Market Share, Conglomerates

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Jul 28, 2006 3:57 pm

In the interview process, I am hearing two statements on which I am soliciting your opinions:


1) Wirehouses that are not #1 or #2 in a given region give a new FA greater opportunity, since they are less likely to trample on business already with the firm.


2) Wirehouses that are not part of a big conglomerate are a better choice, since their retail brokerage is the core of their business.


Jul 28, 2006 4:07 pm

True, but you also forgot one other very important and critical point which will save you alot of wasted time and money.


1) If you're starting from scratch in this biz, forget it. The odds are against you. You'll probably fail within the first couple years.


2) Choose another career.

Jul 28, 2006 5:15 pm
ezmoney:

True, but you also forgot one other very important and critical point which will save you alot of wasted time and money.

1) If you're starting from scratch in this biz, forget it. The odds are against you. You'll probably fail within the first couple years.


2) Choose another career.


Which one of these two is the "very important and critical point?"

Jul 28, 2006 5:38 pm

2) Wirehouses that are not part of a big conglomerate are a better choice, since their retail brokerage is the core of their business.


Opie-  Not sure that makes alot of sense.  I think you, not the firm, need to find the clients to build your practice.  Why does the b/d matter?  Will a small b/d help you close business harder than Wachovia or ML?


#2-  I'm not sure about that.  If current Reps were landing all of the business, why are thry looking for fresh blood?