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Dec 22, 2014 5:47 pm

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Dec 22, 2014 11:59 pm

Hi PackerBacker, it seems like you have a lot more research to do before you get into this industry. To even get a CFP you need at least 3 years of experience. I would strongly recommend interning at wirehouse (UBS, Merrill, Morgan Stanley etc.) or an RIA to see if you even enjoy the industry before you go to grad to school. The curriculum to get your CFP isnt necessary for full time education and could be taken while working and gaining experience. It is very difficult for someone at a young age and I would suggest to find a team to start with. Hope this helps.

Dec 23, 2014 12:39 pm

Wolfgang5 I have heard that you can complete all aspects of the CFP requirements then get the experience requirement as long as it is within 5 years of completion. Is this true or false?

Obviously you would not be a CFP until the experience requirement is met

Dec 30, 2014 11:40 am

Hi PackerBacker3,
There are many perks to both either independent or work at a large firm. I think the on-boarding process and training would be good at a large firm, but I would honestly look at a boutique firm that deals with high net worth clients. Succession planning is the biggest issue in these industries and I think working for a smaller firm with some older folks will give you great hands on experience. The large firms tend to chuck you to the wolves and if you survive awesome if not then "see ya!" The boutique firm would solve the mentor issue and if they are established looking for succession it will give you time to step up down the road and take over! sounds like you are on the right path working to get your CFP (I heard it's a pain in the butt!) If you can achieve that goal then you will be in a great position down the road.

As far as how much you can take home.... That's up to you my friend. The harder you work the more you can make. It's the beauty of the biz. But, if you are doing it for the money... Then don't do it. just my two cents. I wish you the best of luck in your journey. Attached is a good article on succession planning that I think you could learn from. May get an understanding that you have a HUGE opportunity as a millennial entering the financial world!

http://vitalfirm.com/the-millennial-successor/

Dec 30, 2014 11:41 am

Hi PackerBacker3,
There are many perks to both either independent or work at a large firm. I think the on-boarding process and training would be good at a large firm, but I would honestly look at a boutique firm that deals with high net worth clients. Succession planning is the biggest issue in these industries and I think working for a smaller firm with some older folks will give you great hands on experience. The large firms tend to chuck you to the wolves and if you survive awesome if not then "see ya!" The boutique firm would solve the mentor issue and if they are established looking for succession it will give you time to step up down the road and take over! sounds like you are on the right path working to get your CFP (I heard it's a pain in the butt!) If you can achieve that goal then you will be in a great position down the road.

As far as how much you can take home.... That's up to you my friend. The harder you work the more you can make. It's the beauty of the biz. But, if you are doing it for the money... Then don't do it. just my two cents. I wish you the best of luck in your journey. Attached is a good article on succession planning that I think you could learn from. May get an understanding that you have a HUGE opportunity as a millennial entering the financial world!

http://vitalfirm.com/the-millennial-successor/

Dec 30, 2014 11:41 am

Hi PackerBacker3,
There are many perks to both either independent or work at a large firm. I think the on-boarding process and training would be good at a large firm, but I would honestly look at a boutique firm that deals with high net worth clients. Succession planning is the biggest issue in these industries and I think working for a smaller firm with some older folks will give you great hands on experience. The large firms tend to chuck you to the wolves and if you survive awesome if not then "see ya!" The boutique firm would solve the mentor issue and if they are established looking for succession it will give you time to step up down the road and take over! sounds like you are on the right path working to get your CFP (I heard it's a pain in the butt!) If you can achieve that goal then you will be in a great position down the road.

As far as how much you can take home.... That's up to you my friend. The harder you work the more you can make. It's the beauty of the biz. But, if you are doing it for the money... Then don't do it. just my two cents. I wish you the best of luck in your journey. Attached is a good article on succession planning that I think you could learn from. May get an understanding that you have a HUGE opportunity as a millennial entering the financial world!

http://vitalfirm.com/the-millennial-successor/