DMG Securities Interview Questions | Glassdoor

DMG Securities Interview Questions

7 Interview Reviews

Experience

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Getting an Interview
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  1.  

    Registered Representative Interview

    Anonymous Employee in Great Falls, VA
    Accepted Offer
    Negative Experience
    Easy Interview

    Application

    I applied through college or university. The process took 3 weeks. I interviewed at DMG Securities (Great Falls, VA).

    Interview

    The interview process is fairly lengthy, but no more so than any other firm. They maintain a manner of professionalism during the opening interviews, but once you get into the deeper interviews they expect you to read certain sales books and write summaries of the books to prove that you have read them. They also ask you to provide lists of the family/friends that you intend to prospect and recruit once they hire you. Comes across as very pyramid scheme-like.

    Interview Questions

    • Why do you want to be a stockbroker?   1 Answer

    Negotiation

    Non-existant


  2.  

    Stock Broker Interview

    Anonymous Employee
    Accepted Offer

    Interview

    I was interviewed numerous times at DMG Securities, Inc. I was explained the opportunities with the company. I thought having the added advantage of being with an independent investment firm with private independent research would be an advantage to my potential growth in the industry. The interview process was very detailed and I was explained the pros and cons of potentially starting a career not only with DMG Securities but with the industry.

    Interview Questions

    • There were no difficult or unexpected questions. I was very well prepared for the interview by the registered principals of the firm   Answer Question
  3. Helpful (2)  

    Stock Broker Interview

    Anonymous Interview Candidate
    No Offer

    Interview

    I found the application for a job of a Stock Broker online and applied. I received a call a couple days later and set up an interview. I did some research on the company in preparation for the interview and decided to cancel it.


  4. Helpful (5)  

    Account Executive Interview

    Anonymous Interview Candidate in Great Falls, VA
    Declined Offer
    Neutral Experience
    Average Interview

    Application

    I applied through a recruiter. The process took 4 weeks. I interviewed at DMG Securities (Great Falls, VA) in January 2012.

    Interview

    Initially called by an account executive that was going through the training for Dmg. Went in to interview with him and the hiring manager. Called back after a few days to come meet with the president of the company with other candidates. Called back to come in for an interview with two other executives at two different experience levels (3 years in, 6 years in.) Called back to come in for final interview with president and received offer afterwards with 2 days to respond to offer. Rejected offer for reasons described below.

    Interview Questions

    • What do you think about the commission structure?   Answer Question
    • Why do you want to work in this industry?   Answer Question
    • Which accounts can you bring to the firm/how many accounts? Who can you recruit to come to the firm?   Answer Question

    Reasons for Declining

    No salary. No benefits. Claim that they have a much higher commission percentage (40-55%) but this is similar to other firms depending the volume of sales. The office was very small, and did not seem to have many rooms. Also somewhat similar to a pyramid scheme...where executives receive a portion of the commissions of other executives which they had brought to the firm. They claim to have no legal problems, but owner was involved in pushing stocks onto clients and faced litigation while owning F.N. Wolf and Co (article from 1997 online.) They say that you are expected to gain 100 accounts in your first year or you will be cut. The structure is favored incredibly to the firms security and offers no protection to the broker. When researching some information online, I was also very skeptical when I found that they had 15 employees and a very small revenue stream (inconsistent with new executives acquiring 100 accounts a year.) Overall, there seems to be some shady business going on, beware.


  5.  

    Account Executive Interview

    Anonymous Employee in Great Falls, VA
    Accepted Offer
    Positive Experience
    Difficult Interview

    Application

    The process took 4+ weeks. I interviewed at DMG Securities (Great Falls, VA) in July 2010.

    Interview

    Found the company in Washington Post classifieds, called to apply for position. Had a brief phone interview, went for a face to face interview. Went for meeting with owner of the company who described the business and industry. Came back to get a book I had to read and prepare a summary of. Then had to develop a business plan for recruiting clients and new people to work there. Then called into another meeting with owner and received job offer.

    Interview Questions

    Negotiation

    Commission only, so no negotiation possible


  6.  

    Stock Broker Interview

    Anonymous Interview Candidate
    No Offer
    Neutral Experience
    Average Interview

    Application

    I applied through an employee referral. The process took a week. I interviewed at DMG Securities in March 2010.

    Interview

    The company is very small with a very basic office. However, they claim they are hiring as many people as possible because of their extra cash reserve. Initial communications with the company was fine, organization and planning of the interview was very organized, recruiter calls you on a very timely basis

    Interview Questions


  7. Helpful (1)  

    Research Interview

    Anonymous Interview Candidate
    Declined Offer
    Negative Experience
    Difficult Interview

    Application

    I applied through a recruiter. The process took 1 day. I interviewed at DMG Securities in January 2010.

    Interview

    Unpleasant, hostile and aggressive.

    Interviewer was conceptually wrong yet overbearingly opinionated.

    Interview Questions

    • What is the probability of a Chinese hard landing? I want a %. I don't care for your justification of your answer. I only want a number.   Answer Question

    Reasons for Declining

    Red flags from interview process.

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