I cant find a job!

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Jan 29, 2010 6:33 pm

I have all my securities and insurance licenses but do not have any experience in the financial service industry. I have applied everywhere and keep getting rejected I guess because I have no financial service experience. Any opinion on what I should do? merrill, jpmorgan, wellsfargo, all rejected me. Any advice on how I can get my foot in the industry? or is this not the right time?

Jan 29, 2010 6:43 pm
bulllives:

I have all my securities and insurance licenses but do not have any experience in the financial service industry. I have applied everywhere and keep getting rejected I guess because I have no financial service experience. Any opinion on what I should do? merrill, jpmorgan, wellsfargo, all rejected me. Any advice on how I can get my foot in the industry? or is this not the right time?

 
Edward Jones
Jan 29, 2010 6:44 pm

How do you have all of your licenses but no industry experience?

Jan 29, 2010 6:57 pm
Wet_Blanket:

How do you have all of your licenses but no industry experience?


Because he's trolling.
Jan 30, 2010 6:55 pm

I was sponsored for the 7 etc until I U5ed, and took the rest of the licenses without a sponsor.



You can take the 63 66, and insurance licenses without a sponsor broker. duhhhh

Jan 30, 2010 7:21 pm

Why did you U5?

Jan 30, 2010 7:21 pm
bulllives:

I have all my securities and insurance licenses but do not have any experience in the financial service industry. I have applied everywhere and keep getting rejected I guess because I have no financial service experience. Any opinion on what I should do? merrill, jpmorgan, wellsfargo, all rejected me. Any advice on how I can get my foot in the industry? or is this not the right time?

 
Try the EDJ Pass Program. Not sure how much you make during the program, but its a good start if you're young...
Jan 30, 2010 7:26 pm

What does your U5 say?

Jan 30, 2010 10:01 pm
Mr.Blonde:
bulllives:

I have all my securities and insurance licenses but do not have any experience in the financial service industry. I have applied everywhere and keep getting rejected I guess because I have no financial service experience. Any opinion on what I should do? merrill, jpmorgan, wellsfargo, all rejected me. Any advice on how I can get my foot in the industry? or is this not the right time?

 
Edward Jones
 
Absolutely Ed Jones. You are starting from scratch and you need some fundamental investment sales training.
Feb 1, 2010 6:12 pm

The firm closed its office after the financial markets got decimated.

Feb 1, 2010 6:14 pm

My U5 says voluntary U5. There is nothing negative on it. Now I am told since I dont have years experience in the financial markets thats prob why.

Feb 2, 2010 9:42 am

You should at least apply with EDJ.  You can also look at regionals, banks, and credit unions.  Just because the big wirehouse firms don't want you doesn't mean there isn't anyone out there who won't hire you.  




 
Go find a local EDJ guy and tell him you'd like to apply for his job. 
Feb 2, 2010 2:01 pm

I have applied to JPM as licensed representative and they rejected me multiple times because of my lack of experience in the financial sector even though I do have all my licenses and years of sales experience in other sectors. Wells Fargo rejected my financial advisor trainee application because they said they are hiring internal candidates to fill the positions. It is really hard to find a job.

Feb 2, 2010 2:05 pm

Listen to Spiff.  Jones really doesn't want you to have any financial experience unless that involves producing as a financial advisor.

They don't want you to go too far off of the reservation.

Apply.  If you are as talented as you think you are, they'll give you shot.

Feb 2, 2010 2:18 pm
Moraen:

Listen to Spiff.  Jones really doesn't want you to have any financial experience unless that involves producing as a financial advisor.

They don't want you to go too far off of the reservation.

Apply.  If you are as talented as you think you are, they'll give you shot.

 
Actually, about 90% of the FA's in my region were in financial services prior to Jones.  Some were producers, but most were bank managers, insurance sales, back office of big insurance companies, etc.
 
Feb 2, 2010 2:20 pm
B24:
Moraen:

Listen to Spiff.  Jones really doesn't want you to have any financial experience unless that involves producing as a financial advisor.

They don't want you to go too far off of the reservation.

Apply.  If you are as talented as you think you are, they'll give you shot.

 
Actually, about 90% of the FA's in my region were in financial services prior to Jones.  Some were producers, but most were bank managers, insurance sales, back office of big insurance companies, etc.
 



Interesting B - in my old region it was the opposite - 90% had no financial experience.  Those that did, were producing transfers.

Feb 2, 2010 2:36 pm
bulllives:

I have applied to JPM as licensed representative and they rejected me multiple times because of my lack of experience in the financial sector even though I do have all my licenses and years of sales experience in other sectors. Wells Fargo rejected my financial advisor trainee application because they said they are hiring internal candidates to fill the positions. It is really hard to find a job.


Why don't you look for a licensed personal banker job? That way you get in the door and gain some experience they are looking for and if an internal opening comes up you can just transfer right over.
 
Or look for an registered asst position/financial analyst on a team..
 
I would tell you to ask a local ria(but you don't bring anything to the table)... One thing you could try is look up the local LPL guys, they would probably take you on for 10-20% fee, of course no salary, book or prospects but you would be in the door. Then just bust it real hard out of the gate...You could probably do 3-5k gross your first month or second if you prospected real hard..
Feb 2, 2010 2:38 pm
Spaceman Spiff:

You should at least apply with EDJ.  You can also look at regionals, banks, and credit unions.  Just because the big wirehouse firms don't want you doesn't mean there isn't anyone out there who won't hire you.  




 
Go find a local EDJ guy and tell him you'd like to apply for his job. 

Stifel hires anyone.. there was a lady in our area who ran ads in the paper under 4 different companies...(ok, AGE, wachovia, and wells are technically one) but she got hired on at Stifel and her production was like $70K(i know because a wholesaler ask me if I would OSJ her)
Feb 2, 2010 5:32 pm

Ed Jones and Ameriprise are probably going to be your best bet being brand new to the industry. 

Feb 2, 2010 5:41 pm

If you've been rejected by all you say you have there is some other fundamental issue you must address. Get some help with your resume and how to interview. Read up on how to crush the personality tests, etc etc.