I just received an offer for a VP of sales at Fisher. This feels like a step down from IB on the surface, and I know it’s more risky, but Fisher VP comp is “typically in the $250-350k range” and it’s just churning out sales 24/7, which I know I would be good at. Step up in WLB and a more long term option.
I’m open to serious insights that aren’t about prestige or whatever arbitrary nonsense interns come up with these days. Thanks.
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I'm actually looking into this exact job as well. I did 2 years in s&t and had zero faith in locking myself into the career due to job security and not great pay.
As much as people hate financial advising, its extremely lucrative, not capital intensive, and is recurring revenue. There are tons of people retiring right now. Most do not have financial literacy and do not care to learn.
Fisher is a well oiled machine from my understanding. They have sales people and advisors. Very separated. They pour tens of millions into leads and commercials to drive warm interested leads. I have heard 7 figures is very very possible after a few years. Only con is micro management, cut throat culture, and you do not own the book to sell. The pros are warm leads and no cold calls, great product (They are the #1 RIA I believe and generate great returns), and tax free states.
Just be prepared that it is a pure pure sales job, which ironically is what an IB MD becomes anyway I guess. Only difference is at a place like Fisher it is more efficient than an IB and they pay well with a good WLB off the rip.
Screw prestige. I would rather make the same money working less hours. Your average person doesnt even know the difference between an investment banker and investment advisor.
Are your sources people who have done the job? Thanks for your thoughts.
It was from account executives, who are a step below the VP of sales position. They set the meetings for the VPs.
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