3 years ago
Worked with NEXT for 3 years as an independent ad...
Worked with NEXT for 3 years as an independent advisor. I would not suggest to take this dip with them if you want to go independent. Their internal paperwork is a nightmare (80+ pages of disclosures). Their technology is a joke, it really makes it hard to be a productive advisor. They use one E&O company that overbids the price of insurance that you need to be able to be a rep. I left them recently and I am pretty glad that I did. Their commission runs are a joke and on one occasion they have forgotten to pay me for my Management fees. It s like taking a step back in the industry when you work with NEXT. They do not put money back into the company and it s why they are losing Advisors. I understand the freedom at NEXT. But, when they limit the technology systems that you can use and you have to pay for it, it really makes it counterproductive. I am so happy I am no longer associated. I would not switch over, you are better off taking a haircut at another firm and having good Tech systems to benefit you as an advisor. I am in the process of being paid on accounts that I managed btw (going on a month until they switch the accounts over) big time miscommunication inside of letting Advisors know what is going on. Not cool, I am very fortunate that some big commissions came through or I would really be hurting. Update 12/27/17 It s been 2 months and I have yet to be paid for my work Management fees. Charge backs to the client, bs fees that the firm charges to you as an advisor. Do not choose NEXT. Luckily I landed a great Advisor job after NEXT or I would be hurting. Now I wait on a response from the back office of back offices to whether or not if I ll be paid this month for money I ve earned... Advisors be warned, you may want to go independent, but NEXT will take you for a ride. You will be the last person paid for money owed. Update on the company name should be... NEXT!!! Get it?