Want to still be financial industry

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Dec 7, 2009 9:18 pm

I need some insight on how to get back into the business. Been out of work for approx 4 months now. Things didn't work out at Ed Jones and I want to know the best way to market myself.

Dec 7, 2009 9:19 pm

What went wrong at Jones?

Dec 7, 2009 9:28 pm

What goes right at Jones ? It will be a shorter list.

Dec 7, 2009 10:11 pm
Ron 14:

What goes right at Jones ? It will be a shorter list.

 
 Classic...
Dec 7, 2009 10:13 pm
stillhappy:

I need some insight on how to get back into the business. Been out of work for approx 4 months now. Things didn't work out at Ed Jones and I want to know the best way to market myself.

 
Call the local/regional/national banks, most are just looking for a warm body with licenses already, plus you could build a decent book without a lot of prospecting..
Dec 7, 2009 10:36 pm

Volt is back!!!

Dec 8, 2009 9:12 am
A couple of ideas...
 
To do this you have several ways to get your name out there and hopefully an interview or two.
 
1) Plan to contact established Registered Investment Advisory firms, and try to uncover an employee situation where you could really learn the business, by servicing small accounts, and doing some cold marketing.
 
2) Plan to contact some local independent broker/dealers to see if they need a junior advisor. The value proposition is that you can service and look for hidden gems with all the smaller accounts and at the same time prospect a possible niche market you may have.
 
3) If you could find an indy b/d with an RIA arm that has an OSJ you might be able to hang your license there, pay some low rent, and work for yourself at a pace you would be comfortable with. These indy b/d's would most likely have a local name as their DBA, which may make it difficult to locate them.
 
4) Plan to pursue an opportunity at a bank or credit union. This may be anything from a sales associate to an administrative assistant.
 
Your prospect this time is an employer not a client. Either you want it or you don't.
Dec 9, 2009 12:07 pm

I was in a similar situation, worked for UBS got laid off and found a way to work in the business part-time while still have a full time job in another industry.  Gives me time to build a book while not having quotas sitting on my shoulders!  Also can work full time if I ever find myself out of work.  If you are interested in learning more send me an email and I can fill you in on the whole process. 

Dec 11, 2009 11:45 am

DeBolt,



This is excellent. Thank you for these ideas. I wills start implementing and keep u posted on which one works.

Dec 11, 2009 11:46 am

yes definitely. email address is goodlife29340@yahoo.com

Dec 11, 2009 11:52 am

stillhappy...goodlife...are you Stuart Smalley?

Dec 11, 2009 4:43 pm

its volt...too addicted to this forum to ever really leave...or windy...
or just some other clown who feels grifted.

Dec 8, 2010 10:58 pm

[quote=indyptime]I was in a similar situation, worked for UBS got laid off and found a way to work in the business part-time while still have a full time job in another industry.  Gives me time to build a book while not having quotas sitting on my shoulders!  Also can work full time if I ever find myself out of work.  If you are interested in learning more send me an email and I can fill you in on the whole process. [/quote]

I'm curious how you did this?  It's crossed my mind because I'm still building my book and want some stability for my family.  Please advise

Dec 20, 2010 9:36 am

You might want to consider establishing your own RIA firm.  I've personally worked with several Ed Jones Reps who did.  It is a lot easier (and cost effective) than what you might have heard particularly if your find the right RIA consultant who can do the heavy lifting for you.  Or, you can always consider joining an existing RIA firm in your area and become an Investment Advisor Representative (IAR).  Or, you can form your own RIA and establish a working partnership with another RIA (kind of a combo mixture).  

Have fun whatever you do, we need more and more good people in our industry.

Happy Holidays!

Fred