I applied online. I interviewed at Forest Hills Financial Group (Chicago, IL) in Aug 2024
Interview
I interviewed to be a Financial Advisor at FHFG. I was told it's a 1099 role so no base salary. The do have a draw system to borrow against your future earnings until you start closing deals. It's a mostly remote role. At the end of the interview they said I would hear back in a few days but I was ghosted even though I have plenty of experience and told them I was interested despite it being a 1099 role.
I applied online. I interviewed at Forest Hills Financial Group in Jan 2025
Interview
I was looking to transfer more into the advisory/wealth management space from my current role as a personal banker and I came accross this firm. Was looking for something with a base salary, so when I saw an opportunity with FHFG I relied on luck and applied.
The next business day I was contacted by one of their MD's to schedule an interview. During the interview the MD went over the advisor role and the expectations that come along with it. In addition to him asking about/me sharing my qualifications and experience, he asked innappropriate questions in a condescending manner about my ethnicity and my accent and questioned where I was really from despite me living in the US for the last 3 decades. Anyways, we scheduled a follow up meeting to discuss compensation.
During the latter meeting, we went over the earning potential for advisors in years 1-5. Yes there was a base salary, but it was only going to be there for 6-12 months and wont cover for living expenses. That being said, I told the MD I need a week to consider wheter i really want to make the move. A week passed by and I kindly wrote a genuine email to him explaining that yes while I am interested in this career I am not financially ready. He then emails me back saying that I can intially sell insurance on the side and get word out there to my network that I am considereing sgtarting my business all while am still working my current banking job. Now this is clearly a red flag - first off when someone says "sell something on the side", IMO it's no different than selling cutco and making extra cash on the side in addtion to your full time job. Second, I am not going to sacrifice my relationships and be a cannon fodder/lead generator for a firm that I may very well not join for the reasons I mentioned.
Bottom line, if you are an entrprenuer or new college grad lookign to enter the financial industry, go ahead and apply, and also be prepared to sacrifice good relationships. but if your an experienced professfional like my self, I would reconsider. in the latter case apply to firms like Morgan Stanley and Ed Jones they provide at least a livable salary while you source clients.
Interview questions [1]
Question 1
General questions about work experience, what i bring to the table, etc. nothing out of the ordinary but it was innapropriate when asked about my true origins.