Trilogy Financial Services

  www.trilogyfs.com
  www.trilogyfs.com

Trilogy Financial Services Reviews

35 Reviews
3.5
35 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Trilogy Financial Services CEO, Founder and Owner Jeff Motske
Jeff Motske
22 Ratings

4 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 3 people found this helpful  

    Don't Bother

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Executive
    Former Employee - Financial Executive

    I worked at Trilogy Financial Services full-time (more than an year)

    Pros

    The culture of the company is very close-knit and comfortable, and the company does provide the tools for a basic start to a financial advisor career. The training program is good for the fundamentals of the industry and is relevant to the business model the company pushes.

    Cons

    However, despite claims of "independence", the selection of funds is really limited to the basic fund families as well as a group of basic products. During the interview process and subsequent training, there is a lack of transparency when it comes to exactly how much money one will make. If the connections aren't there or the networking doesn't yield desired contacts, there is very little room for advancement, regardless of the business one does. The business model begins with the premise of using personal contacts to start building clientele, but aside from that first piece, there is very little help offered besides the occasional event or piece of advice for direction.

    Advice to ManagementAdvice

    Be a bit more transparent when it comes to actual income earned, especially in terms of E&O insurance and how it impacts an advisor. Be more helpful to new financial advisors, especially ones who lack a network to build their clientele.

    Doesn't Recommend
    Approves of CEO
  2. 7 people found this helpful  

    A great job ... if you're either connected or stick with it for years"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Executive in San Diego, CA
    Current Employee - Financial Executive in San Diego, CA

    I have been working at Trilogy Financial Services full-time (more than an year)

    Pros

    They paid for FINRA, and Insurance licenses. There aren't hundreds of people in the office, so you get to know your manager and other employee really well. It's a good stepping stool job, to get into a better job at a better firm within the financial services industry.

    Cons

    Some of the small print about the position is disclosed in the hiring process ... some information won't be divulged unless you know to ask them, or until several weeks after officially being "on the job." They expect you to pay your bonded agent fee (about $350) a month - and Trilogy itself is not a Broker/Dealer ... they contract National Planning Corporation as their Broker/Dealer, so all your securities commissions go through a ridiculous third-party process. The end result is it could be months before you see your commissions, and it's very common for them not to be paid when they're supposed to be (they tell you it's up to you to make sure you're paid on time) - what happens is NPC holds on to commissions so your bonded agent fees eat away at what they're supposed to pay you, so you end up getting significantly less (sometime none) of your commission. Moreover, the commissions are ridiculously low for how much they expect you to do. You might see as little as 10% of the overall dealer concession - this gives little incentive to go out and bring in new money when Trilogy is getting $1,000 (for example), and you're getting a measly $80 or less on an overall concession.

    What they really want you to do, and they won't come out and tell you this until you've been there past your six month period, is they want you to be an insurance and annuity salesman. They'll expect you to get your 6 and 63 licenses, but I was highly discouraged from seeking my 7 and 65/66 licenses. They don't want you trading securities ... they want you to focus on insurance products. Once more, the training process was a joke ... a complete and utter joke. They have a two week training program you will do over a polycomm system (on the TV) where they try and get you to memorize scripts, and coach you on how to sell insurance to people who say they don't want it. During this entire time (pre-licensing, studying, and training) you are not being paid ... even though, like in my case, I was coming into the office for 8-10 hours a day for about two months before I ever saw a pay check (and a ridiculously small one at that).

    They're also not upfront about the fact you're expected to do at least 6-8 hours of mandatory cold calling every week (broken up equally on three days during the week). I was also rather unhappy with the fact they really pressure you to run down every family member, friend, and acquaintance you have they think might have money. I had to tell my managing partner flat out several dozen times I was not soliciting family members for business. This met with a very a negative reaction from both the branch manager and my managing partner. In the end they see it as a question of who you know ... if they think you know people they're willing to hire you because even if you don't "make it" they can just fold what friends and family you do bring in into their own book of business and still come out ahead. If you happen to make it, and can survive to the (realistically) 2-3 years (at the very least) it would take to build an adequate book of business to actually start making a quasi-decent salary, then they win too.

    They talk a lot about how they value their employees, but they treat you in the exact opposite fashion. I was told, in no uncertain terms, I was a expected to work anywhere from 60-80 hours a week, as well as on holidays, and had no paid sick or vacation days. In fact, if you try and take a personal day or vacation day you could find yourself in some hot water. There are also no benefits for the first six months, and once you do get benefits they are laughable at best. In general Trilogy Financial is about as cheap as it gets. They'll give you a bare bones work station with a phone (because they want you to make hours of cold calls every day), and every office has only three computers provided for employees (in a common area). And one of our computers in my office never worked. The computers were also about five years old, and utter pieces of crap. So, there were only two computers for about 20 people to share. And when you needed to prepare paperwork for a client meeting, or new business, you could bet you'd have to wait hours before you could get on a computer. The only way I could get things done was because I brought in my own computer.

    Advice to ManagementAdvice

    Make your actions meet your words - don't be so cheap, and treat your employees the way you'd want to be treated. Be upfront about ALL the aspects of the job. And pay your employees an actual livable wage.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 3 people found this helpful  

    Pro/Con Analysis of Trilogy Financial Services, Inc.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Advisor in West Covina, CA
    Former Employee - Financial Advisor in West Covina, CA

    I worked at Trilogy Financial Services

    Pros

    Ability to create your own schedule

    Cons

    You have to pay for your own Errors and Omission Insurance.
    Benefits are substandard
    Commission structure is extremely low
    Stipend is not a livable wage.

    Advice to ManagementAdvice

    Encourage development of alternative methods of prospecting, creating a captive audience and strengthen the corporate culture.

    Doesn't Recommend
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 4 people found this helpful  

    Beware, all that glitters is not gold

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Executive
    Former Employee - Financial Executive

    I worked at Trilogy Financial Services

    Pros

    Training is good
    Concept of getting names from current clients is not easy, but management wants you to think it is.

    Cons

    Did not disclose during interview that benefits start after working for 6 months.
    If you do not hit company goals quickly, you will be released.
    Contact is 100% for the company only.

    Advice to ManagementAdvice

    Company needs there own no fee mutual funds.

    Doesn't Recommend

Trilogy Financial Services Photos

Work at Trilogy Financial Services? Share Your Experiences

Trilogy Financial Services

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.