I've read a lot on here about some of the big wirehouses like ML want their FAs to focus on million dollar + accounts. Do companies like ML provide leads of people with a million dollars or more to invest or how do their FA's come in contact with enough million dollar clients to keep ML happy?
It's your job to find them...that's what they are hiring you for. If you can't find them on your own, they don't need your presence in the office and will fire you.
If you're really lucky, your complex director will take you out for the day at least once a week to introduce you to million dollar investors that are not ML clients. He will take you to their home or office or country club, introduce you, and tell them to sign your ACAT paperwork. They will do this and you won't ever have to find any clients on your own. It's so easy I don't know why more college graduates don't get into this business right after school. I mean, you're almost guaranteed to be hugely successful in two years max...
You are about to be thrown into the deep end of the pool. Sink or swim. Your BM may shout some instructions like don't breathe in the water but that is about it. If they knew any easy way to find million dollar clients, they would go after them themselves, they certainly would not tell the noob. If this is your reaction here, what are you going to do when it gets tough in the real world?
We’ll I’ll probably cuss anybody out in the real world that doesn’t have a million dollars. jk, point taken. It’s a “Rookie” forum and that’s a fair question that I asked. I figured the answer was go out and find them yourself but still thought I’d ask.