Job Responsibilities
Manage a retail brokerage office with 70 Financial Advisors, 35
Client Associates and $65 million in annual revenue. Responsible
for the overall compliance posture for the office, including
preparation for internal and external audits. Review and resolve
all customer complaints. Represent the Firm in all regulatory
matters including any arbitration matters. Prepare, review and
monitor the office budget, including managing the variable
expenses to budget targets. Responsible for the office
facilities, including office furnitue, equpment and computers.
Spend approximately 60% of my time on compliance and client
related issues, 20% on people and personal / human resource
issues, and 20% on operational and administrative issues
(facilities, budget, etc.).
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Job Requirements
College degree, and being a regulated business, you need to be
able to pass regulatory exams.
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Uppers
Lots of responsibility and daily decision making.
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Downers
Stressful, the nature of the business of includes alot of factors
beyond your control (the market, economic conditions, etc.).
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Lifestyle
Travel is generally limited, may include some offsight meetings, seminars, etc.
Hours are fairly long and hectic. My average workday is from 7:30 AM until 6:30
PM, and usually includes at least on Saturday per month.
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Compensation
Salary ranges from $75k to $125K depending on the size of your
office, your experience, your length of service, etc. Benefits
are good. Bonuses and stock options are good but are totally
dependent on how well the Firm does.
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Advice to Jobseekers
There will always be a need for good Administrative Managers and
Compliance officers but the real money in the brokerage business
is in sales and investment banking.
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