FilterLos Angeles, CA
I worked at TIAA full-time (More than 8 years)
Freedom to set own schedule, outstanding benefits, solid company with excellent reputation. If you believe in the mission of working with educators and the non profit fields, you can fit in very well. TIAA offers excellent products at a very low cost. And their technology has improved immensely just over the last few years.
Very difficult to get promoted unless you are willing to relocate far away. Few positions to move into in So Cal other than Wealth Management. Depending on your director they can make your life great or a living hell.
There are a lot of old school employees who don't necessarily like change so change in policy can take a while to make happen. System integration is also a real problem in that FC's rely heavily on their Wealth Manager teammates to ensure they earn credit on referred sales. But many Wealth Managers have idea how to do that. So many sales can get lost unless you are really on top of things. The way Wealth Managers and FC's get compensated is totally different. So until there is better training and integration, these problems will continue to happen.
Advice to Management
Have more oversight on the effectiveness of your field consultant managers. Interview FC's on a regular basis to get honest feedback on their manager. Most FC's do NOT speak up and bad managers continue to manage for years on end without being checked.
The company had good training that lasted about 6 weeks and prepares you well to be a successful wealth planner. You also get a private office and a decent starting salary.
The micromanagement was so insane almost half you day scheduled calls and continuous training. The leads are all done in house and there is no prospecting allowed. You are assigned random clients with account balance of 250k or more in their retirement from a huge geographic area. They limit the clients they give and most have no intention or capability of doing business. It seems most wealth managers last about 18 months which was the case with me. They make you sign a contract that you must pay back 7k "training cost" if you leave before a year of selling.
This will replace the current featured review for targeted profile. Are you sure you want to replace it?
Are you sure you want to remove this review from being featured for targeted profile?