Equitable Reviews

Cognitive Dissonance forever. It's a legal pyramid scheme that hypes you up as wealth management financial professionals but in reality you're cold calling random school teachers trying to get them to invest in a 403b so you can split the commission with your boss. You don't even get a guaranteed salary until you make like $3000 in commission after the first year. Senior management is nonexistent except to give random trainings which are just hour long motivational speeches on getting creative on "prospecting" aka finding friends and family to ask to invest.

1. You do NOT own your clients. Be careful when you sign your contract. When you leave the company, you are under a strict 1 year non solicitation agreement meaning they will sue you if you attempt to take any of your clients with you. Management will gobble up your clients and can do so at any time for any reason. 2. CHARGED MONEY TO LEAVE. Equitable will send you a bill for any commission they allegedly overpaid you when you worked there. A debt collector agency - Thomas George Associates - will reach out and demand you to pay - in my case of $12,000. 2. Pressure to sell to friends and family. Without a natural market you are forced to cold call or work their retirement benefits group where you sell high fee variable annuities to teachers. They recently settled a $50M fraud charge with the SEC as a result of non disclosure of fees. 3. Mandated to Sell Equitable Proprietary Products. If you fail to sell these products they will cut your health insurance and other benefits. 4. Base salary is $24,000 for 2 years and you get paid half your salary 5. Required to pay for your own cubicle, technology, E&O insurance, phone, laptop, license fees, etc. 6. As a result, the turnover rate is astronomically high. Management's goal is to hire as many unsuspecting young people as possible so they get paid a bonus. Then when that person fails out, they will gobble up the clients and enforce the non complete agreement.