What is best place for newbie right out of college?

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Mar 18, 2015 10:07 pm

Im looking for a company to be a financial advisor for right out of college. For obvious reasons, they need to have a good training program and high success rate. Also I would prefer a base salary then gradually move over to a fee structure. Finally I would hope the company does not have any strict non competes or contract that locks you in for many years. Is there any place that fit these general descriptions?

Thanks

Mar 19, 2015 7:25 am

Johnny,

Have you used the search function?

I'd start out looking in to Merrill Lynch and other wirehouses, like UBS

If it's base salary you are looking for, Edward Jones has the best training and offers a base salary up to $50,000 a year; however, you will also have a non-compete to sign, not sure how strict though.

Finally, go ahead and forget about the training program with a high success rate. This industry has a lot of turnover, you need a thick skin.

P.S.
You can check this article out: http://www.lifehealthpro.com/2015/03/12/top-10-financial-and-insurance-companies-to-work-f?page_all=1

Mar 20, 2015 12:46 pm

There's reviews on thejunioradvisor.com that you look at.

Based on that, I'd go for UBS or Wells. Don't do ML, you won't make it -- unless you go to their new financial associate route.

Mar 20, 2015 12:49 pm
ericchoe:

There's reviews on thejunioradvisor.com that you look at.

Based on that, I'd go for UBS or Wells. Don't do ML, you won't make it -- unless you go to their new financial associate route.

He's right. You need to be able to bring in the assets. That website is the best for college students and what not. It helped me make a decision.

Mar 23, 2015 1:09 pm

A lot of my students are going through the ML program and while some are hitting the benchmarks its tough going and I think they are all looking to get out because they do not think they will graduate out of the program as the hurdles are too high and they feel they are not getting as much help from superiors.. Also most are REQUIRED to use a series 7/66 training program that is horrendous and they have to pay for their own separate vendor despite signing a contract that they will exclusively use this vendor.
Ken Finnen
Follow me on twitter if you want specific tips on the exams and basic market tweets @wallsttutors

Apr 2, 2015 11:25 am
wallsttutors:

A lot of my students are going through the ML program and while some are hitting the benchmarks its tough going and I think they are all looking to get out because they do not think they will graduate out of the program as the hurdles are too high and they feel they are not getting as much help from superiors.. Also most are REQUIRED to use a series 7/66 training program that is horrendous and they have to pay for their own separate vendor despite signing a contract that they will exclusively use this vendor.
Ken Finnen
Follow me on twitter if you want specific tips on the exams and basic market tweets @wallsttutors

Agreed