Another Newb Thread

or Register to post new content in the forum

79 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.
Nov 5, 2009 4:28 pm

 Hi There, I’m new to the board and, based on what I’ve read here,  I’ve decided to pursue the EDJ FA position as well as a position with MassMutual or Guardian Life in the event that I don’t get hired at EDJ. That said, I’d like to get some thoughts & opinions in regards to whether or not going this route will be a good idea as I made my decision based on bits and pieces of information drawn from threads in which I only have one thing in common with the author.
 
About Me: I’m a 20 year old AA Female with a B.S. in Finance. FWIW, I graduated with a 3.9 GPA and have lots of honors and awards that I’m fully aware don’t mean much at the places I‘m considering. I'll also be looking to work in the SE Florida region.

Work Experience: Nothing exceptional but I do have experience going door to door canvassing for a local independent party and getting middle aged and up individuals to give me the time of day to talk politics and give me their contact info. I also have typical retail customer service experience mainly via working at Victoria’s Secret.

Lastly, since I’ve read the thread posted by ElectricSqueak , I'm not Windy and I said FU to my last two years of HS which is why I graduated University at 19 going on 20.

TIA for taking the time to reply to my thread.


Nov 5, 2009 4:53 pm

Since you've read the ElectricSqueak thread you then know that in order to be vetted on this site I need to see your picture so I can vouch for you.

Nov 5, 2009 4:58 pm

f***ING ROOGLE

Nov 5, 2009 6:07 pm

IMHO:


You're really young.  You're going to be asking 75 year old men and women for their money.  Getting them to talk politics with you is a LOT different than getting them to give you their life savings.  So, unless you look older than you are, you're going to be fighting an uphill battle.  Unless you doorknock wearing only the clothing line you used to sell.  Then they'll be throwing money at you.  It'll only be small bills, but new FAs have to take what they can get.
 
Second, please don't take this as a racial comment, but you're AA.  The AA advisors I know personally have to work a little harder because of their race.  The AA community isn't well known for having a great investing history.  And those 75 year old white guys are going to have to overcome some stereotypes before they give you their money.  They don't know that you graduated early with a great GPA and that you have a degree in finance.  They'll see you as that AA girl (not woman) who rang the doorbell. 
 
Third, like most recent college grads, you probably don't really know what you want to do with your life.  Sure, you have a finance degree, but that doesn't mean you learned how to sell stocks and bonds.  You have a theory based degree.  The real world is a lot different than the classroom.  I don't know of many people who were ready for this job at 20. 
 
Finally, there's a huge difference between MassMutual, Guardian, and EDJ.  If you're determined to get started with one of those companies, the first decision you need to make is do you want to sell insurance or investments?  At MM and Guardian you'll be selling insurance first, investments second.  At Jones it's just the opposite. 
 
If you were willing to relocate and wanted to work for Jones, I'd suggest the PASS program.  You'd be based out of STL for a while, but could eventually end up back in FL.  I'm not sure how much info is out there on the PASS program, so PM me if you want more info on it.  I know there's at least one former PASS guy on here once in a while.  Maybe he'll chime in.
Nov 5, 2009 6:23 pm

I'd personally go the mutual insurance route given your age.  I don't mean that as a knock, but as an opportunity.  Use what you have to your advantage to get meetings and bring in a senior rep to close the business.  Not saying it will be easy, but you're fate is completely in your own hands.  As you develop an insurance base and pick up some investments along the way, there is no reason you can't adjust your practice as you choose down the line.

Nov 5, 2009 6:38 pm

lol....No joke....I thought AA was her bra size, particularly after the Victoria's Secret comment!   I guess I need to go through the sensitivity training again!

Nov 5, 2009 6:46 pm
Spaceman Spiff:

IMHO:

You're really young.  You're going to be asking 75 year old men and women for their money.  Getting them to talk politics with you is a LOT different than getting them to give you their life savings.  So, unless you look older than you are, you're going to be fighting an uphill battle.  Unless you doorknock wearing only the clothing line you used to sell.  Then they'll be throwing money at you.  It'll only be small bills, but new FAs have to take what they can get.

