Becoming a Financial Advisor with Ameriprise?

Question

I was offered to be a financial Advisor with Ameriprise a.k.a American Express. Is this a good job? Are there any people out there who are Financial Advisors who could give me a bit more information about it? This is a huge company, but I'm not so sure about the selling/cold calls if I will have to do anything like that or if they supply you with leads, clients etc. Any info you have would be great! Thanks!

Answer 1

Everyone is offered the opportunity to be a Financial Adviser with Ameriprise. You will work very hard (after you get your7) for a very long period of time selling - if you can hang in there, you could be very successful (as with any career, I suppose) - I had the opportunity "offered" to me 10 years ago when it was American Express - I had my license and they wanted me right away - but I was already at another firm doing the same thing, so I politely declined. I then went to work at a discount firm and then an on-line trading firm - a good portion of people that come into my training classes come from Ameriprise and Edward Jones....the turnover rate for those organizations (as well as other sales organizations I suppose) is very high.

Answer 2

Usually when selling insurance or annuities (or anything related to that) financial advisors will have to find their own leads. It's hard work because you have to prospect new clients, you might have to start with your parent(s), and have them help you network. I was an insurance for a while and one thing that turned me off to the career was people asking for a meeting to talk about my services and then cancelling at the last second.

Answer 3

#a million you won't be able to be an FA "area-time" except you're already independently wealth and don't desire an earnings. To develop right into a valuable FA you the two might desire to inherit somebody's e book, purchase somebody's e book, have a type of wealth pals and relatives that have faith you to make good investment judgements, or artwork your @ss off for 5-10 years to construct a corporation. that is not any longer undemanding, yet you will finally end up creating lots greater funds than lots of the different human beings around you. #2 The wirehouses are no longer dumb. i think of the utmost paying one is Merrill Lynch, they have a 2 year rookie application called POA. you're able to desire to collect 15MM in factors (10 of which will desire to be annuitized, or cost based). They pay you for the 1st 2 years of production then you particularly're on your individual. They (and all the different BDs) make you sign a settlement that exhibits which you will no longer get approved and then bail. in case you do, you owe trainiing fees (~80k). Now, you need to continuously get liecnsed and then basically slough off and have them hearth you, yet that does no longer practice you something and you does no longer get any shoppers that way. #3 do no longer think of that in case you do start up your individual indie business enterprise and carry close a shingle that anybody will come-a-knockin'. that is stressful sufficient to get corporation once you have a celebrity on your business card. have faith me--while you're no longer waiting to artwork 60+ hours a week, early mornings and previous due nights, then do no longer even waste it sluggish.