Financial & Mortgage Loan Advisors
Financial and investment advisors often work under the misconception that they are not entitled to overtime compensation simply because they are paid commissions or a salary—or a combination of both. In reality though, the law often requires that financial services employees who work primarily in an office, or whose primary job is to facilitate sales over the telephone, be paid overtime for their hours worked in excess of Forty (40) per week.
Similarly, mortgage loan advisors, or mortgage loan officers, are typically entitled to overtime compensation, regardless of the manner in which they are paid, when their job is to sell mortgages over the phone.
If you have worked for a bank, mortgage company, lender, stock brokerage, investment company or any other financial institution within the past three (3) years and have a question about your right to fair pay, contact us at the Shavitz Law Group, P.A. today.