E*TRADE Financial - Unlimited comp for sales on the FC side | Glassdoor
There are newer employer reviews for E*TRADE Financial
There are newer employer reviews for E*TRADE Financial

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Helpful (2)

"Unlimited comp for sales on the FC side"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Financial Consultant
Current Employee - Financial Consultant
Recommends
Positive Outlook
No opinion of CEO

I have been working at E*TRADE Financial full-time (More than 3 years)

Pros

Unlimited comp for sales on the FC side I love it it makes me very motivated to work hard.
I am happy my manager gives me the space to sell to the right clients. The clients that want and need advice. Many need advice but just do not want it so you need to sift thru to find someone that "gets" that putting all their money in a 12 cent gold mining stock will most likely not help them reach retirement with a good size nest egg.
Given 200mm book to work with huge opportunity but can hurt you.
A get the job done culture!

Cons

*Operations and TOA are way understaffed should have 30-50 people full time. E*TRADE could bring in an additional 10-25% or more in assets and retention if they refined this area in particular.
* There should be a positive small revenue share on your practice/book that exceeds threshold or
* Threshold feels more like a "steal take"
*UMA needs a bond manager yesterday.

Advice to Management

Look at how other discounters execute operations and TOA then copy what they do well.
I am not sure is Paul is wanting to grow us or sell us? I prefer grow there is an enormous opportunity to grab more market share from TD and Schwab.

Other Employee Reviews for E*TRADE Financial

  1. Helpful (3)

    "Stuck behind the pack"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Consultant
    Current Employee - Financial Consultant
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at E*TRADE Financial full-time (More than 3 years)

    Pros

    Work culture is generally pretty laid back - very dependant on your branch manager.
    There is a lot of "low hanging fruit" b/c ETRADE customers are not accustomed to having a FC, if you position yourself properly you can gain a lot of credibility with clients.

    Cons

    Equivalent to horse and buggy in terms of investment and sales capability - lack fixed income options in UMA, no to hardly any I shares, not able to speak to ETF's to client's. Your ability to talk to clients is limited to as if you have no licenses or experience with investments. Company does not value experience, accredations or investment knowledge of FC's.
    While the comp plan is supposedly "open ended", your threshold is subject to where your branch is located, with better locations having to produce WAY more. Unfortunately they don't do the same distinguishment with base salary, so your base is the same no matter what location you are in... still can't figure this out, but it makes meeting your day to day bills very difficult if you live in a good location. Also you are paid out a full 2 months after the end of the quarter making cash flow managment very difficult. If you miss a bonus you won't be paid for a full 6 months, base is not enough to support you through this time.
    No addtional benefits to speak of - 2.5% match on 401(k) employee contribution of 5%, NO stock purchase plan (despite being one of the largest ESPP providers), very little to no reimbursement of educational or accrediations, no reason to stay long term leading to high levels of attrition.

    Advice to Management

    Senior Management that was all recently replaced - what are you doing? Communicate with us, give us some hope, inspire us, right now it's so silent it makes us wonder what in the world is going on.


  2. "Young and dynamic company with endless opportunities for the brave and ambitious"

    StarStarStarStarStar
    Current Employee - Senior Product Manager in North Atlanta, GA
    Current Employee - Senior Product Manager in North Atlanta, GA

    I have been working at E*TRADE Financial full-time (More than 5 years)

    Pros

    Many opportunites to grow whithin. One can start at the bottom and with hard work and the right attitude can easily move up to more rewarding positions.

    Cons

    Compensation could be better. This industry requires talented people to innovate and stay ahead of the curve. Pay seems lower compared to other companies

    Advice to Management

    Keep the culture as it is and design fairer compensation package throughout the organization. Identify key personnel that keeps the business running and the compensate them based on merit.

There are newer employer reviews for E*TRADE Financial
There are newer employer reviews for E*TRADE Financial

See Most Recent

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