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Apr 23, 2006 12:51 pm

Hey, I hope someone could give me advice.  I passed my series 7 in sept of 05 and did the whole cold calling thing.  Recently decided to and start college and major in business adm ( I am 19 years old not a 28 year old who all of a sudden decided to go back to school).  I understood what it meant to have a complete education and not just relied on my series 7 to make money.  Company that I worked for wanted me to work full time (55-65 hr work week).  Not adverse to hard work, but going to school and cold calling and getting new leads seemed impossible in more ways than one (250 week for x amount of weeks than its comm).  As we all know, that is not enough for most people to surive never mind a college student.  Are there any other ways of utulizing my series 7 without leaving school.  Any advice would help.

Apr 23, 2006 3:29 pm

Right off the bat, I can think of two options:


1) Have your license transferred to a firm that will let you work part-time, while you attend college. One such company has a website you can explore: www.qcwelcome.com . (Note: I have no personal experience with this company, so I can't offer any recommendations - only caveat emptor.) A poster on these boards, radarnation, works for this company and could give you the lowdown. Just PM him or her. Downside: you're only paid what you earn in fees and commission. If you need a steady salary, this gig ain't for you. Upside: Work part-time and only when you want to work.


2) Find a broker/brokerage team to work for. For this approach, I would personally visit each and every brokerage firm in your area: wirehouse and indy firms. You have an advantage, in that you have a 7 and could handle trades for the broker/brokerage team. Upside: Possibility of a steady salary, while working part-time and keeping your license "alive" thru college. Downside: The salary (if you get one), won't be much in the beginning.


Good luck!

Apr 23, 2006 3:41 pm

Thanks alot for the advice.  I was also thinking about using my investment knowledge to invest with my own money that I get from school and from a part time job that I should be getting in the summer. 

Apr 23, 2006 3:51 pm

Best of luck to you.  I hope that you do realize that your series 7 has not given you any investing knowledge.


If you are going back to school, I like doberman's option #2.


However, if you want to be truly successful, I vote for option #3.  Work full time using your 7 and go to school part time.  Take classes year round and 6 years from now, you can easily be making $250,000 +, have a college degree, and still only be 25 years old.

Apr 23, 2006 6:13 pm
anonymous:

Best of luck to you.  I hope that you do realize that your series 7 has not given you any investing knowledge.


If you are going back to school, I like doberman's option #2.


However, if you want to be truly successful, I vote for option #3.  Work full time using your 7 and go to school part time.  Take classes year round and 6 years from now, you can easily be making $250,000 +, have a college degree, and still only be 25 years old.



Anybody who thinks that tihs business affords an opportunity to "easily" make $250,000 knows nothing about the business.

Apr 23, 2006 6:38 pm

I have to agree with big easy on this one.  Think about it when I would I be able to go to school part time. If I stuck wit my last firm,  I would be working from 7:30am-9pm m-th and friday 7:30 to 5 and work weekends for half the day (if you want to be a million dollar broker).  Im not tryin to be that right now( I know I will be making lots of money) but for now I just want to make steady money and not worry about what I am making week to week.

Apr 23, 2006 7:36 pm

Bad choice of words on my part.  There is nothing easy about it.  What I meant was that if you completely worked your ass off for the next 6 years you could be making well in excess of $250,000.

Apr 23, 2006 8:02 pm

I hear you anonymous, however I could work my ass off when I finish schoool and be a million dollar producer by the time I hit 28.  I just want to get school done and at the same time get some experience working in the financial industry. and gain a stedy income.  What ever happend to working in a back office.  Thanks for the advice

Apr 23, 2006 8:21 pm

Nothing is wrong with your plan.  My plan is only better if your goal is to make as much money as soon as possible. 


I certainly would not have had the majturity at 19 to do much of anything other than drink beer and try to get laid.


Best of luck to you!

Apr 24, 2006 12:53 pm

College guy 19... Man multitask...  Friendly advice...


GET YOUR foundation = degree


Network = stay active in the community and organizations


Join toastmasters = Public speaking, leadership, sales and presentation skills


ENJOY COLLEGE and being 19.. Then after kicking some major butt at college get a part time job as an assistant or something in sales. Then go to school at night and through distance learning.


Not sure if your college is where you want to live, but being active in a lot of different organizations helps with diversity. I am not a millionare or a RR yet, but I have an awesome foundation for success! It's nice to have the options as one journeys through life!



Also there is nothing wrong with someone 30, 50 or 80 going back to school. :)