Why Are You Here?

or Register to post new content in the forum

47 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Sep 21, 2006 12:16 pm

On a More Positive Note.....

Why are you guys (and gals) in this industry? What attracted you to it? Was it something you set out to do or did you just happen to make a career change?


Sep 21, 2006 12:49 pm

I was initially attracted to this industry because I didn't know what else I possibly wanted to do that was involved a potentially high income, no graduate school involved (I was so burnt out on school), and involved working with people. 


I didn't want to work for Ruby Tuesday's for another summer while in college, so I got a job at an insurance company, got licensed, and sold life insurance to anyone who would give me the time of day.  It truly was awful, and I got my teeth kicked in (figuratively) more times than I can count.  But I learned so much about sales, myself, and about people in general. 


Sort of like pledging a fraternity:  It's the most fun you never want to have again.


After a year, I applied to one of the high end insurance company (there are only a handful, and they have all been named here), and was accepted into their intern program.  I did well there, and I worked there until my final semester.


Moved to the capital of the South, worked as a sales assistant in a firm where all the assistants (really almost like junior brokers but handled papaerwork also) except for one was male.  It was the most fun job I ever had, and I worked for a team of brokers w/over 250MM AUM. 


Did that for a couple years, worked as a broker for a very short period, then for personal reasons left Atlanta, relocated back to my home city, and went to work at ML as an FA.  POA was a b*tch, but I met my hurdles up until I got a recruiting call from a large community bank for an a offer too good to pass up.


And ladies and gentleman (and KWS), here I am 2 years later.



Sep 21, 2006 12:57 pm

As I said, he drifted to the career.



What was too good to turn down, other than the lure of not having to prospect--which as it turns out is often a false promise.

Sep 21, 2006 1:08 pm

I like people, they like me.


I like helping people.


I love finance and I have dedicated my education and work experience to this field.


This career can support my families lifestyle.


I want to own my own business and be paid for how hard I work.


This job carries a ton of responsibility with it.  Good people must take that responsibility on.

Sep 21, 2006 1:21 pm

How many families do you have?

Sep 21, 2006 1:24 pm

What do you mean when you say, "I like helping people?"  Have you
spent your life helping people, and therefore know you like it?



How much do you like it?  More than a tub of hot popcorn at the movies, but less than a trip to the dentist?

Sep 21, 2006 1:45 pm
Knows Wall St.:

What do you mean when you say, "I like helping people?"  Have you spent your life helping people, and therefore know you like it?

How much do you like it?  More than a tub of hot popcorn at the movies, but less than a trip to the dentist?


Dude, get a life!!!

Sep 21, 2006 2:02 pm

Wow - the person with the name, 'Knows Wall St.', really does know wall street.  In fact - they should have named themself, 'Knows Everything, on and off Wall St.'.


Does anyone know why NASD Newbie was, 'discarded' from this forum?

Sep 21, 2006 2:10 pm
Knows Wall St.:

As I said, he drifted to the career.

What was too good to turn down, other than the lure of not having to prospect--which as it turns out is often a false promise.


LOL, if you mean I didn't come out of the womb thinking I wanted to be a financial advisor, then yes, I drifted to this career.


Choosing a direction by age 20, and staying in the industry is hardly "drifting."  You truly are a moron, and you illustrate it daily to mine and other's amusement.


I have detailed me terms of my employment in detail in the past...as much as you troll this forum, I'm sure you could locate it.

Sep 21, 2006 2:10 pm
Knows Wall St.:

As I said, he drifted to the career.


As opposed to Putzy, who was attracted by the same things, but failed at it and had to settle for a lower paying management slot....

Sep 21, 2006 2:36 pm

Even though I am now in the insurance side of the biz, I was and am attracted to this work because it involves a lot of problem solving and 'macroscopic' thinking.  It's hard to get bored uncovering problems, generating solutions and persuading others to take action on those ideas.


Also, it was rewarding to be in a career that generates some respect from others.  There is a sort of 'cache' that comes with being an advisor.


Why else?  Hmmmmm..........it is a good feeling when you make money for your clients or help remove some of their stress concerning financial matters.  When I hear "thank you" from a client, it feels very good indeed.


This business generally attracts either very smart people, or those who have some outstanding traits (relative to many other careers) which makes them interesting to interact with and learn from. 


'Intangibles' sales provide a unique challenge to sell concepts, which is a very intellectually stimulating process for me.


I get free lunches several times a week for just showing up and letting some wholesaler sing and dance for me (I'm usually embarassed for them).  I figure this is an additional $1000 plus in benefit.  I also get to eat pretty swanky frequently.

Sep 21, 2006 2:38 pm

"I figure this is an additional $1000 plus in annual benefit"

Sep 21, 2006 5:29 pm

I ignore the jerks here.  Actually, it seems like just one who keeps getting booted and then picks a new name.


How lonely is this guy?  He comes back to a place where people despise him and where the moderators trash him.


He likes abuse. 


Best thing is that jerks like Putsy/NASD/Maven are OUT of this business never to return.


Sep 21, 2006 6:39 pm

I was looking for a career that had the following characteristics:


1)Opportunity to make a lot of money
2)Make a positive difference in the lives of others
3)Get paid to produce as opposed to putting in time
4)No boss
5)Ability to go to child's baseball game Tuesday at 3:00 without having to ask permission

Sep 21, 2006 6:40 pm
anonymous:

I was looking for a career that had the following characteristics:


1)Opportunity to make a lot of money
2)Make a positive difference in the lives of others
3)Get paid to produce as opposed to putting in time
4)No boss
5)Ability to go to child's baseball game Tuesday at 3:00 without having to ask permission





How do you see yourself making a positive difference in the lives of others?

Sep 21, 2006 7:06 pm

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4.   She's a stay at home mom.  Her husband was an attorney.  The policy was in force for less than 3 months.  They had no coverage except a small group policy through his employer before he met me.


He didn't want to meet with me because he handled his own investments and "Life insurance is a waste of money.  I'm just going to invest the money instead."  Fortunately, I've been around long enough to ignore the B.S.


I'm the best thing that ever happened to that family.   I don't think that she cares if the Roth IRAs that they also bought outperform the S&P 500.


Sep 21, 2006 8:02 pm

I'm here for the large commissions, so I can buy a lot of things with the money.

Sep 22, 2006 12:05 am
anonymous:

In June of this year, I paid a $2,000,000 death claim to a woman with 3 children under the age of 4. She's a stay at home mom. Her husband was an attorney. The policy was in force for less than 3 months. They had no coverage except a small group policy through his employer before he met me.



He didn't want to meet with me because he handled his own investments and "Life insurance is a waste of money. I'm just going to invest the money instead." Fortunately, I've been around long enough to ignore the B.S.



I'm the best thing that ever happened to that family. I don't think that she cares if the Roth IRAs that they also bought outperform the S&P 500.







Anon,



Dude, what a great story. You nailed it. At the end of the day, THAT is what it is all about. Kudos to you!

Sep 22, 2006 3:06 am
Knows Wall St.:

What was too good to turn down, other than the lure of not having to prospect


And just how much prospecting does a compliance manager at a wirehouse do? 

Sep 22, 2006 7:02 am

Selling insurance is filling out applications.  Clients come into the meeting knowing they need to buy insurance so the agent does little more than put little sticker things next to where signatures are to go on the paperwork.


When they die and their heirs receive the death benefit it is because the deceased bought the policy and the salesman got the little stickers in the right places.


Nothing less, very little more.