They sure seem to have a lot of "help wanted" ads in the paper. I remember failing a similar "test" at a similar place when i got right out of college. They were looking for idiots to dedicate their lives to their work..... that is sort of the opposite of me.

Goodluck if you go. Let us know how it went.

 

I started at AEFA 10 years ago. I got minimum wage (I'm not kidding) for the first few months until I started bringing in new clients. The reason I picked AEFA over the other firms (in the mid-90's they were all hiring if you were breathing) was that they had (and may still have, depending on the part of the country you're in) great training. I had three CFP's with 10 years of experience each available for training and covering appointments. I would have continued working for minimum wage the whole first three years if I had to in order to get that training. You can't buy it and it's all that matters in the industry. Today, I am independent from AEFA (have been for years) and have a bunch of clients I like, they like me, and I'm bringing in net income well over a million per year (I'm not kidding) and I have a business worth 2 - 3 million.

It's a ridiculously hard industry when you start, but it becomes easier as you learn. The survival rate is low, and that's why the income is so crazy high. The thing that's easy about it is that results matter and if you deliver the results you'll get more referrals than you can handle.

AEFA is like any other company with commission based income - the conflicts of interest make it very hard to be a good situation for both the client and the advisor. So, my recommendation is to go with the company (whichever it is in your area) with the best training program and switch to independent fee-only around 3 - 5 years if that appeals to you.

Edit - by the way, two of my friends who started the same month as I did failed all the interview tests. Both went back to the office, found the managers who did the interviews and asked them to reconsider. One said something along the lines of "Not hiring me will be your biggest mistake - I'll make it big with another firm and shove that fact in your face every year". The other one said with a smile - "Hire me or I'll stalk you in the parking lot every day". That kind of attitude is exactly what they want. The interview is just a way to get the numbers down and get to know the candidates. AEFA has people come back all the time and insist to be hired. Management is under tremendous pressure to fill the training classes.

 

i hate amex period.


recently i had a credit card with them.. blue cash


i paid all of balances.. every time the statement comes

one day. their fraud prevention called. mailed me a letter stating that they need to verify my identification.
i gave them all the doc they needed.
the bullshit they gave me that my W2 was tooo old.. ( 2003 instead of 2004). they moan and moan..

screw em... avoid anything that has to do with amex.

go with a real firm. like big 4

 

Harpoon:

Sounds to me like you had some natural talent!

 

Yep, but I'm not that unique. Investments/finance is the field to be in you're looking for the combination of mental challenge and financial reward.

I have some buddies from college who are trading on Wall Street and bringing in way more than I am. They are employees of firms and don't own their own business though!

 

Harpoon,
Thank you.
well i dont think i did well at this time cuz i was just way too nervous.
couldnt even represent myself or have the answers they were looking for.

i dont care how much i get paid if its minimum or hourly wage,
but my ultimate goals are to continue to grow and improve myself.

thats all i ask for.

i think i should stalk that interviewer in the parking lot everyday.=)

 

They want you to bring them all your contacts, get as many on board as you can, and then go away so they can bring in another batch of fresh new employees with contacts. They don't care if you make it in the long run.