This info if from "a friend of a friend" via the WPPA:
BACKGROUND ON THE COMPANY - One of the most respected names in global money management, the firm has $470 billion in AUM and is headquartered in New York.
ABOUT THE POSITION - The Financial Advisor is critical in cultivating new clients and advising existing ones. This is a pure sales role to bring in private capital management for families, individuals, foundations and endowments.
The actual money management is conducted in New York by a large team of investment research experts and money managers who keep close contact with the Financial Advisor. The client has a mid career intensive training program to teach the FA everything they need to know and to help them get their securities licenses.
The FA will have a dedicated assistant who has also been through an intensive training program. On average FAs have 12 - 15 meetings a week targeting referral sources for clients. Such sources include attorneys, CPAs, investment bankers, private family office managers, private equity firms and other trusted advisors.
COMPENSATION – six figure base plus 40% of the asset management fee. The firm requires a new account minimum of $500k. The average account is $2-3 million. Typical income at the end of the first year is $175-200K. If by the third year the FA has brought in 20-30 accounts, with an average of $2-3 million each that would total $60 million or so in AUM and pay an income of $450K.
This would be a top quartile producer. Top 10% producers earn 7 figures year after year. There are opportunities for stock grants and production bonuses in addition to the base and commission.
EXPERIENCE REQUIRED - 10+ years of direct sales experience. Candidate must have been a top producer in a previous career. Must be very intelligent to deal with the personal money matters of the wealthy and their trusted advisors. An MBA is a plus. Must be seasoned in life. Must be warm, engaging and very personable. Must have the proven ability to build a business by self generating all leads. Must be a consummate networker and enjoy attending various groups' events.
Must be able to pass a criminal history background check, a drug test and while credit scores are not important, recent bankruptcies are highly examined.
This firm is enthusiastic about its commitment to diversity and is very supportive of varying family situations.
Billy Bob Harris
Managing Director
Beta Business Development, LLC
Centura Tower
14185 Dallas Parkway
Suite 1020
Dallas, TX 75254
(972) 490-2208 direct
