Salary is only an illusion. You are really just paying yourself.
As you climb the ladders of success, your KPI climbs with you. You don't get a break, unless you take 2 weeks of leave, and your targets *might* be pro-rated. Otherwise, you better start running when the 1st of the month rolls around!
Realistically, a bank has lots of bills to pay. There's branding, advertisements, consumer facilities, and all the other people that's serving and not selling to the clients. Guess who gets lesser share of the money?
Savings Plans, Unit Trusts, Trading Products. Rinse & Repeat
Depending on which stage you are at, there's really not many products you have on hand. In fact, you might be recommending the exact same unit trust to every-single-client. Ditto for savings plan and currency pairs.
5 Things You Need To Know When Deciding Your Career Progression in Financial Sales
Learn about the 6 Financial Advisory Myths
and Why You Need to Take a Serious Look at Your Career
So you spent a couple of years in Banking...
Ever since those movies about bankers came out, financial sales has been one of the hottest jobs in Singapore.
From Gordon Gecko, to The Wolf of Wall Street, to Boiler Room, and even Margin Call..
It's no wonder that everybody portrays that bankers lead a glamourous and high energy lifestyle.
But you and I, we know better.
The life of a personal banker, wealth banker, and even the priority banker is one that's filled with routine.
Starting the journey with promoting savings plans at the branches to eventually tele-marketing for investment products, we all move up the curve to wealth banking where you have recurring products such as dual currency, and eventually, the epitome of structured notes and high netwoth funds.
It's not an easy journey, but here's 5 things you need to think about before you plan your next 10 years...
In terms of product sales, more income is passed to you, and you don't have to wait a year for it.
Typically most products qualify for recurring payments as long as the policy is in force.
Ideally, $400k of annual revenue will get you to MDRT. And the income is not what you would expect in a bank.
Badge of Pride
You decide what you want to recommend to your clients. FA firms won't force retooling on you.
You decide what you want to achieve, On top of that, you can build your own business unit.
1 Overseas incentive trip a year? Nah, how about 4-8 a year if you are a top performer.
Close This Window Now If You Are a Hardcore Banker. You Might Not Be Able to Sleep After This...
Is there a reason to take a serious look at financial advisory firms?
And by that, I'm don't mean insurance agencies.
How about 6 reasons?
Think You Can Handle More Sleeplessness?
Get Your FREE Guide to the
Top 6 Financial Advisory Myths
This WILL change the way you plan the next 10 years of your life.