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Brokerage Branch Manager

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Brokerage Branch Manager Career Overview: A brokerage branch manager is in charge of a particular branch office of a brokerage firm, supervising all personnel therein, especially the financial advisors.

Background: Branch managers typically are drawn from the ranks of financial advisors. So-called producing branch managers have retained a book of business, and continue to function as financial advisors in addition to taking on managerial duties. They are found most often in smaller branch offices and in smaller firms. By contrast, non-producing branch managers have become full-time managers, and do not have clients of their own. They are most common in larger branch offices and in larger firms.

Responsibilities: A branch manager has responsibility for all aspects of a branch office’s operations. Of particular concern is the settling of client complaints that have escalated beyond the financial advisor, and in adjudicating disputes between financial advisors, especially in situations when multiple financial advisors attempt to prospect the same potential client.

Branch managers can have a decisive voice in the hiring of new financial advisors into their offices, or in the dismissal of financial advisors for underperformance or for legal, regulatory or firm policy infractions.

Additionally, branch managers take the lead in local public relations, such as making the office and its parent firm a visible presence in community affairs and charitable activities.

In larger firms, and in larger offices, the branch manager may be able to delegate key aspects of the job to one or more subordinates, such as:

Compensation: Non-producing branch managers are paid salary and bonus, with the bonus typically closely tied to branch results. Producing branch managers also receive regular financial advisor compensation on their book of business.

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