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      Legacy FA

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      Legacy FA reviews

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      3.1

      42% would recommend to a friend

      (77 total reviews)
      avatar

      Alvin Nathan

      49% approve of CEO

      42% positive business outlook

      Ratings by category

      3.5

      Work/Life balance

      3.3

      Diversity & inclusion

      3.1

      Career opportunities

      2.9

      Culture & values

      2.9

      Senior management

      2.8

      Compensation and benefits

      Legacy FA has an employee rating of 3.1 out of 5 stars, based on 77 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Legacy FA employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

      Reviews by job title

      77 reviews
      1.0
      Jun 19, 2017

      Don't trust the what the firm say

      Fsc
      Recommend
      CEO approval
      Business Outlook

      Pros

      Call centre is quite impressive. Training is good and relevant to the industry.

      Cons

      As a current employee, I will not recommend anyone joining the firm! Upon knowing the review is bad in this website, we were told to give positive review! - CEO is not an easy person to work with. If your directors is under his good books, you will benefits. - If not, your team will suffer from unfair treatment. - Unfair distribution of orphan leads. - Low Banding (lowest in the market) without vesting. Only recently, the management decided to revamp the Banding structure due to an exodus of agents. - CEO have a long history of bullying staffs since his time with Aviva Advisors. - Compliance team is not independent - Late commission payday - Promotion depends whether CEO like you.

      avatar
      Legacy FA Response
      6y
      We’re sorry you did not have a good experience. While the financial reward is very good, working in sales is a challenging job and not suited for everyone. That said, we always take feedback seriously. We wish you the best in your future career.
      4.0
      Jun 25, 2017

      Financial Consultant

      Manager
      Recommend
      CEO approval
      Business Outlook

      Pros

      In Legacy FA one is taught to be client-centric. Hence, intense training is given to ensure a financial consultant rises up to the mark and beyond. The goal is just not about bringing in the sales but more so becoming a true sales professional. Clients are made to feel the true value a Legacy FA consultant brings to the table. By doing so, a Legacy FA financial consultant constantly gets good referrals from satisfied clients and importantly builds a sustainable and rewarding long term career in the financial services industry. The grooming, coaching and training continues into a financial consultant's management career so that one excels in management as well

      Cons

      A culture that some may find difficult to stomach is the high standards of discipline and commitment to achieving a financial consultant's career goal. One is told exactly how one is performing. To some this injures their pride. However, those who face it and amend their ways find that the path to success beckons

      3.0
      Jun 25, 2017

      Stuck in a sinking ship hoping to get out soon

      Financial services consultant
      Recommend
      CEO approval
      Business Outlook

      Pros

      I have been in the financial industry for 7 years. From banks to tied agency to FA firms. Legacy FA is the 2nd FA firm I'm in. So I believe my advise would be more beneficial and relevant. Trainings are good. Though slightly outdated but better than the banks and a few firms I have been in. Interesting call centre where they hired visually impaired persons to call for them. Brilliant idea as it gives jobs to the less fortunate and a good way to keep telemarketers. Company (not employees or agents) is definitely sustainable for long as they will make a lot money from the commissions of those agents that left. (Half of company strength, 80% of top producers) That's about the pros of the company. The rest are just standard throughout the financial industry.

      Cons

      Ugly politics. One of the worse politics I have seen in my 7 years of experience. Biased management. It happens everywhere but this place is also one of the worse I have seen.. And I thought bank would be worse... Looks like I'm wrong. Lacks support to move to management. Directors in the company makes a lot of money from agents. Therefore you are always obstructed to move up as its a disadvantage to directors. Unless of course as mentioned, you backstab your colleagues or bosses and get deep into politics with them. Little talents left in the company. Half of the company has left.. That consist of a good 80% of the top producers. Those who stayed on are either stuck with liabilities with the insurer supporting legacy fa or just boot lickers of the management. There are also a handful of Non producers stuck too. There must be a good reason for agents to leave legacy fa. (Bear in mind you lose all the commissions and flow over of commission that you made last year and few years ago when you leave) the simple reason is the company is slowing down and with the ceo and team focused heavily on kicking out talents (with no idea why) One of the lowest producing FA Firms I have seen. You can count the number of MDRTs with one hand. CEO is nice to the visually impaired telemarketers (I think everyone should be) however he shouts not only at other staffs in front of everyone, but also disrespect business development managers from the insurer in front of everyone. Can you imagine the support you will be receiving from the insurer in future if you scold the managers from the insurer? That's probably the reason why insurers don't really support this company.. Many non producing agents left. Reason is training is quite outdated. Not focusing on building relationships with clients or prospects. Management too focused on recruitment than good relevant Trainings.

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      ReviewsLegacy FA reviews

      Glassdoor has 79 Legacy FA reviews submitted anonymously by Legacy FA employees. Read employee reviews and ratings on Glassdoor to decide if Legacy FA is right for you.