Financial Advisor Nyc

my friend is an attorney and she's going on an interview on Thursday and has no idea what the salary range is... help.

entry level salaries tend to be around $50k for big firms

with financial advisor positions though, I'd expect it to be much less and more based on comissions / bringing in assets.

2007-08-21 12:49:32 by colombiana82

Bradford Pine is a Wealth Advisor in New York City providing personalized financial planning and wealth management services for affluent ...

The only thing that you can really do now is to get more education. Go back to school and get a graduate degree in a field that you want to get into. This way, you can transition out of sales. Firms will ask you why you're leaving sales, then you can respond by saying that it wasn't your cup of tea, but you found out that you liked XYZ more when you were out in the real world.

2008-04-12 15:01:35 by Bridgett R

Avoid big brokerage firms. Seek an independent advisor. Interview several then pick. Low cost is rarely the best, it is just the cheapest.

2006-08-07 12:56:04 by joeyluca2003

I am graduating with a MA econ this Dec. I just got the offering as a financial advisor (or planner?) in NYC from the biggest insurance company. I have no working exp. Should I take it? Is there any different btw financial advisor/planner/agents? The recruiter said that the first yr avg. commision is 90K. Is it true?
Thanks for you reply. The company is not NW mutual. They offer me a base salary for 19months. But in order to get it, I have to get 10,000 annual premium in total before signing the contact. (is it too aggressive)? they told me to pass the life first while still in sch and sell the policy in sch first. (is it ok?)
I want to ask if I quit before 19weeks, do i have to pay back the base salary and any penalty. I did want to ask the recruiter, but the more I ask, he said that I am not determined enough.
sorry,,is 19 weeks only.

Be very careful about what the recruiter tells you. Remember that most recruiters work on a commission basis - so their objective is to get you hired so they can get paid!

From what you're describing it sounds like you're talking about someone like a Northwestern Mutual (or similar company) "financial planner". I'm not from NYC but I would say $90k commissions the first year is high no matter where you are. If you're selling insurance products then you're going to have to build up a client base before your residual income (commissions) really start to add up. If you're not naturally the salesperson type, then this could take you some time.

Are they are going to give you a base salary at least for the first year? Take that into consideration and err on the side of caution before deciding to take the position. NYC isn't cheap and you need to make sure that you can afford to live while you're building up your book of clients.

Also, yes there is a difference between a financial advisor/planner/agent, etc. But, more importantly there's an even bigger difference between people who are basically insurance reps/agents selling what they consider to be "investment" products (i.e. whole life/cash value insurance) and actual certified financial planners. Most of the clients you want to get to reach the $90k/yr. commissions are going to be money wise enough to deal with someone who is a CFP or CFA, etc.

Good luck!

2007-10-19 20:57:46 by GNIW

Does anyone have any experience working as a Financial Adviser and/or Stockbroker trainee, particularly in the NYC area? Whats the job and training like? What requirement had to be met for hiring (i.e. education, previous work experience, etc..) Hows the pay? Did you stay with the program, and if so what has the outcome been? Is this a good career path to follow?

I currently work in retail sales and am wanting a career change. I am very curious about this line of work. Any and all answers are greatly appreciated.

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2009-09-20 20:40:58 by papo_g