Relocate as an Advisor?

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Apr 29, 2008 4:46 pm

Hope all is well in advisor land.
I am curious about relocating after being hired as an FA.  Lets say you work for a firm like ML or EDJ (i know these firms have strict contracts) for about a year, and you've only just started to build business and you're performing at average levels. 
Then, for serious reasons, you need to move across the country.  Is it possible to keep the job at all (keep your clients, or start from scratch in a new city), or do you just quit and end up paying for training costs?

Apr 29, 2008 5:37 pm

Hmmmm.  When you got answers to your silly question about education based on the actual experience of people successfully working in this field you chose to disregard that information and insult those who were willing to help you by answering even your silly questions.

Now you ask another silly question.

You really think that approach is going to serve you well?

Apr 29, 2008 6:36 pm

You said on the Education board that you're already a FA.  Why don't you ask your BOM or RL this question.

Apr 29, 2008 6:40 pm
IsOldSpiceRightForMe:

You said on the Education board that you're already a FA. Why don't you ask your BOM or RL this question.







I'm sure your clients, if you can dazzle any with that shiny degree, will be thoroughly confident in your consistency.



Apr 29, 2008 6:50 pm

Needless to say, that is a question I would not ask my RL as i've just started in this career.  But it may become important that I relocate due to a relative's health.  So, has anyone heard of this in practice?

Apr 29, 2008 6:54 pm

If you've just started you probably barely have any clients, so tell your RL the situation and maybe he'll let you take the peeps in your book with you. 

Apr 29, 2008 7:02 pm
IsOldSpiceRightForMe:

If you've just started you probably barely have any clients, so tell your RL the situation and maybe he'll let you take the peeps in your book with you. 



    

Apr 29, 2008 7:05 pm

Laughing... so... hard... side... cramping

Apr 29, 2008 7:22 pm

i guess no one has heard of this before. 

Apr 29, 2008 7:25 pm

So let me get this straight...A rookie posts a rookie question in the rookie forum, and you guys flame away like he just insulted your mother?  You bunch of holier-than-thou smug mf's are a piece of work.  I'm pretty certain some of you are the reason why this industry has the reputation that it has.
Let me help you boss...These guys went to Jack-Ass U where they majored in jerk and minored in prick.  some of them graduated with honors, but most floundered somewhere in the back of the class until they were fortunate enough to con some old lady out of her dead husband's IRA and call themselves advisors.

Apr 29, 2008 7:28 pm

Wow, nice 1st post Joe Schmo.  Allow me to introduce you to the Boss.  What?  You know each other?  WHAT?  You're the same person? 








Apr 29, 2008 8:25 pm

I guess the old saying is true, you often can judge a person by his friends.  I will actually answer the original question.  First the flame, Boss concentrate on getting past the 7.  Then the 66.  Then the insurance licenses.  Then learning how to sell.  If you are one of the 60% who make it this far, then your first 25,000 dials.  Whew, end of year one!!!  Yeah!!!  Assuming you are one of the remaining 30%, moving to a different part of the country may or may not be possible.  If you are very good, your B/D will be ok with it assuming your new location's BM is ok with it and has an opening.  You will lose a large portion of what you have built (which may not be much) and you will basically start back at the beginning with a higher hurdle for year 2 in a state you do not know anyone.  You have taken a situation that is very difficult to succeed in and made it far more difficult.  Was that nice enough for you?

Apr 29, 2008 8:29 pm

Boss, you are doomed for failure.  I'm not trying to be a jerk.  ML has high AUM hires.  The odds of someone right out of college succeeding are very low.  When you add in a move to be near a sick relative, all odds are stacked against you.  The bottom line is that you'll be taking a temporary job in which you will be overworked and underpaid.   You'd be much better off doing something else, anything else, until you know if you are staying or going.

Apr 29, 2008 11:32 pm

Primo, what you said has been repeated on nearly every thread in this forum.  thanks for restating that.

When I started my first multi million dollar small business (artist management firm) in high school, I knew what I was getting into.  I knew that I had to build business, client by client.   I know hard work. (yea i know i'm an a$$hole for saying it like this but its true.  And i really needed to shut you a$$holes down...especially you Primo.  You poor poor old man).

and Joe is so right.  This is the sh*t that blows about this forum.  Thats why my other post about Education is so "a**hole" to you guys.  How about a taste of your own medicine?  In close to 90% of the posts in this g*d damned forum, people are attacking each other or their companies.  But after hours of sifting through all of this bs, we rookies finally find some information that will help us in the future. 

Apr 30, 2008 12:07 am

So you admit you had the answer to your question and were still too stupid to resist the temptation of asking it again?  Is your reading comprehension poor?  And just because I need to shave more than twice a month does not make me old (mid 30's).

Apr 30, 2008 12:10 am

you poke at me like a teenager.  How old are yOU?  my comprehension is bad...or i just can't believe you're near 40.


Apr 30, 2008 1:12 am

Robeen Dey?  Is that you?

Apr 30, 2008 1:27 am

That is a Tennessee #

Apr 30, 2008 3:05 am

yeah, thats me guys, way to go!
hey ferris, i didn't know there was a movie about you.  thats awesome. 

Apr 30, 2008 3:06 am

don't you just love the interweb