Financial Advisor Trainees

I'm sort of new to the business, but do have sales background. I'm sure it'll be demanding, but is there actually a good base salary involved? Or is it pure commission? Thanks everyone!
Any word on what the base salary would be? Is it worth it? I don't have any offers elsewhere, although I did apply for Edward Jones, and Raymond James elsewhere. Currently in central Ohio. Thanks!

As a trainee, you will get a (pretty low) base salary. But, the base salary phases out as your training progresses.

If you go to UBS, they will try to match their base salary to what you are currently making. For instance, before I started at UBS, I was already making pretty good money in another organization. So, they paid up to half of my salary as base salary for being a FA in their company, which was pretty good.

But, I don' t think MS has a program like that.

2008-03-31 11:01:53 by phantom5251

This is a commercial that was on CNBC, we are looking for brokers and also trainees

Most of the major brokers training programs are between $30-60k, depending on your experience and knowledge in the field. Usually after an 12-24 month probabtionary period, you need to start bringing in clients and making numbers. If you don't you won't last.

2008-03-06 17:04:39 by mangolovings

Was 24k a couple years ago. If you don't pass your test you can get terminated immediately. 1 out of 3 make it after 3 years. Also, you get terminated if you pass your test and end up in the 4th quartile after 3 mos. If I were you I would pursue looking for a bank financial services trainee program. Hard to find but they are out there and they are less cut throat.

Morgan Stanley is good if you've already got a lot of connections with money who are willing to invest. My friend was a college football player for a division 1 school where a lot of players went to NFL. He did really well and got his name out there by word of mouth. Unless you want to be the cold calling king trying to find a needle in a haystack it really gets old quick. Look for a cush job.

2006-05-31 16:31:37 by nagwa_a

I think they have a number of interview questions listed on their website, if you haven't looked already. Also, vault.com has good finance interview questions too. If you still need more prep., then stop by Barnes and Noble, they have many books on finance interview Q&A. Hope this helps, I'm in the same boat. ;-)

2006-07-30 13:54:08 by jenyhuaman

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