Independent Capital Management Interview Questions
& Process

I applied online through my university's career center. After not hearing back for about a week, I called to follow up. They immediately offered me an interview, which was a bit surprising but what I wanted. A week later, I went to their San Diego office for the interview. It was in a small conference room with about 12-15 other candidates. They started by pitching the company to us and why we should want to work there. This was unexpected because usually, the company is trying to sell itself to candidates, not the other way around, which felt like a red flag. Afterward, they took us individually into a private office for what they called their 'first round interviews.' They asked only two questions, which are listed below. I decided not to proceed to the second round because the whole experience gave me a weird vibe. It felt like they were just broadly hiring a lot of people and would keep the best ones, which wasn't what I was looking for.

I have prior industry experience with licenses and financial planning certifications, and was curious about this company due to a former coworker. My interview was at the Ontario location, and I expected a one-on-one, but it turned out to be a group setting with about 10 people. We had to submit our resumes and fill out a simple job application before a presentation. The presentation was a major red flag; the company talked about expanding everywhere and needing managers, which seemed like a pitch, especially with all the recent graduates present. It felt like an MLM meeting, with classic sales tactics to recruit distributors. They told us not to ask questions during the presentation but to participate, which is another MLM sign. In financial services, it's best practice for interviewees to ask more questions than the recruiter to show preparation. I wanted to ask questions and point out the presenter's lack of knowledge compared to mine, but it would have been rude to interrupt. The presenter also oversold the career, mentioning an average income of $168,000 (I believe it's closer to $55k) and the joy of 'helping people.' A big warning sign was that they're the only financial services company that reimburses licensing costs *after* six months, suggesting high turnover. Their website, which they praised, only lists 18 managers, questioning the supposed great opportunity. Promoting a 'management track' implies the specialist role is just sales. Real companies hire managers directly because the skills are different. Being forced to become a Supervisor to get advanced licenses pushes people *out* of advanced work. This is a typical MLM-type venture, except without the initial recruiting, though the Divisional Manager's presentation indicated recruiting would eventually be part of the role. It's an MLM with all the signs, unlike upfront companies like Primerica or World Financial Group. Promoting top salespeople into management leaves no one to grow the client base for high-net-worth clientele. Not all salespeople are suited for management; top advisors should earn more than their managers. The real opportunity is in being a financial advisor, not in management or recruiting.

The initial stage involves a group setting in the main meeting room with other applicants. A District Manager will present details about the company and the necessary licensing process. They also cover the costs involved and mention a 6-month reimbursement for fees if you stay. The presentation also touches on why keeping money in a bank might not be ideal. Following this, the main manager addresses questions, and there's a brief individual interview with each candidate. The second stage is also in the meeting room, focusing more on the training and licensing schedule, and describing a typical day with both office and non-office activities. Compensation structures, including the commission-only basis with a draw requiring specific conditions, and potential for growth are explained. Again, a short individual interview follows. You might receive a callback the same day regarding the outcome.

It's a two-day interview process. Both days include group interviews with breakout sessions, lasting about two hours each. Day one focuses on the company and gauging your interest in a breakout session. If you pass the initial checks (like good credit, being a US citizen, and having a natural market), they'll invite you back for day two. Day two covers the payout structure and allows you to ask questions. They extend offers to everyone because there's no cost to them to hire you.