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Helpful (1)

Advisor

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

I worked at SWS Group

Pros

SWS is more flexible for an experienced fianancial advisor than many of the larger financial services companies. The company is locally known and respected. A great place for a financial advisor to grow his business.

Cons

SWS group does not have a training program in place to foster career opporunities for college graduates. The company is more geared to providing opportunity for professionals later in their career.

Advice to Management

The comapny could grow by expanding the banking division. A training program would also allow the company to grow and have a younger feel.

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  1. SWS Financial Services

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at SWS Group full-time (More than 5 years)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Good support for brokers and good payouts

    Cons

    outdated technology and not able to charge for financial planning


  2. SWS Financial Services - Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Independent Financial Advisor in Dallas, TX
    Current Employee - Independent Financial Advisor in Dallas, TX

    I have been working at SWS Group full-time (More than 5 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Friendly client support staff, allowed own DBA name, high payout. Good product mix. Overall advisor maintenance fees are low.

    Cons

    Technology is out of the 1990's - Windows only, no mobile apps. No social media of any kind is allowed - no FB, Twitter, LinkedIn, blogs... nothing. Only one website company is allowed.
    They still require physical files in the advisor offices, which is far riskier than archiving them electronically.

    Although the people are nice and friendly, the service times for a client need have slowed down dramatically in the past year.

    Almost neurotic compliance people - they are afraid of their own shadows and almost nothing gets approved. Then there's the next problem: they have no pre-approved marketing pieces other than image pieces on how great a firm they are - I have to create my own pieces to explain their product line, and then have to beg my way through compliance each time I want to use something. If I want to re-use it, I get to go through the whole approval process all over again. Traditional marketing practices like cold-calling is strongly discouraged, but they don't permit any new methods to market either. When I asked how an advisor is supposed to grow a business with them, I was told to network.

    They did have decent client fee schedules until last year,and then went crazy hiking them. they even had to pull back on a few that were overzealous.

    Advice to Management

    Might be a moot point now, as the company is currently being taken over by Hilltop Holdings, but here you go:

    1) JOIN THE 21st CENTURY. Update your software. Ditch the paper files and the scan/email/fax routine. I should be able to access client info and place a trade from a mobile device by now. Social media is how the world interacts now. You tie both an advisor's hands behind their back by not allowing us to engage the world where it goes, almost exclusively, for information.

    2) Your independent advisors are ADULTS. They chose to take on the risk of being in business for themselves. Stop treating them like children. Loosen the compliance stranglehold a bit. Let us market already.

    3) Either commit to the independent advisor model or get out. We are not employees. We want to build our own business and differentiate ourselves as best we can to serve our particular client bases. SWS Financial makes it extraordinarily hard to do so if you are tech-savvy or have clients more than a half hour from your office.


There are newer employer reviews for SWS Group
There are newer employer reviews for SWS Group

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