Pros
Fexibility to make your own schedule. You're given a small book of business which is rare in this industry. You are also assigned various employer groups to work. VALIC has payroll slots & established relationships with many hospitals, public school districts, universities, and municipalities nationwide!
Cons
Client's are extremely unprofessional and have very little respect for you or your time. Company does not pay you a cent to service hundreds of legacy accounts that are service intensive & your responsibility. You pay for 100% of your expenses, car, insurance, gas and tolls. Company has been slashing it's Advisor Compensation annually across the board for the last 10 years! This practice only causes more advisors to quit because financially they can't survive and meet their household obligations. Advisor turnover has been the number 1 problem at VALIC for the last 20 years. Management picks its "Pet Advisors" (favorites) Nationally and gives them the best groups, hospitals, large universities & municipalities. VALIC client assets are NOT sticky (no loyalty) & transfer out daily. Many clients are pure interest rate shoppers and they go to the best rates period! When high balance clients retire many take their money with them to their "other guy/girl advisor" who will manage it for them, now that you advised, reviewed, and annually encouraged them to save & accumulate hundreds of thousands $ for decades. For every large $ contributing client that retires you need 20 new clients in order replace the reoccurring income of that 1. Sad but true this place has turned into a 100% commission sales job. VALIC as a company is A-Okay with you and your family having no safety net financially, as they have literally stollen advisor reoccurring compensation routinely for years. I have easily witnessed 100 plus advisors hired & fired or voluntarily quit because they can't pay their bills. VALIC's management are highly compensated individuals who are not in touch with reality, and their focus is on their sales goals and year end bonus! Management just wants the "business/new assets." Management's attitude is get the money at all costs.... Upper level management regularly preaches from their soapboxes that "advisor books of business are gold mines" and "all advisors have the same opportunities" Both statements are 150% FALSE! If this was the case FA's looking for employment would be breaking down VALIC's doors for jobs and that is not the problem here.(remember high FA turnover) Management also claims that VALIC has all the same products, resources & planning tools that the big wire houses offer and we should let our clients know about these valuable resources. This statement is also false, VALIC is an insurance company and 100% of our offerings are annuities & life insurance. Management can "take" your clients away at any time. It's not a secret, VALIC management wants all FAs to know they own your clients/book which is true because the book is 99% annuities that's are very difficult to transfer.