Seeking advice from "Old Pro's"

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Jun 30, 2005 3:51 pm

What would you do differently or what would you do the same if you were just getting started in this business today?<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Would you go work for a wirehouse or go the independent route?


How would you go about starting a book of business?


Would you get the CFP Designation prior to entering the business?


Etc. Etc...

Jun 30, 2005 5:34 pm

Nfs411,


I am not an old pro being in the business a little over nine years, but I will give you my insight. 


I don't think I would do anything different.  Every mistake I made has been a growing experience and every thing I have done correctly has been very rewarding.


I think working for a reputable brand name firm is great for starters(Merrill Lynch or Smith Barney). Later on, you can work for a regional or go independent.


I would start your business just like I did mine.  Get on the phone and start dialing.  Referrals and networking come later after years of networking and working with satisfied clients.


I am a CFP.  To obtain a CFP disignation, one must be in the financial industry for a minimal of two years.  Don't worry about the CFP until your fifth or sixth year.  You must build a clientele.


Jul 14, 2005 10:30 pm
joeblowyourmama:

Nfs411,


I am not an old pro being in the business a little over nine years, but I will give you my insight. 


I don't think I would do anything different.  Every mistake I
made has been a growing experience and every thing I have done
correctly has been very rewarding.


I think working for a reputable brand name firm is great for
starters(Merrill Lynch or Smith Barney). Later on, you can
work for a regional or go independent.


I would start your business just like I did mine.  Get on the
phone and start dialing.  Referrals and networking come later
after years of networking and working with satisfied clients.


I am a CFP.  To obtain a CFP disignation, one must be in the
financial industry for a minimal of two years.  Don't worry about
the CFP until your fifth or sixth year.  You must build a
clientele.






Hi Joe...,

Im 25 and will join the financial services industry as a FA; the question is really what firm should I choose.

I have been offered a position with AEFA, and am interviewing with UBS, AGE, and MS.

Morgan offered me a position over the phone after the interview and told me they will send an OFFER LETTER in a week or two.

AGE seems very interested, so does UBS.

Which firm would you choose at age 25?

Thanks in advance.

Jul 14, 2005 11:09 pm

What firm is best in training for new FAs? MS, AGE, UBS?

Jul 15, 2005 12:25 am

Forget cold-calling over the phone. Get off your a$$ and go out to meet
business owners at 8am, before the secretary shows up. Tell them you
were in the neighborhood, and you just want to drop off a business card
in case there's anything you can do for them. Ask if you can call back
in a coupla days. It makes an impression worth 100 cold-calls.

Jul 15, 2005 10:54 am
Sailor25:

Forget cold-calling over the phone. Get off your a$$ and go out to meet business owners at 8am, before the secretary shows up. Tell them you were in the neighborhood, and you just want to drop off a business card in case there's anything you can do for them. Ask if you can call back in a coupla days. It makes an impression worth 100 cold-calls.


This is SO true.


Successful people do what unsuccessful people don't want to do, and too many advisors don't want to prospect, because they fear rejection, and heaven forbid they actually work up a sweat.