Questions from a new hire

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Feb 5, 2008 2:13 pm

Hi,

I recently graduated from college and moved to a new location, the goal was for some time-off before moving back to where i'm from to get started in the workforce. When I got here I got an interview with AMP (something I wasn't expecting) and got the job. I took this as a lucky break but now i'm facing a dilemma...before i continue i'll tell you that 1) my father owns a financial planning business so my natural market is completely dried up and 2) i don't have any desire of staying here long-term (as in no longer than a few months)



so here are my questions...after i pass my certifications (7, 66, etc) is it easy to transfer to a different location within the company? once i have these certs, does it make it easier to find a job with another firm? and finally, i've been hearing a lot of horror stories about this company so should i be concerned with what i'm getting into?



thanks in advance for the advice!

Feb 5, 2008 7:22 pm

You won't get any answers here you can't find with the search button up top, and I guarantee you'll learn more.

The easy answer to me though is go work with your father, no-brainer from my POV.  Learn from him and THEN decide if you want to move.

Feb 5, 2008 7:47 pm
Feb 5, 2008 8:19 pm

when i accepted the job i was entertaining the idea of staying here long-term but in the last few weeks some things have happened that are forcing me in to difficult decisions. i realize that it's not fair to any employer however it was not my intention to leave because i thought i had, as i said, received a very lucky break in finding a high quality job. as for working for my father, that is unfortunately not an option for reasons i won't discuss here.

Feb 5, 2008 9:16 pm

Get out now.  You don't want to live there, it's not a company I would recommend anyone go to work for, having passed the S7, etc. is actually a disadvantage when you're interviewing with reputable firms (it is just a flag that you already have failed in the business).  Move to where you want to live, then find a job.

Feb 6, 2008 9:30 am

Move and then look for work.  Much of this business is office specific.  ABC company may have a great office in LA, but a terrible office in Boston.

Feb 8, 2008 6:26 pm

OldLady - your point about having the 7 already is an indication you've already failed is a bit short-sighted.  Keep in mind, the Series 7 is not just held by Financial Advisors.  A good majority of other financial services employees have the 7 as well, whether they are in asset management on the institutional side, investment banking, research, etc. 

Feb 8, 2008 7:28 pm
Wildcat_02:

OldLady - your point about having the 7 already is an indication you've already failed is a bit short-sighted.  Keep in mind, the Series 7 is not just held by Financial Advisors.  A good majority of other financial services employees have the 7 as well, whether they are in asset management on the institutional side, investment banking, research, etc. 



B.S.  A good majority of other financial services do NOT have the 7 as well.  A small minority, perhaps.  Nothing remotely close to a majority, much less a good majority.

In any event, take a peak at the name of this forum, wildcap.  Registerd rep.  No one here is much CARES about about the jobs you cite.  Oldlady is spot on in her advice - if you already have your 7 but are looking to join a new firm but bringing no book with you, that's a red flag. 


Feb 17, 2008 5:58 pm

Financial services is a very broad category.  If you exclude bank tellers, insurance salesmen, and other types of people that don't sell securities, you may be right on the S7. 


Perhaps we should say people have a series 7 who are authorized to transact in almost all securities.  This would include FA's but also anyone else that can transact on a security (a call center rep at Schwab would come to mind).  You can't necessarily say that someone with a S7 has failed as a FA. 

Feb 17, 2008 6:12 pm

Akkula, I strongly suggest that you become a question asker instead of a question answerer.

Feb 17, 2008 7:22 pm
anonymous:

Akkula, I strongly suggest that you become a question asker instead of a question answerer.



Anonymous has spoken wisely. 

Feb 18, 2008 12:15 am
Thanks for the off topic unsolicited advice.  Ad Hominem comments are a logical fallacy.  If you disagree with my post please go ahead and respond to it directly.  I am not sure why so many people on this forum have been so threatened by me posting. 
 
Perhaps I can predict the next post directed at me..."you are an idiot, you are arrogant, you don't know what you are talking about, you think you are an expert, you need to pull your head out of your rear end, you need to shut up and listen to us experts....."  Perhaps some sarcastic mocking will be next?  Maybe someone wants to correct my grammar or spelling?  Maybe someone will tell me to use the "search" function.
 
Yes, indeed, I have read these forums and I have seen how disrespectful some of the forum members are to other members. 
 
In case you need this definition once more:

An Internet troll, or simply troll in Internet slang, is someone who posts controversial and usually irrelevant or off-topic messages in an online community, such as an online discussion forum, with the intention of baiting other users into an emotional response<SUP =reference id=ref-0>[1] or to generally disrupt normal on-topic discussion.<SUP =reference id=ref-1>[2]


http://en.wikipedia.org/wiki/Internettroll







Feb 18, 2008 12:44 am
Feb 18, 2008 12:48 am
Feb 18, 2008 1:15 am

I can deal with being annoying. 



I am hoping I can have a truce with people on this board so I can learn and also provide input on subjects where I have some experience.  I DO have experience dealing with FAs and plan sponsors every day on 401k plans.  I have almost completed my QPFC ASPPA designation so I am familiar with adoption agreements, plan testing, etc.  I am also fully licensed. 
 
I want to learn more about the different companies that I may join in the future.  I have used the search feature.  I haven't had all my questions answered.  I would like to also learn more about prospecting, selling techniques, strategies, etc.  I hope to be able to provide something to this forum as well as take things from it for myself.
 
I will usually only pull out my "troll" definition when I am being personally attacked for no reason.  Hopefully I will have a more positive experience here going forward.