Ahh, I figured this much based on what I read which is why I'm trying to speak with someone who took the 500 day war approach while at EDJ. Still going to be difficult, but at least I can sound older than I am.

Second, please don't take this as a racial comment, but you're AA.  The AA advisors I know personally have to work a little harder because of their race.  The AA community isn't well known for having a great investing history.  And those 75 year old white guys are going to have to overcome some stereotypes before they give you their money.  They don't know that you graduated early with a great GPA and that you have a degree in finance.  They'll see you as that AA girl (not woman) who rang the doorbell.

One step I planned on taking to address this is the cold calling approach and, as far as the AA comment is concerned, I'm technically West Indian. Consequently, while being black will still be an issue, as far as my community is concerned, I shouldn't have too much of a problem. Being born and raised in the WI,  90% of the black ppl I know are West Indian and the one's where I plan on living, grew up with, and currently know are all middle to upper class...(one of the benefits I guess of having parents who worked in the WI and later moved to the States). 

 
Third, like most recent college grads, you probably don't really know what you want to do with your life.  Sure, you have a finance degree, but that doesn't mean you learned how to sell stocks and bonds.  You have a theory based degree.  The real world is a lot different than the classroom.  I don't know of many people who were ready for this job at 20. 
 
Can't really argue with you here but, bottom line is, this is what I went to school for and took such an interest in that I switched majors half way through my junior year. Matter of fact, my degree concentration is in personal financial planning. Also, the way things are practiced in the real world is different than the classroom in pretty much every field besides math and science. Lastly, not to be c***y, but I've always been light years ahead of my peers academically and maturity wise.


Finally, there's a huge difference between MassMutual, Guardian, and EDJ.  If you're determined to get started with one of those companies, the first decision you need to make is do you want to sell insurance or investments?  At MM and Guardian you'll be selling insurance first, investments second.  At Jones it's just the opposite. 
 
I know there's a difference. I mentioned MassMutual and Guardian because, in the event I don't get hired at EDJ or I can't make it door knocking/cold calling, I can go the insurance route. Then, after selling insurance for a while ( thus gaining industry relevant sales experience and some extra years of life), I can make the transition to selling investments as well. Additionally, as a result of working at one of those two places, if I go indy I can take my clients with me. Or, who knows, I may very well stick with selling insurance. Either way, I still get to help ppl financially plan for the future.


If you were willing to relocate and wanted to work for Jones, I'd suggest the PASS program.  You'd be based out of STL for a while, but could eventually end up back in FL.  I'm not sure how much info is out there on the PASS program, so PM me if you want more info on it.  I know there's at least one former PASS guy on here once in a while.  Maybe he'll chime in.

I haven't read much about the PASS program but, my understanding is that you train at HQ for about a year and either get a GK or have an increased opportunity to receive one. Whichever way it works, I'd still only be 21 by the time the program ends. Nevertheless, I suppose the assets given as a head start counts for something and I should probably look into it.



Thanks for your reply, plenty of food for thought even though it may look like I tried to counter your points so I can stick with my current plan.

Nov 5, 2009 6:59 pm

x2 on the pass program ... and until I get that picture you are just Windy to me.

Nov 5, 2009 7:02 pm
Squash1:

f***ING ROOGLE



Start posting the link or these noobs will never figure it out.


ROOGLE:  http://forums.registeredrep.com/search_form.asp?FID=0

Nov 5, 2009 7:03 pm
Hey Kool-Aid:

lol....No joke....I thought AA was her bra size, particularly after the Victoria's Secret comment!   I guess I need to go through the sensitivity training again!

