Financial Services Rep - Anonymous employee Hoopis Group Employee Review

1.0
Jun 15, 2018
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

The relationships you build with other young professionals and the few upper management who seem to care are special. Very good friends to this day. Other than that, nothing.

Cons

Be very careful young professionals. The things they tell you in the interview process make it seem like you'll earn 100k year 1 when in reality the majority of the young reps in the office make 15-20k. The management team in the Chicago office is laughable. They are more worried about there own agendas than actually help develop talent. It seems as though these "leaders" are only focused on how much they make and that comes off very clear to everyone else. They get young people to come in, work with older reps, and because the turnover rate is astronomically high, the older reps feast on family and friends after you're gone. The can toe the line on compliance, especially in private meetings. The message they send to prospects is very misleading and I have found it to do more harm than good, especially in my own case. I have had to mend relationships with family and friends because of the "work" older advisors did with them thinking it was going to help me when in reality it only serves the top dogs. I worked there for 2 years and almost everyone that I had worked with is gone to different jobs. Working here caused my problems in my life than anything they could have paid me. PLEASE STEER CLEAR AWAY YOUNG PROFESSIONALS.

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Hoopis Group Response
7y
At Hoopis Group, we pride ourselves on support for our advisors and the notion of personal responsibility. When advisors choose to join Hoopis Group, they do so because they alone are in control of their success. The harder they work, the more they reap. In order to provide a leg up in the initial phases of their careers, we provide mentors and experienced advisors to teach our new advisors how to build their personal practices and become successful advisors. Unfortunately though, not all advisors succeed in this industry. Our retention rate compares favorably to that of our competitors and we know that once an advisor leaves, the relationships and clients that they have built are left in good and competent hands of their fellow advisors providing the clients with the financial solutions they need. We are sorry that you did not succeed in this position and wish you the best of luck in your future endeavors. Only you control your success!

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5.0
Aug 1, 2022
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CEO approval
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Pros

People are great. Very flexible schedule.

Cons

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4.0
Nov 29, 2017
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

You are able to broker out and use other companies. They cover your upfront company expenses in the first year. You build your own residual income the longer you are there and they truly focus on what is in the best interest of the clients. You are essentially your own boss. You will gain a TON of experience and knowledge over years of being there. Income potential is unlimited but it is very hard work. Don't think for a second you can just come into a wealth management firm and expect to make a ton of money if you do not do what they tell you to. Staff is fantastic and always willing to help get what you need when it comes to education requirements, on going training, licensing, etc. Company events are always a lot of fun. Endless training topics that you can educate yourself on at your own leisure. Requires you to get your Series licenses. Many experienced advisors to learn from. Great benefits.

Cons

No base salary. Too many unclear and constant changes all at once without always being properly informed. Understanding pay structure and your company expenses is very confusing and unclear at times. A lot of required meetings that become redundant.

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