I work here as a Financial Advisor ask me anything.

>>1289221
what happens if you dont meet your quotas

>>1289274
Basically you wont get the comission on your portfolio and youre stuck making 60k which is shitty if it is a habitual problem you get put on a performance plan

>>1289298
Is it worth jumping into? Sounds like it requires a CFA

How's the career growth potential

>>1289221
currently studying for the 65 to start a small private fund. What does your fund look like?

>financial
>advisor

How do you sleep at night

>>1289360
Nope no CFA required just your CSC, there is decent career growth if you want to do a CFA into management or other roles just need to perform

>>1289372
I am licensed under IIROC so I can offer a variety of different things outside of CIBC funds but its frowned upon

>>1289376
Not very well the job can be somewhat stressful at times, the general public are morons.

>>1289221
What's the worst thing you've done to meet your quarterly goals? Selling people shit they don't need? Cutting regulatory corners? Outright scummery? What's the worst thing you've ever seen one of your peers do to meet theirs?

>>1289221
what is your overall outlook on the current market?

>>1289409
Probably the scummiest thing ive done is sell clients Market Linked GICs. The worst I would say is ive put nearly 250k into Market Linked GICs that are indexed to a Managed Income Fund. Mostly because they require us to sell these to elderly clients who do not want to go into the market. You can imagine the rate of return though on such a device.

Scummiest thing ive seen is an entry level advisor take clients out of line from the tellers to help make deposits and pocket the cash through a loop hole in our system. Accounting error wont show up for weeks if not months and at that point its written off.

>>1289427
The Canadian economy is going to buckle and fall unto itself like a house of cards under Trudeau. Housing bubble in Toronto and Vancouver are reaching a point where the bubble popping is just inevitable. More chinese will try to flee and park their money here but the crash will come and it will be glorious

>>1289221
I'm going to school to be you. How's your job satisfaction? How challenging would it be to hit six figures income?

Im going to be going to my cibc branch to move about 12k out of mutual funds i bought a while ago to my investors edge account to buy ETFs instead. Will my guy try to pursuade me out of this in some way? I assume he makes some sort of commision off selling mutual funds. The management fees are just way too high and the funds dont perform as well as my etfs have been.

Whats the best skills to have for the job?
How would you rate your people skills?
I have my csc, bachelor in finance, some actuarials exams, CFA level 2, and both FRM exams.
But Im ugly so, I dont know about a job working with customer..

>>1289446
Get into management instead, its less stressful and you may take longer to reach 6 figures but its worth it for your overall mental health

>>1289449
No one makes commission off of selling you mutual funds. Normally an advisor will suggest mutual funds because 9/10 people we deal with are morons. Mutual funds are great for them they get a decent return and dont have to think.

My advice would be to consider the cost of trading with investors edge can get expensive really quickly 6.99 a trade made me reconsider using it for my own personal investments.

>>1289453
Be able to make small talk, make people smile and engage in conversation. Being personable is one of the most important skills you can have. I know a lot of advisors who are well educated but are autistic when it comes to dealing with clients and cant relate or talk to them so naturally people dont want to come in or refer friends to them

>>1289465
Thanks Anon, I understand the importance of soft skills, im working hard toward people skills.

>>1289465
>6.99 a trade made me reconsider using it for my own personal investments.

what sort of trading do you do for yourself? have you done well? an interactive brokers account has a commission of 0.5 cents per share. which is nothing. my point is there are alternatives to big banks for people serious about trading.

>>1289465
>Get into management instead
Thanks for the tip. I think I'd be particularly effective in management, but it seems like such a broad thing to jump into. If I study finance, would the next step be getting my MBA and just applying for management positions?

>one needs a bachelors to get into any sort of hedge fund
>when you can't just start up your own cause you don't have millions upon millions