Bank FInancial advisor

1 reply [Last post]
Anthony_c's picture
Joined: 2012-09-19

Hey folks, I worked for a bank as a licensed banker for 3.5 years. I recently was promoted to a financial advisor and cover 3 branches. I've been trying to contact the current book of business but most of those leads are dry due to the previous advisor sold a TON of fixed annuities leaving not a whole lot of money on the table and/or having the opportunity to add money to them. Anyone else a branch advisor that works with tellers, branch managers and personal bankers? How do you get them on board with you??

PassiveInvesting's picture
Joined: 2012-08-22

Hi Anthony, I am a bank FA as well, only been in the business about 2 years though. You need to figure out which bankers would be good for you and which aren't worth your time. You only need 1-2 raving lunatics per branch. It helps if they get incentives for referrals. Take the bankers to lunch once a month and tell your boss to pay for it. Our bankers get $25 for each referral (whether it turns into business or not). You can only give the bankers so much legally. Have the tellers watch out for big checks coming in or big ones going out to other brokerages, and have them give those customers your card and ask them what time they can sit down with you. Once the bankers/managers ask you about their own personal investments then you know they trust you. It might be more beneficial for you to get in tight with a commercial banker or loan officer.

Treat your bankers well and show them you are a hard worker and a smart guy and they will take care of you. Don't come to work every day at 9 and leave at 3. Those annuities will come out of surrender someday and if you can build a good book in the mean time things will work out very well for you. I think the bank is a great place to be for new advisors.

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links
Practice Management Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×