Amazing office culture with talented sucessful and driven people. Great place to learn about financial services and get your foot in the door as a young grad or college student. You will recieve very good sales training and communcations skills.
The contracting process takes FOREVER. Interns must know that they cannot get paid on stipends for up to 2 months of working at the firm. 100% commission pay structure makes it difficult for recent college grads to stick around. Those who succeed here will likely get far better and more competative offers for sales positions in other firms. Managment needs to be realistic with interns about expectations regarding payment.
After fasttrack, the firm didnt provide too much on going learning, this responsibility falls on the intern's mentor. While my mentor was fantastic and taught me alot, other interns have had a drastically differant experiance.
The lack of retention is not good for moral.
Advice to Potential Interns
If you are in college and dont have to pay too much out of pocket, then this is a fantastic place to work. Dont expect to make much if any money at all. Use it as an opportunity to learn about financial services and sales. This is NOT for everyone, you need to have a type A personality and be comfortable with people.
Advice to Management
Training is the most polished and proffesional part of the program, I am assuming it is this way because they have to do it so often given the poor intern/full time retention. The nature of this industry lends itself for a long sales cycle, it can be tough for a new grad to handle this without any form of compensation. Most wealth managment firms and sales organizations provide a base salary for at least the first 6 months. I would highly reccomend a small base after some metrics are met (power 10) in order to increase retention and boost moral. If you want to retain your talent, you MUST step it up with some kind of base salary compensation.
Diversity is great with plenty of differant people from differant backrounds. The hours are what you make them. You can show up 7am-6pm or from noon until 4pm, its really up to you.
It can get exhausting calling on friends and family and can be damaging to relationships.
Some form of call training and lead generation services for new interns can help.