Ameriprise? Is it really that bad?
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[quote=Ace Planner]
I was in the office that closed in P-cola. They said go to another employee office, pay franchise fees of around 11k per year, plus get an office, or quit. I quit (them). Most of my GDC was from insurance, and while I had a few 100k AUM, I didn't like the client that formed the bulk of it. So it really wasn't a problem.
Ace
[/quote]
Boy isn't that the truth. If most of your book is in a single client you want to get rid of that SOB as soon as you can.
[quote=Big Easy Flood]
The answer is they hire almost anybody who is willling to take a chance on themselves, and a lot of who they hire are actually little more than whining bitchoids.
There's not much wrong with Ameriprise except the limited product line and the fact that the little boys and girls are treated as though they were recruits in a boot camp.
None of those who complain day in and day out have a clue to the truth revealed in the statement, "Respect is earned not given."
[/quote]
Don't you see this is the problem? If you use your own people how would you treat your clients? They bring in 100 people 3 stick the rest fail. How desparate were those 97 right before they failed and how many VULs did they sell to clients who didn't need them.
We turn down people EVERY day. We are very selective in our hiring practice. We only choose people who have a great chance at success. Then they are PAID while they study and given tons of training and back up to help them succeed.
At RayJay clients are number 1 and financial advisors are treated as clients.
[quote=maybeeeeeeee][quote=Big Easy Flood]
The answer is they hire almost anybody who is willling to take a chance on themselves, and a lot of who they hire are actually little more than whining bitchoids.
There's not much wrong with Ameriprise except the limited product line and the fact that the little boys and girls are treated as though they were recruits in a boot camp.
None of those who complain day in and day out have a clue to the truth revealed in the statement, "Respect is earned not given."
[/quote]
Don't you see this is the problem? If you use your own people how would you treat your clients? They bring in 100 people 3 stick the rest fail. How desparate were those 97 right before they failed and how many VULs did they sell to clients who didn't need them.
We turn down people EVERY day. We are very selective in our hiring practice. We only choose people who have a great chance at success. Then they are PAID while they study and given tons of training and back up to help them succeed.
At RayJay clients are number 1 and financial advisors are treated as clients.
[/quote]
Do you work in the Human Resources department in St. Petersburg? If not what makes you qualified to speak on the topic of how many people are turned down?
Have you ever been trained with another firm? If not what makes you qualified to know how the Raymond James training compares to the training received at other firms?
Do you work in the Human Resources department in St. Petersburg? If not what makes you qualified to speak on the topic of how many people are turned down?
Have you ever been trained with another firm? If not what makes you qualified to know how the Raymond James training compares to the training received at other firms?
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[quote=babbling looney]
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[/quote]
Ain't that the truth. It's a nice firm to work for but it's still an also ran in the grand scheme of things.
[quote=babbling looney]
training compares to the training received at other firms?
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[/quote]
There is, however, a subtle difference...Maybeeeeeee doesn't need to be constantly reminded by RayJay how lucky he is to be with the firm.
[quote=Starka][quote=babbling looney]
training compares to the training received at other firms?
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[/quote]
There is, however, a subtle difference...Maybeeeeeee doesn't need to be constantly reminded by RayJay how lucky he is to be with the firm.
[/quote]
If you have only eaten at Sizzler you will swear that there is no better meal than a Sizzler T-bone and the salad bar.
How many broker/dealers has Maybeeeee worked for?
[quote=Big Easy Flood][quote=Starka][quote=babbling looney]
training compares to the training received at other firms?
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[/quote]
There is, however, a subtle difference...Maybeeeeeee doesn't need to be constantly reminded by RayJay how lucky he is to be with the firm.
[/quote]
If you have only eaten at Sizzler you will swear that there is no better meal than a Sizzler T-bone and the salad bar.
How many broker/dealers has Maybeeeee worked for?
[/quote]
Who cares? The statement made has nothing to do with how many firms Maybeeeee has worked for.
[quote=Big Easy Flood]
That somebody started the amerisux website is not unexpected, but it was not started by a guy who would have been able to make it anywhere else.
[/quote]
Just for the record, amexsux was started by an unhappy client. As unhappy as some of the AMP advisors are, their clients are far unhappier with what was done to them.
[quote=William][quote=Big Easy Flood]
That somebody started the amerisux website is not unexpected, but it was not started by a guy who would have been able to make it anywhere else.
[/quote]
Just for the record, amexsux was started by an unhappy client. As unhappy as some of the AMP advisors are, their clients are far unhappier with what was done to them.
[/quote]
What was done to them?
Is owning a second tier mutual fund with positive results 200 basis points below last year's top fund akin to have your account churned in the OEX?
Is a salesperson who suggests a VUL when it's not really appropriate as bad as a guy who convinces you that the way to retire early is to buy sugar futures?
The world is a big bad place, and abuses run wild out there.
Whining that firms that generate close to 100% of their revenues from selling mutual funds and life insurance are somehow manhandling their customers reveals an awe inspiring detatchment from reality.
If the joker who started amerisux thinks they're bad can you imagine how distraught he would be if he had listened to a voice that said,
"Hi Mr. Jones, I'm Freddy Phuqemfaster and I am a stock broker with the Wall Street investment banking firm A.S. Goldman, you probably read that wonderful article about us in the Journal last week.
I am not selling anthing, but every so often opportunities come along that are so good that I buy them myself.
I was wondering if I might call you the next time such a situation exists because, according to law, I have to explain the opportunity to 100 clients and prospects before I am allowed to buy it myself?"
Brokers, and their clients, need to get a grip on what is possible in managing money and just because you don't see your mutual fund on the Forbes top ten list does not mean you made a mistake. Either as the honest salesman who did his best to recommend someting appropriate, or as the customer who listened to that honest broker.
