Virginia Asset Management

  www.vamllc.com
  www.vamllc.com

Virginia Asset Management Reviews

4 Reviews
3.4
4 Reviews

Recommend to a friend
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Michael R. White, CLU, ChFC
0 Ratings

Employee Reviews

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  1. 3 people found this helpful  

    Great internship, fully educate yourself before committing to the career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Finance Intern in Midlothian, VA
    Former Employee - Finance Intern in Midlothian, VA

    I worked at Virginia Asset Management as an intern (less than an year)

    Pros

    Training is extensive and educational, you will learn a lot about investments, retirement planning, and insurance. Everyone there is great, very friendly and supportive. Even as an intern I could walk into the CEO's office and have an hour long meeting. Office doors are open 95% of the day. Succeeding in this career gives you a tremendously independent life, work-life balance of your choice, and great residual and annual income.

    Cons

    The career is a commission based pay - the compensation for your first couple of years is supplemented by activity driven stipends. Turn-over is high in this industry for a good reason, it is VERY DIFFICULT to succeed. Do not go into it if you are unwilling to spend a couple years being a die-hard client prospector. During a 10 week internship I saw 5 people come in and go out while I was there. Only one person came in when I did as a full time employee and was still there when I left.

    Advice to ManagementAdvice

    Work with your broker-dealer to get more attractive compensation packages for the Advisor Development Program. Morgan-Stanley, Merrill Lynch, ING Financial all have you beat as far as base pay which will make it difficult to attract good talent.

    Recommends
    Neutral Outlook
  2. 1 person found this helpful  

    Good for established financial advisers going independent, bad for new/trainee advisors

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Financial Advisor in Midlothian, VA
    Current Employee - Financial Advisor in Midlothian, VA

    I have been working at Virginia Asset Management

    Pros

    This is a good place to be ONLY if you have an established practice. The health insurance department really has their stuff together and is by far the best arm of this firm.

    Cons

    Their mentoring program is not defined so be careful in pairing with a senior adviser. Also they do a poor job in managing your expectations as a financial adviser regarding cash flow planning for your own practice. Their culture is very much about cold calling....you have been warned.

    Advice to ManagementAdvice

    Get some systems in place for the training program and stop being so nice. You ultimately hurt your new advisers when you let them slide.

    Doesn't Recommend
  3. 1 person found this helpful  

    Nice to be part of a local firm when so many major companies are laying people off

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

    I have been working at Virginia Asset Management

    Pros

    Great resources to help new advisors get started - they have hired new managers and staff support. Lots of people available now to help advisors.

    Cons

    Definitely have to work hard in the beginning, but it's totatlly worth it. And even though you have to work hard, you still don't have to work as many hours as investment bankers and stock brokers - you can still have a life.

    Advice to ManagementAdvice

    Would be nice to sponser more seminars and workshops for public to come to office.

    Recommends
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  5. 1 person found this helpful  

    A place where you can possibly make a career, but be prepare to be overworked and underpaid for 3-5 years

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

    I worked at Virginia Asset Management

    Pros

    The ability to sell a wide variety of products to both individuals and groups. Ability to use a number of carriers. Good reputation.

    Cons

    Very difficult to generate leads other than cold calling or calling on friends and family. If you don’t sell a specified amount you don’t get paid for the quarter. Turnover around 80%.

    Advice to ManagementAdvice

    Try to find a way to reduce turnover. Spend less time hiring/ more time training. Be up front on sales expectations.

    Doesn't Recommend

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