49 Financial
Has anyone heard of this place or worked here? Would love to hear about the day to day and your experience. Considering a position there as a summer analyst.
Mar 17, 2023Mar 17, 2023
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Comments (3)
I had some friends work for them in Austin a couple years back when I think they were just starting out. I believe they are a group that spun out of Equitable Advisors but can't confirm. It's a basic financial advisor shop. Probably a good place to summer intern if you are interested in wealth management and want to help people with asset allocating and financial planning (tax, trust & estate, insurance, philanthropy etc.). As far as working there full time, both the people I knew (worked as advisors out of college) flamed out since it is an eat what you kill role i.e. bring in assets and build your own book. Of course, if you can bring in assets you can make a great living in this career. However, if you don't want to prospect/cold call/email people I would look at RIA or big bank wealth management departments for full time offers after you have this experience under your belt.
Not somewhere you want to work. Your role is to 1. make lists of all friends, family, relatives, and acquaintances and 2. sell shitty, low-return products to them. There is also no salary, just a small commission, so it's unlikely you'd make much if anything.
If you actually want to be a financial advisor, aim for private wealth management or be a FA at a more legit place (Merrill etc) that puts you on an existing book of business instead of hustling your friends and family.
Very similar to Northwestern Mutual or AXA - just not a good experience or something useful for the resume. Keep looking.
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