Financial Advisor Training

Does anyone know about the UBS Fiancial Advisor training program? I am considering changing careers and was wondering about the company and training they offer. I have read many complaints about Ameriprise,etc. I am a top salesperson in my industry (not financial) and was looking for input.

It is a tough field right now (with a possible recession looming), however; if you have solid "sales skills" you are at a decided advantage over career changers who just fancy the financial services industry and believe it is all glamor.

Do a side by side comparison of what firms offer to get you started, and if you have a solid sales track effort, you may be very successful in the long haul. Eventually you may wish to obtain a CFP designation (Cert. Financial Planner).

Also as a financial services executive, I recommend checking out www.learntosucceed.biz. They can make the difference, sound career advice and they will answer your specific questions.
Good Luck.

2007-12-28 06:32:16 by Wondering????

careers.edwardjones.com Part one of our three part series. This segment provides an overview of the Edward Jones Financial Advisor role for recent ...

Anyone know any good training or companies for financial training or any other sales careers?

I work for a company that offers training and support. Huge opportunities. email me if you would like more info.

2007-06-23 19:58:07 by iceman2020

Price: $14.99

Do some of the bigger companies offer a guaranteed salary? I know that Ameriprise offers a "draw" - but that is not the same as a set salary. Any comparisons between firms out there on the internet?

Approximately 60% of Ameriprise Financial financial advisors are independent contractor franchisees. This means they are not employed by Ameriprise Financial, nor do they receive a salary from them.Employee financial advisors and associate financial advisors receive a salary from Ameriprise Financial Services or the independent contractor franchisee advisor. A portion of the fees customers pay on its products and services go to financial advisor in the form of commissions.

In Merrill Lynch , Financial Advisor Compensation Program is aligned with the business strategy, and it rewards Financial Advisors for implementing solutions that address their clients' best interests.Compensation for a Financial Advisor is a combination of both current cash payments and longer-term deferred vehicles. The cash payments are based on a "grid," which is determined by factors such as transaction size, product type, and the Financial Advisor's length of service (LOS). The "grid rate" is the percentage of the total commission that is paid to the Financial Advisor. Longer-term deferred vehicles include equity grants to eligible Financial Advisors, a growth award based on the year-over-year increase in a Financial Advisor's business, and a 401(k) program

2008-01-01 10:30:43 by Chris K

Price: $1,800.00 $997.00

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I am considering entering a financial advisor training program at one of these large banks. I was told that the washout rate for new FA's after 2-3 years was pretty high (over 60%), since you have to be able to attract a fair number of clients to make it and many new FA's fail to do so. My question is, if I fail as an FA (which, given the odds, seems likely) is it possible or easy for me to take whatever I learned as an FA and whatever certifications I may have achieved and transition into some other position in the financial industry, other than being an FA somewhere else.

Yes, you could transition easily but you will have the same problems AND this type of business is built on recurring commissions and loyalty and referrals. Even if you feel you are good at it, it takes a while to make decent money, you will need a good support group to help you through. It is a sales job.

2007-07-27 13:01:19 by Gerald F

I work in retail and hate it with a passion. I love the business and numbers side of my job and i'd love to be a financial adviser. Does anyone know how I'd go about it?

As a former Financial Advisor myself, let me tell you that most people get started by being hired by a financial firm. They'll either send you to school or give you self-study materials to prep for the tests. And you'll need to pass some exams in order to become licensed. Which exams and how many depends upon what you'll be selling.

For example, a stockbroker needs to pass the series 7 and 63. Insurance agents have different exams that focus on insurance products. And if you want to be an independent, then you may need the CFP--Certified Financial Planner certification or the CHFA--Chartered Financial Advisor certification.

Now I do want to be honest with you on this one point. With the credit and housing crises, the financial sector has been devastated! Banks, brokerage, mortgage companies, and insurance companies are struggling right now. Yes, many are still very strong and not in danger, but the industry as a whole is struggling and being impacted.

Now I'm not telling you to avoid becoming a financial advisor. I'm merely stating that you should consider whether now is the right time to get into the profession. And if you decide it is, be careful whom you decide to work for! In other words, I would suggest staying away from small companies.

Also consider financial advisors make their money off commissions. And with consumers struggling and cutting back, it might be tough to drum up business. And even if you focus on businesses, they're suffering too and are also cutting back on spending. So competition among financial advisor is more intense right now as a result.

2008-10-20 09:12:20 by ~Cat~