What are the benefits and disadvantages to being a financial advisor in a bank vs. another independant firm?
Question:
Answer:
Advantages of working in a bank:
- Warm leads, Referrals from Bankers and Tellers
- No knocking on doors
- Customers are already in the branch. It's really about working with branch staff to profile correctly and refer customers to you
- Business Hours
- Corporate/Professional Environment
- Opportunity for growth
- Depending on size of branch(es), you might be assigned to 2-3 different branches which provides more opportunity of meeting different clients in different areas
Disadvantages of working in a bank:
- Commissions are less
Advantages of working for independent firm:
- Maybe better pay
- More "independent"
Disadvantages of working for independent firm:
- Not set schedule, you might have to be at customer's house at 9pm trying to sign docs/contract
- Knocking on doors, building your own book of business
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