Ameriprise – “Franchise Advisors are Independent Contractors”
Pros
High earnings potential. Planning process provides strong relationships with clients.
Cons
Primary compensation consideration is "production" (new money). Little or no compensation paid for building and maintaining strong client relationships. Staff does most of the work and generally does not receive a fair share of revenues from employing Advisor.
Advice to Senior Management
P2 Advisors need more support in Practice Management skills. New field management structure provides little support.