FA as a second job

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Feb 8, 2012 12:21 pm

Looking at taking a full time position unrelated to investing.  Would like to keep my small book of business.  Would a b/d allow someone to stick around if they only had $30k to $50k in gross rev?  Also, if I sold my book, and only wanted to do 401k plans on the side of my full time job, would I need to keep my 7, and if only doing 401k plans is an option, is there a b/d that would allow that??

Feb 8, 2012 1:33 pm

[quote=LaFA]

Looking at taking a full time position unrelated to investing.  Would like to keep my small book of business.  Would a b/d allow someone to stick around if they only had $30k to $50k in gross rev?  Also, if I sold my book, and only wanted to do 401k plans on the side of my full time job, would I need to keep my 7, and if only doing 401k plans is an option, is there a b/d that would allow that??

[/quote]

Probably depends on the job. Plenty of B/D's don't have any minimum requirements and won't pressure you to hit any quotas etc as long as you're doing some business (I'd imagine).. Some, like HD Vest, have advisors that own tax or accounting practices. Just be honest and direct and ask around (just like prospecting)

Feb 8, 2012 1:43 pm

Put yourself in a clients shoes.  Would you want the individual who helps you with your finances to be a part-timer?  I highly doubt they would.