Where should I apply?
to start i'm 24, I don't have a college degree, I've worked for a bank and worked for an insurance company, plus have a total of 5 yrs experience in sales. I'm looking to become a financial advisor, I want to get out of the insurance business and really focus on financial planning. My question is which firms do you think will take a chance on me since I don't have a college degree? what would be my best options?
I think it will be challenging but not impossible to find a job as a financial advisory without a degree. It might help if you have a very wide reaching network. You should consider pursuing a degree. This will look good on your resume and might get your some interviews.
Which firms would you recommend me apply to? Which firm will give me the best training?
You will never get on with one of the recognizable wall street firms without a bachelors. I would hazard a guess that the same is true for Edward Jones.
One idea would be to get a job as an assistant with a firm/office that will sponsor you for your 7 and 66. While you are doing that job finish your degree in anything. Choose something interesting to you or something that is easy. It really doesn't matter.
Without experience, you probably won't be hired on by any of the major firms.
I'm in the process of interviewing with ML, but I have had licenses (now expired) and a current ChFC financial planning designation. No college degree. When I spoke with the recruiter, I told her that I didn't have the degree, and she said "shouldn't be a problem. We've hired other advisors without a degree." Whether that's true or not, we'll find out soon enough.
A college degree has become a very expensive way for HR departments to determine if "you're smart enough" for what the business does. Instead of giving you an IQ test, they have to make sure they are "objective" in their hiring decisions... so they use "resume qualifications" to justify their hiring.
Just apply and see what happens!
I applied to Morgan, Merrill and Edward jones, I'm in the second step of the hiring process with Morgan now, they had me take an assessment so I'm waiting on their response now. Is Morgan a good company to work for or should I not even worry because I need the experience??
MSSB is as good as any other wirehouse. The assessment is to see if you can pass the Series 7/66. It isn't difficult and it isn't the hardest part about getting the job. The meetings that you present your business and marketing plan are "harder". It's a good firm to get started at.
I like working for a major wirehouse. My payouts may be lower but I get access to a large toolbox to help my clients. Just be prepared toa tough haul.
Not saying that I have the position but I was called by Raymond James. Is that a good company to work for? If offered a position should I take a position there or MSSB?
As others have said, the probability of getting hired by a major firm is very unlikely. I like ZwingDings idea of getting a job as an assistant at a firm that will sponsor you to take tests. If you don't wan't to take that route, maybe you would have a better shot at a firm like Axa or David Lerner.