JPMorgan Chase Financial Advisor Associate Information and Advice desperately needed!

Get new comments by email
You can cancel email alerts at anytime.
Comments (4)

Financial Guru in South Atlanta, Georgia

38 months ago

Do you have any advice on being an FA at JPMorgan Chase?. I read some articles that said the FA's with JPC are required to be at the branch every minute that the rest of the bank staff is in the branch, is this true? Are the FA's micromanaged? Is their a salary for the first two years or is that a draw against commission? How much? Do the FA's have to sell certain products or do they have the opportunity to sell what they genuinely feel is the best investment? I don't mind busting my keister for a few years to get a head of the game, I just want to know what I am getting myself into.

Thanks!!!

- Was this comment helpful? Yes / No Reply - Report abuse

tobias in Boise, Idaho

34 months ago

Did you ever answers to these questions? I have the same questions myself. If you have found any good resources please let me know. Thanks.

- Was this comment helpful? Yes / No Reply - Report abuse

Sapient Cap in Florida

33 months ago

tobias in Boise, Idaho said: Did you ever answers to these questions? I have the same questions myself. If you have found any good resources please let me know. Thanks.

I was an FA at CISC(Chase) until recently. Coming from a warehouse prior, it was quite a change.

To answer in summary, the ability for you to grow assets is very good, however at industry low grid payouts, after the compliance nightmare with absolutely zero support, you find yourself wondering why you don't just bag groceries while the firm digests the majority of your commissions. The management is terrible on the FA side of the firm, and the different sides of the bank reap all the benefits of your referrals of clients, without often returning the favor but quite the opposite; they often create massive stress in a relationship with your client which prior to the intro was healthy.

You are required to be there at all hours of the day, without compensation for the hours, and this includes some Saturdays. Despite constantly reminding some that you eat what you kill, you are better served by just saving your words.

At the end of the day, there are some very nice people to work with, but they hardly outweigh the bad. Not many people there are happy, regardless of role. But, Jamie Dimon is a CEO who is known as a great shareholder CEO. That unfortunately comes at the expense of customer and employee satisfaction.

As far as salary vs commission. I'm not sure if you have been in the industry before, but as a financial advisor regardless of where, you work for your clients in my opinion. They pay you commission. There is not salary in this career, and in my opinion there shouldn't be. salaried people are slackers, and as the general practitioner of people's wealth, you cannot be a slacker.

Oh and lastly, the products available for clients, including the research therefor, is hardly enough to provide sound financial solutions that must include downside protection.

- Was this comment helpful? Yes (11) / No (1) Reply - Report abuse

Sapient Cap in Florida

33 months ago

Sapient Cap in Florida said: I was an FA at CISC(Chase) until recently. Coming from a warehouse prior, it was quite a change.

To answer in summary, the ability for you to grow assets is very good, however at industry low grid payouts, after the compliance nightmare with absolutely zero support, you find yourself wondering why you don't just bag groceries while the firm digests the majority of your commissions. The management is terrible on the FA side of the firm, and the different sides of the bank reap all the benefits of your referrals of clients, without often returning the favor but quite the opposite; they often create massive stress in a relationship with your client which prior to the intro was healthy.

You are required to be there at all hours of the day, without compensation for the hours, and this includes some Saturdays. Despite constantly reminding some that you eat what you kill, you are better served by just saving your words.

At the end of the day, there are some very nice people to work with, but they hardly outweigh the bad. Not many people there are happy, regardless of role. But, Jamie Dimon is a CEO who is known as a great shareholder CEO. That unfortunately comes at the expense of customer and employee satisfaction.

As far as salary vs commission. I'm not sure if you have been in the industry before, but as a financial advisor regardless of where, you work for your clients in my opinion. They pay you commission. There is not salary in this career, and in my opinion there shouldn't be. salaried people are slackers, and as the general practitioner of people's wealth, you cannot be a slacker.

Oh and lastly, the products available for clients, including the research therefor, is hardly enough to provide sound financial solutions that must include downside protection.

* wirehouse

- Was this comment helpful? Yes / No Reply - Report abuse

» Sign in or create an account to comment on this topic.