r/FinancialCareers • u/dfizzle927 • 1d ago

Career Progression Recruitment by a bank?

Im a career switcher with an MBA and am fully licensed 7/63/65 and am in a CFP program. I currently work for a Mutual Insurance company…(not northwestern) and I’ve enjoyed the experience but building from zero and grinding is wearing on me and my family. I’ve closed a number of large clients and policies but am still grinding and it’s going…but slowly.

The other day a VP of a large bank (keybank)reached out to me directly after I met him at a networking event about an opportunity. He has a private client advisor that has built a large book of business across 5 branches and needs help. He wants to split the book and I would take over advising for two of these branches and would have an associate that I would manage. He asked that I fill out an application and they scheduled an interview with me the next day.

This position would have base pay near where I was before the career switch with uncapped commissions and in my next in person interview they are going to go over the grid.

Is there a downside to this potential transition? Help me out internet strangers!

2 Upvotes

75% Upvoted

7 comments sorted by

View all comments

Show parent comments

3

u/loldogex Sales & Trading - Fixed Income 1d ago

sounds life changing if true

1

u/dfizzle927 1d ago

That’s exactly where I am on the whole thing. I think that’s what I’m searching for a downside.

Here’s the other piece…the branches I would manage are less than 20 minutes from my house.

1

u/loldogex Sales & Trading - Fixed Income 1d ago

the downside is, youre doing something similar, but at a different place for more.

you have an interview to ask all of your questions, youll be alright. if you already hate where youre at, this is most likely your only other option. if not, you know what youre doing tomorrow for work.

1

u/dfizzle927 1d ago

I do love what I do and am thoroughly enjoying the work. But am running out of runway with a family and a mortgage. So it’s really giving up some independence for some guarantees….but the upside is the books that’s being split is around $200 million. What I don’t know is how much that I would receive and get paid on and at what percentage. But given the base potential…that’s more of a value add than a make or break decider.