Pyramid Scheme/Entirely Unethical - District Manager Equitable Advisors Employee Review

1.0
10 May 2023
Recommend
CEO approval
Business outlook

Pros

None. This is not a serious or reputable organization.

Cons

Equitable Advisors has a business model designed to scam prospective advisors and ignores all business and industry ethics when dealing with prospects and clients. Both local and national sales leadership repeatedly insist that managers take advantage of candidates for employment by leading them on until their contacts are known in order to become clients of your own. It was said repeatedly that it doesn't matter if a candidate is ultimately successful as we will either take their contacts or they will succeed and pay up the pyramid to us as managers anyway. We were coached in the interview process to tell someone that has good connections "anything they need to hear to get them on board". Regarding the treatment of clients, they are no better. On multiple occasions I heard senior leadership say that Regulation BI only matters after you as an advisor get paid. This is a blatant disregard for an advisor's legal and ethical responsibility to the client.

Explore other reviews about Equitable Advisors

5.0
2 Apr 2026
Recommend
CEO approval
Business outlook

Pros

Compensation structure, product availability, brokerage system, overall tools, open structure to do best for your clients

Cons

Support staff are more hands off, not a lot of in house support staff members.

1.0
8 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Good place for career changers to get financial licenses (they will license anybody)

Cons

Very bad pay model for new hires- will tell you 6% commissions on certain products but then you have to kick up 10% to your manager and the other half of what's left to whoever is working w you because they make you go out in pairs...and mostly seem want to get ahold of all your friends and family for sales you can't participate on without the 66....but you have no time to study that bc you are too busy selling for the products that don't require it to make quota, as your clock starts when you pass the 7, so pretty much they just want your people. It's very eat what you kill, and then only after it's been picked over.... which is fine if you're young with no obligations, but not great if you have a family. If you were an existing advisor and had your own book/contacts it could work. Otherwise get your licenses, learn a little, but don't be afraid to move on to other opportunities.

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