Now, if you're out there being told by somebody, "Look, there are people with money who are going to be screwed by a broker sooner or later, it might as well be you who gets there first....."
[quote=babbling looney]
Do you work in the Human Resources department in St. Petersburg? If not what makes you qualified to speak on the topic of how many people are turned down?
Have you ever been trained with another firm? If not what makes you qualified to know how the Raymond James training compares to the training received at other firms?
While Maybeeeeee seems like a very nice person, it is obvious from previous postings that Ray James has its own brand of kool aid.
[/quote]true dat homey!
[quote=Big Easy Flood]
What was done to them?
Is owning a second tier mutual fund with positive results 200 basis points below last year's top fund akin to have your account churned in the OEX?
Is a salesperson who suggests a VUL when it's not really appropriate as bad as a guy who convinces you that the way to retire early is to buy sugar futures?
The world is a big bad place, and abuses run wild out there.
Whining that firms that generate close to 100% of their revenues from selling mutual funds and life insurance are somehow manhandling their customers reveals an awe inspiring detatchment from reality.
If the joker who started amerisux thinks they're bad can you imagine how distraught he would be if he had listened to a voice that said,
"Hi Mr. Jones, I'm Freddy Phuqemfaster and I am a stock broker with the Wall Street investment banking firm A.S. Goldman, you probably read that wonderful article about us in the Journal last week.
I am not selling anthing, but every so often opportunities come along that are so good that I buy them myself.
I was wondering if I might call you the next time such a situation exists because, according to law, I have to explain the opportunity to 100 clients and prospects before I am allowed to buy it myself?"
Brokers, and their clients, need to get a grip on what is possible in managing money and just because you don't see your mutual fund on the Forbes top ten list does not mean you made a mistake. Either as the honest salesman who did his best to recommend someting appropriate, or as the customer who listened to that honest broker.
Now, if you're out there being told by somebody, "Look, there are people with money who are going to be screwed by a broker sooner or later, it might as well be you who gets there first....."
[/quote]
Rationalize abuse however you like. I'm simply correcting your error.
But William you're the one who used the phrase, "Done to them" and I'm just asking what you see as having been done to somebody who has, or had, an account with AMP.
What do you see as the abuse?
[quote=Big Easy Flood]
But William you're the one who used the phrase, "Done to them" and I'm just asking what you see as having been done to somebody who has, or had, an account with AMP.
What do you see as the abuse?
[/quote]
'salesperson who suggests a VUL when it's not really appropriate' is one example. NASD's Broker Check can provide many other examples.
Guilty as charged. Yes, I love my company. I would NOT nor could NOT work at a company that was not doing the best for the client.
I do not want a PENNY of revenue if I have had to cheat someone to get it. I have to look myself in the mirror and love the person I am.
My company lets me be the best, and do the best for my clients. I have had MANY clients come over from Ameriprise. Their portfolios are pitiful. Amex mutual funds, VULs and any other high priced low value thing that was pushed at them.
Tell me, do you get Ray Jay customers coming over to you (No)
Do Ray Jay advisor switch to Ameriprise (Heck no)
Go ahead and lie to yourself if you have to, but my momma did not raise any fools.
[quote=maybeeeeeeee]
Guilty as charged. Yes, I love my company. I would NOT nor could NOT work at a company that was not doing the best for the client.
[/quote]
Do you suppose you will ever find yourself attempting to talk a client into buying what you can sell them instead of what they say they want?
There is nothing inherently wrong with selling from a narrow product line. No firm has selling agreements with every fund, every insurance company, every tax shelter and so forth.
It is the height of arrogance to sneer that somebody who is busting their hump at First Investors is doing his client a disservice by selling them a First Investor's fund.
Hell, it's also arrogant to sneer that a Primerica rep who is out there busting their hump is doing his client a disservice by selling them a ghastly thing filled with front end charges and the whole nine yards.
The fact is that they found that person and that person needed help at that time. That is no more, nor no less, than anybody else in this business is trying to do.
It shows a remarkable lack of understanding about this industry to suggest that a place like AMP is unethical or any other adjective that suggests it.
[quote=Big Easy Flood]
It shows a remarkable lack of understanding about this industry to suggest that a place like AMP is unethical or any other adjective that suggests it.
[/quote]
It shows a remarkable lack of understanding about ethics to suggest that a firm with 34 regulatory actions against it is ethical.
ethical: Being in accordance with the accepted principles of right and wrong that govern the conduct of a profession.
unethical: not conforming to approved standards of social or professional behavior; "unethical business practices"
Or perhaps you are saying that you think that ethics does not apply in this industry? I can't help you with that one.
[quote=William]
It shows a remarkable lack of understanding about ethics to suggest that a firm with 34 regulatory actions against it is ethical.
[/quote]
Thirty four is a lot when there are thousands of reps?
I know individuals who have ten or more arbitration claims going simulataneously.
[quote=Big Easy Flood]
Thirty four is a lot when there are thousands of reps?
I know individuals who have ten or more arbitration claims going simulataneously.
[/quote]
Yes, 34 is a lot. Go read them. Then read this:
http://advisor.morningstar.com/articles/doc.asp?docId=4278
Interesting to know that you will dismiss unethical behavior if you think someone else has done it more or worse. Sorry, but that's not the way ethics works.
Big Easy Flood
You are exactly where you belong.
A loser with a losing company. You could never work at a place like Raymond James. We wouldn't take you.
You actually believe your own lies. I am not surprised you can sell lies.
Your career in this industry will be short lived. You better pray your customers never talk to a real financial advisor.