Private Wealth Management: Compensation and Culture

We're missing important information. So frequently these offers go nowhere. You get used & abused by the team to do the grunt work, etc. Not saying that is the case, but in order for this offer to be anything other than a $50K a year job that you'll most likely get fired from due to lack of production within 2 years (which is what it is at the wirehouse training programs), the team needs to be giving you a cut of the revenue.

So besides offering you license sponsorship and "mentoring," are they offering you a cut of the revenue as soon as you enter production? If no, specifically what are they offering?

Next question, what are you offering them (i.e. why do they want you on their team?).

Last piece of advice...get everything, everything in writing. Not a generic "we'll mentor you" or "we'll help you meet the hurdles." If they are giving you 5% of production as a team member, put it in writing.

Also find out specifically how you advance on the team (grunt, junior partner, senior partner, etc.). And get that in writing too.