 
Don't feel bad. I thought the exact same thing.  I was wondering why someone would post their bra size. I wasn't sure how that was relevant, but then again, there has been quite a bit of speculation on mine....
Nov 5, 2009 7:10 pm

Unless you're going to do so in Milwaukee (not the suburbs, the city itself), Kenosha, or Racine you are probably not going to have luck as a black person doing mass prospecting in Wisconsin.

I'm on the west side of the state and there's no one here to dislike because of their skin color so people have to use religion as a reason to dislike each other.

Nov 5, 2009 7:29 pm
MsBroker:
Hey Kool-Aid:

lol....No joke....I thought AA was her bra size, particularly after the Victoria's Secret comment!   I guess I need to go through the sensitivity training again!

 
Don't feel bad. I thought the exact same thing.  I was wondering why someone would post their bra size. I wasn't sure how that was relevant, but then again, there has been quite a bit of speculation on mine.... Particularly if it was only AA  ......and btw  still wondering about yours!!! 
Nov 5, 2009 9:44 pm
voltmoie:

Since you've read the ElectricSqueak thread you then know that in order to be vetted on this site I need to see your picture so I can vouch for you.

 
 - awesome. It took everything in my power to refrain from making a "picture" comment. I am glad you did it for me, I feel better about myself!
Nov 6, 2009 1:29 am
BerkshireBull:

Unless you're going to do so in Milwaukee (not the suburbs, the city itself), Kenosha, or Racine you are probably not going to have luck as a black person doing mass prospecting in Wisconsin.

I'm on the west side of the state and there's no one here to dislike because of their skin color so people have to use religion as a reason to dislike each other.



I'm looking to work in SE Florida.

Nov 6, 2009 1:31 am
Squash1:

f***ING ROOGLE



I already did that. I said I was seeking tailored advice since the threads I've come upon mention being young, female, or AA but never the whole trifecta.

Nov 6, 2009 8:10 am
S. Charlie:
Squash1:

f***ING ROOGLE



I already did that. I said I was seeking tailored advice since the threads I've come upon mention being young, female, or AA but never the whole trifecta.

 
I hope you aren't also in a wheelchair.  Are you?
Nov 6, 2009 8:45 am

Why are you putting yourself in a box?  I never see any asian or hispanic women make a big deal about their race.  If you are articulate, smart, and driven what does it matter if you are black.  Oh, and African American? Really?  Did you just imigrate here? I've never seen a white person defined by a continent.  Grow up and assimilate.

 
If you are so worried about it go find a phone sales job where they probably won't know.
Nov 6, 2009 9:21 am
BerkshireBull:

Unless you're going to do so in Milwaukee (not the suburbs, the city itself), Kenosha, or Racine you are probably not going to have luck as a black person doing mass prospecting in Wisconsin.

I'm on the west side of the state and there's no one here to dislike because of their skin color so people have to use religion as a reason to dislike each other.

 
 - WI as in West Indies, not the Cheese Head state. 
 
 
 
Nov 6, 2009 9:34 am
S. Charlie:
Squash1:

f***ING ROOGLE



I already did that. I said I was seeking tailored advice since the threads I've come upon mention being young, female, or AA but never the whole trifecta.

 
You certainly have some different obstacles to overcome than the older white guys, but you sould very determined to make it work.  I still think something like the Pass Program would be great for you.  There's a big difference between textbooks, retail, and the financial sales/financial planning world.  While you've got some contacts from your family, they won't be enough, unless they're really rich, to build a complete book on them.  You're still going to have to go out and find some people on your own.  You have to sell yourself to people (not literally of course) before you can sell them a product or before they'll allow you to do any financial planning for them.  I think it would be a benefit to take your existing knowledge and drive, get some experience and practice, and then go for it. 
Nov 6, 2009 10:15 am
S. Charlie:
Squash1:

f***ING ROOGLE



I already did that. I said I was seeking tailored advice since the threads I've come upon mention being young, female, or AA but never the whole trifecta.



In her defense, ROOGLE sort of sucks. Last week I was trying to find a good cold calling script and had a hard time narrowing it down.

I may be a moron though...