Freedom 55 Financial

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Freedom 55 Financial Reviews

Updated Jul 22, 2014

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3.3 32 reviews

32 Employee Reviews
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    FSA

    Financial Security Advisor (Current Employee) Toronto, ON (Canada)

    ProsPersonal growth. Work-life balance. Bonus structure

    Cons100% commissioned sales position, which can result in stressful months when business is slow. Advisors are required to pay for office space even if you prefer to work from home.

    Advice to Senior ManagementBase+Commission

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    BE YOUR OWN BOSS

    Financial Security Advisor (Current Employee) Mississauga, ON (Canada)

    ProsIf you are looking to becoming a financial advisor, they offer a great training program, as well as paid. They also pay for your licensing.

    Consi find that once you get hired and pass the training, the support lacks. This job is 100% commission, and you are expected to find your own clients. The office fees they charge you are astronomical. You pay rough 300-500 in fees per month. If you are not putting in business, you will end up going in the hole every month.

    Advice to Senior Managementkeep track of your advisor, and support them even after the training is over.

    No, I would not recommend this company to a friend

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    The Successful are rewarded handsomely, the unsuccessful are left in the cold.

    Financial Security Advisor (Former Employee) Montreal, QC (Canada)

    ProsPaid training (excellent), help obtaining insurance/investment licenses. Great products in house and you have the ability to attach to a broker to access other products. High commission rates if you remain consistent.

    Cons100% commissions. This type of position is not made for everyone. If you don't have a strong network of qualified prospects before beginning this job, you will have a hard time. Getting sales/process support is often difficult unless you are a high producer. If you are a low producer, they don't do much to help. Very low "employee" retention.

    Advice to Senior ManagementManagement seems to be very "old school" and are unaware of the new challenges that advisers face in today's world. Also, they should be more knowledgeable about their products and planning.

    No, I would not recommend this company to a friend

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    • Culture & Values
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    A great company for anyone considering a career as a financial advisor

    Financial Security Advisor (Former Employee) Barrie, ON (Canada)

    ProsGreat product shelf for all aspects of financial planning. Having the ability to sell London Life insurance products exclusively was an advantage when potential clients are looking at different options. Strong bonus structure, especially for new advisors.

    ConsThis is a 100% commissioned sales position, which can result in stressful months when business is slow. Advisors are required to pay for office space even if you prefer to work from home and will not allow you to be a "detached" advisor unless you're more than 50km away from the office.

    Advice to Senior ManagementManagement was very helpful and great support from product specialists.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    It's a great company if you are an expert in selling tangible products as insurance and retirement/investment

    Financial Security Advisor (Former Employee) Vancouver, BC (Canada)

    ProsWork flexible hours, have your own schedule

    ConsMonthly due payments up to $500, self-employed no EI, which makes it worse.

    Advice to Senior ManagementKeeping the cost lower could be better for growth

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Excellent team support to help you grow

    Financial Advisor (Current Employee) Toronto, ON (Canada)

    ProsExcellent well rounded experience professionals to help

    ConsCommission based pay, could be good or bad

    Advice to Senior ManagementNothing

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    A place where your career is only limited by your imagination and work ethic.

    Management (Current Employee) Toronto, ON (Canada)

    ProsA stable & progressive company with great training, support and a history of taking care of Canadians.

    ConsLike any large corporation sometimes the small details can be forgotten. You have to stay focused on your objective and make sure to stay on track.

    Advice to Senior ManagementDon't forget your roots and support from the lower levels up.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    It's a tough sales gig, but those that succeed enjoy above average incomes and a work-life balance that you can design

    Anonymous Employee (Current Employee)

    ProsGreat comprehensive training, and continuing education is reimbursed upon completion (CFP, CHS, CLU)

    Cons100% commission, not uncommon to have a pay-period with a big fat 0

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    Working to sell the company's products while being paid on commissions

    Financial Security Advisor (Former Employee) Montreal, QC (Canada)

    ProsFlexible working schedule. If you become management, you earn an interesting salary and can still continue selling to make commissions.

    ConsYou are hired to basically sell as much as you can to as many people as you know. I was not given a portfolio to work with and had to build it all on my own. Little bit of revenue given at the start to help +- 5gs, rest is all commissions. 600$ per month of costs: computer, technology, office, etc. If you don't sell you don't get paid. Very high turnover rate. Feels like you are being exploited.

    Advice to Senior ManagementPay people.

    No, I would not recommend this company to a friend

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    somewhat unsatisfied

    Financial Advisor Trainee (Former Employee) Peterborough, ON (Canada)

    Prosthe benefit package was great

    ConsDid not care for cold calling

    No, I would not recommend this company to a friend

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