sure could be exceptions out there.
Either way, take an interview if you can get one. Just be ready to ask questions about when and how you're paid (salary/ commission/ mix,) what kinds of leads are provided to you, how much and what kinds of training you can expect (product training? sales training?) and tack down just what kind of support will be given to you. Also, how long will it be from hire until you start clearing money.
0 Response to "Facts on becoming a financial advisor? salary? hard or not? anything else u can think of that u can tell me?"
Post a Comment