I need wise counsel!

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Jan 17, 2010 12:51 am

I recently became an bank base financial advisor and I hate the firm.  I been an advisor for 6 yrs at two different firms. Now i am wondering if is it a good idea to resign and take the month off to study for my CFP exam for march and jump back into the seat right after I take the exam.  2nd there is a small compliant pending on me which should be resolve by the middle of Feb.  I need wise counsel? What should I do?

Jan 17, 2010 7:29 am

Stick around and gather as many assets as you can.  If you have a decent book your clients aren't going to leave you alone for a second while you take a month off anyway so it'll seem just like work.  Study at work.  Block certain hours of the day and/or get to work really early.  When I used to cold call I got to work every day at 5 and set up my lists and drink a ton of coffee and read the WSJ and FT.

You need to wholesale the bankers and tell them you'll get them CDs, checking, credit cards, etc., buy the office pizzas on Fridays and really become of their friend if you're going to gather assets from them.  Prove to them that you really know what the hell you're doing and have a passion for it and they'll be directing everybody to have a word with you.

That other thing is a trade error.  I've had as bad as that and just put it in for an adjustment.  They were pissed but my assistant didn't bother reading my email to fix it for a day or two.  You need to get your production up to at least 350 if you want other firms to want you.