FAs are rated the 3rd best job in USA

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Apr 26, 2006 2:56 pm

do you guys think that is true?


how do you like your job?


how about your life?



i want the truth baby

Apr 26, 2006 3:50 pm

First in the highest start and quit ratio!

Apr 26, 2006 10:45 pm

That rating must be for established FA's.  

Apr 29, 2006 3:42 pm

so do you guys disagree? i'm assuming most of the people on this board are established.

Apr 30, 2006 3:30 pm

All depends on perspective and how they quantify "best".


If you want  a career with high earnings potential, look no further. Your income can be greater than the CEO's of the companies who's stocks you sell-Higher than your doctor, cardiologist, and neurosurgeon.Maybe even combined.


The price:


talking to as many people as possible to "hire you" as their adviser (20 to 50 a DAY for a few years)


Ability to handle the nausea of thinking you'll make $30,000 a year from a potential client after all of the work, relationship building, late hours working on the case, only to find out that he's going to go with the competition, and your left with nothing (except the experience)


Ability to handle the nausea of winning a $30,000 case and thinking hell. you'll find 10 others just like him this year, only to look back at the end of the year as they are repossessing your car because you slacked off.


Ability to handle the nausea of losing your clients money, and then paying 30,000 to defend yourself because her family suggested she sue you


Constantly keeping abreast of changes in tax law and the markets (one of the most enjoyable parts of the job, actually)


Having a great year so far only to find they're closing your office, and terminating you.


Expecting a $20,000 paycheck and it's only $400, because they credited someone Else's account, and it will take 7 weeks to fix.


You get your check and it's only $8000 after taxes


Your manager's a total moron, and you have to kiss his a** everyday.


Some a**holes fly planes into buildings in NY and many of your cases go up in smoke.


Some senators are vying for reelection so they come up with more stringent securities and privacy laws which consequently give you carpel tunnel from the additional obscene amount of paperwork.


You like to brag that your in the 3rd best profession.(Jeez, what ones made #1 and #2?)


On a personal note, I love it- been licensed for 16 years,independent for 13, and net over $150,000 just walking in the door every year from trails and fees.


Paid my dues, but it's still very hard to live a $700,000 a year lifestyle on$150,000 in residuals, so I still work my ass off.


Stok

Apr 30, 2006 7:57 pm

very nice post



keep em coming guys!


would you chose this job if you had to start all over again with life?


what would you do different?



do you enjoy your life!?!?!?

May 1, 2006 10:43 am

Brothak,


Its obvious you are a reporter.... My guess is that you work for some schlepp rag in podunk-USA....

May 1, 2006 4:15 pm

I know the article you're talking about.  They measured established "career" FAs, and didn't include start-up difficulties in the mix.

But they have a point, this is a great business IF you can make it.

But if you're not willing to work hard and build your practice right then you're better off in another line of work.  

May 1, 2006 5:46 pm

It all comes down to the wave of wealth to be transferred to the next generation. Lots of business for advisors for the $10 trillion to change hands over the next 10 years.



Stok

May 4, 2006 4:59 pm

nope, i'm just a senior in college and really interested in this career and trying to get as much info as possible.
i totally do understand the "no pain, no gain" theory everyone is stating
however is the "gain" worth the "pain"

do you all enjoy your lives? would you do this all over again?

May 4, 2006 5:00 pm

Yes and yes.

May 4, 2006 5:21 pm

nice... now i want to hear if there are any regrets?