Good training but unsustainable income - Financial Consultant Legacy FA Employee Review

1.0
4 Mar 2019
Recommend
CEO approval
Business outlook

Pros

-There are trainings every week to ensure adequate knowledge. - Call centre training is ok - Managers are friendly and approachable - Flexible timing

Cons

- Low banding of commission - Allowance scheme only based on one company’s products and only the non-par plans are taken into consideration 100%, par-plan only takes in 10% for production. - Payroll updates are slow, inefficient assistance after leaving the company. - Mainly relies on cold-calling which can be quite unsustainable in the first few months (so be prepared for no allowance). - Roadshows are on the extremely high side for the industry given the location is not fantastic. - A lot of paperwork to be done and can be extremely troublesome unlike in tied agency. - CEO can be manipulative

Explore other reviews about Legacy FA

1.0
9 Dec 2025
Recommend
CEO approval
Business outlook

Pros

No need to pay rental for office cubicle

Cons

Many claw back if you never read contract

1.0
27 Mar 2025
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Flexibility as an advisor to pursue the types of clients you want.

Cons

In my opinion, these are the following: Compliance is a headache. Admin staff are poorly trained and often ask stupid questions. Management is stuck in the past and practices a churning turnover culture. They will fire you once you have exhausted your warm contacts. They will force certain products down advisors' throats and in turn expects it to be forced onto clients. When you are no longer able to generate revenue, you will be "forced" to go. Politics here is more colorful than a circus clown. CEO loves to use scare and intimidation tactics and doesn't know how to speak like a human being. Like Donald Trump says, this CEO lacked common sense. He would resort to screaming and raising his voice to get his way. Highly unprofessional human being. There is nothing much to learn besides selling. A waste of time company if you are looking for longevity. Like the late Warren Buffet says, rat poison squared. If you value your time and life and have a book of clients, you might want to consider somewhere else. This company is a one trick pony. Commission structure is also average.

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