Independent Capital Management Reviews | Glassdoor

Independent Capital Management Reviews

Updated February 3, 2017
56 reviews

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Full-time Part-time

4.1
Star Star Star Star Star
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Independent Capital Management President and CEO Drew Marloe
Drew Marloe
35 Ratings

56 Employee Reviews

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Pros
  • ICM has a great training program (in 6 reviews)

  • I joined ICM based on a personal referral earlier this year (in 15 reviews)

Cons
  • If you pass then you start calling up all your friends and family and hitting them up for (in 3 reviews)

  • Commission-based so you'd better have some money saved (in 3 reviews)

More Pros and Cons

  1. Helpful (5)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Independent Capital Management full-time

    Pros

    If you like to be rewarded for hard work then this is your place
    Great training
    Lots of opportunities to get bonuses
    Increased self growth and self discovery
    Positive environment
    Great for go-getters and entrepreneurs
    Unlimited income potential

    Cons

    Like any business, you have to work to reap the rewards but hey, the upside is worth it.


  2. "Work"

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

    Pros

    Easy work not hard to understand easy computer screens and documents easy to read. Great training and amazing teams !

    Cons

    Gets very boring after a while because your doing the same thing over and over again. You can fall asleep after and will want to get up multiple times


  3. Helpful (1)

    "Look elsewhere - Zero stars if possible"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Oceanside, CA
    Former Employee - Anonymous Employee in Oceanside, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Independent Capital Management full-time (Less than a year)

    Pros

    You can earn your Series 6, 63 and Life Insurance licenses with fairly good training. BUT...

    Cons

    100% Commission only income.
    "Managerial support" is hogwash
    Leads and referrals are what you bring yourself. When I was there, we tore pages out of the phone book and called every person listed, after we ran out of family and friends.

    Advice to Management

    Be up front about the income potential. Of course, if you did that, no one would fall for the wine and roses speech.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (3)

    "Long time ago employ ~ naive"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA
    Doesn't Recommend

    Pros

    Nothing ~ I quit in six weeks.

    Cons

    I was gullible joining this company. They said "clients will come easy". Had no idea it involved going through every friend and family neighbor. In hindsight, naive at the time. I recall the mock training exercises whether you were high risk or low risk they wanted you to sell high load Sun America mutual funds. I quit, it wasn't for me.


  6. Helpful (5)

    "ICM"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Marie is great. Extremely smart and makes it seem like a dream job. They take a lot of time and effort to train you and get you licensed.

    Cons

    It's not. You are required to have your own network and then cold call referrals from your friends and family. If and when you do make clients, you make no money, unless you're selling a ton of life insurance. Extremely high turnover rate.

    Advice to Management

    Don't make this job seem so great. It's incredibly difficult. There needs to be more leads and better pay.

    Independent Capital Management Response

    Oct 5, 2016 – CMO, VP

    We train new advisors to build a client base using the same methods implemented by successful advisors. We do not advocate or train our advisors to make cold calls, since this is a relationship ... More


  7. Helpful (3)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in South Pasadena, CA
    Current Employee - Financial Advisor in South Pasadena, CA
    Recommends
    Positive Outlook

    Pros

    I joined ICM based on a personal referral earlier this year. The interview process was swift and efficient, as was the onboarding. The Corporate and South Pasadena Office have provided me with all of the resources I need to do my job effectively. A very clear expectation was set from day 1 of what my job responsibilities would be, along with the explanation of what benefits were available.

    Cons

    None. The ICM team has equipped me with all the necessary resources to perform at an optimal level.


  8. Helpful (2)

    "A Good Launchpad Independent Advisors"

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

    Pros

    For financial advisors with a strong independent streak, ICM is a good place to be. The focus is on doing what's best for each client, not pushing any particular product line. Payout ratios are very competitive. Branch leaders are sincerely invested in the success of advisors who work with them.

    Cons

    Independence comes with a price. The company does not provide some essential tools, such as planning software, advertising budgets, etc. If you want these, you pay for them out of pocket.

    Advice to Management

    I'd recommend investing more in your advisors. Something as simple as implementing a common planning software platform would make junior advisors much more successful as they build their practices because they'd be more confident in their recommendations. It would also help to ensure a company-wide quality standard.

    Independent Capital Management Response

    Aug 16, 2016 – President

    The company does have coop advertising for all employees and most of our Financial Planners have access to our software through our Wealth Management Platform.


  9. Helpful (1)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in South Pasadena, CA
    Current Employee - Financial Advisor in South Pasadena, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Independent Capital Management full-time

    Pros

    -Strong training and preparation all the tools needed are taught
    -Manager is very knowledgeable and supportive and makes himself available
    -Great environment, energetic

    Cons

    -Long hours, but it is recommended for success


  10. Helpful (1)

    "A year spent working full time"

    Star Star Star Star Star
    Former Employee - Financial Advisor in Anaheim, CA
    Former Employee - Financial Advisor in Anaheim, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Independent Capital Management full-time (More than a year)

    Pros

    Great managers that help you grow your business.

    Cons

    Not enough outside vendors come in to present new ideas

    Advice to Management

    Give more attention to the reps that need help growing.

    Independent Capital Management Response

    Aug 16, 2016 – President

    Since we are an independent firm we usually have three or four top mutual fund, annuity, life insurance, or estate planning professionals speaking to our employees every month. We also have ... More


  11. Helpful (3)

    "Financial Services Specialist"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Great training and industry education

    Cons

    No leads, have to call on friends and family for leads

    Advice to Management

    Buy qualified leads for employees

    Independent Capital Management Response

    Aug 16, 2016 – President

    We work on a referral basis primarily and also have several lead generation sources. We also coop with employees that wish to purchase leads but most prefer working with referrals only.



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