Hello gents, I recently received an e-mail invitation for an interview/presentation with Ameriprise Financial. I wonder whether this is a reputable company and how does it stack against better known companies. I've already visited the company website, no real help there. Also, is paying for your own licensing fees (series 7, 66 etc..) a common practice among other big name companies for their FA's.? thank you for the feedback.
Is AMERICAN EXPRESS reputable enough for you? Who is better known? Insert foot in mouth . http://www.americanexpress.com/ameriprise/general_transition_page.shtml
You use to have to pay for your license. Then if you ever got to earning any money they would allocate overhead to you. Check on site www.financial-planning.com they should be able to answer your question because this was 15 years ago when I talked to them.
No matter what they call it now, it's still American Express. If you're looking to break into the business, I suggest Merrill or another major brokerage. Good Luck
American express had a bad rep in the business. They simply cold call, sell proprietary products, and try to make people pay huge amounts for "financial plans" which are very simple. If you want to be a broker...Stick to Merrill, Morgan, Goldman...one of the big boys. yes, the firm should pay for your license and a small base salary for 2 years while you try to find clients.
I would stick the big boys - Merrill, UBS, Morgan Stanley, etc. I left the brokerage business in July 2005 and haven't looked back. The business has gotten very difficult for the brokers to make any money. As soon as you do, someone is breathing down your neck to see why you are making $. God forbid you're actually doing the work. PS Yep, Edward Jones isn't too picky on recruits... They can talk a good game, but after that $75 million lawsuit, things changed.