Avantages
Opportunity to make a substantial amount of money but it takes at least two years for this to build up. Decent team work and senior advisors to learn from.
Inconvénients
1. You do NOT own your clients. Be careful when you sign your contract. When you leave the company, you are under a strict 1 year non solicitation agreement meaning they will sue you if you attempt to take any of your clients with you. Management will gobble up your clients and can do so at any time for any reason. 2. CHARGED MONEY TO LEAVE. Equitable will send you a bill for any commission they allegedly overpaid you when you worked there. A debt collector agency - Thomas George Associates - will reach out and demand you to pay - in my case of $12,000. 2. Pressure to sell to friends and family. Without a natural market you are forced to cold call or work their retirement benefits group where you sell high fee variable annuities to teachers. They recently settled a $50M fraud charge with the SEC as a result of non disclosure of fees. 3. Mandated to Sell Equitable Proprietary Products. If you fail to sell these products they will cut your health insurance and other benefits. 4. Base salary is $24,000 for 2 years and you get paid half your salary 5. Required to pay for your own cubicle, technology, E&O insurance, phone, laptop, license fees, etc. 6. As a result, the turnover rate is astronomically high. Management's goal is to hire as many unsuspecting young people as possible so they get paid a bonus. Then when that person fails out, they will gobble up the clients and enforce the non complete agreement.