What can you guys tell me about Amex Financial / Amerprise?

[Broken Arrow]

As some of you may know, I've been poking around to see if I can't find a second job. Well, I just heard a voice message from a representative from Ameriprise (formerly American Expresses Financial) about some kind of job being a "financial advisor". This person sounded a little too, um, excited and it got me suspicious. Anybody know anything about it?

edit: This is interesting....

edit 2: Oookay. Aftering having read some of the material from the link, it looks like I won't be calling back.

[PRICEPLUS]

Well, if the idea of selling poeple things they may not need or want is your idea of fun then you have a great opputunity! American Express Fianncial provided me with incentive to work out my own financial plans! 'Nuff siad!

[creditcardfree]

Well, I know that American Express Financial advisors were a fee based financial advisor rather than commission based. I applied to work for them in 1995 and was accepted, but this was starting my own business and I decided it wasn't for me. It is selling and on some levels I have a problem with that, but I also know that there are a lot of people that are opposite of us...that have no clue about investing. That would be the the reward of the job, knowing you helped someone reach their financial goals.

You could always apply to get more information. You don't have to take the job if it isn't for you. I looked at the link...someone is definitely not FOR Ameriprise, but that is true of most business...Walmart, Target, Bank of America, ect.

[Broken Arrow]

Okay, now what about these guys?

Here's a snippet of the email they sent me:

Based on your resume, you have most likely been called by many
employers. We would like for you to seriously consider sitting down with us to
evaluate a career opportunity with Legacy Financial Services.

Our sales growth has allowed us to expand our Sales and Management
teams, producing openings for quality personnel. We provide industry
leading support and development with unlimited advancement.

We offer:

+ $60-$80K 1st year potential (No Experience)
+ $75-$150K 1st year potential (Management Experience)
+ Cash bonuses
+ Stock ownership and Equity Bonuses
+ Health Benefits
+ Lifetime residual income

It all still sounds too flowery to me, especially with the last line. "Lifetime residual income"? What does that mean? Are they talking about MLM tactics or actual investments? I assume that what they're painting is a "best case scenario". However, if they're at least legitimate, then I suppose it wouldn't hurt to go in for an interview, no? It's still a sales job though....

[creditcardfree]

I think the residual income is from the broker/dealer on accounts that you earned a commission. I don't know the specifics, but once you've sold a loaded mutual fund account AND your name as the representative remains on their account AND they make regular investments to the account you will continue to receive income.

That's just my take on it. I don't think it's an MLM...but don't close your eyes to that. Keep in mind those numbers say potential income...you'll have to work pretty hard for that income. When I applied at American Express 10 years ago...they indicated I would need to work 60-80 hours a week for 3 years to get the kind of income state in your post.

Good thing I didn't take it...I was pregnant two months later...how would that have worked for me? I still like the idea of helping people with their finances, the selling part just seems to get in the way for me.

It is a sales job...but it doesn't hurt to apply. Try it out, see what they have to say.

[!Ben!]

I would find an actual Ameriprise advisor and ask to speak with them for 15 minutes about the job.