Starting out, EDJ or RIA

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Apr 26, 2012 4:38 pm

I am retiring from one career and potentially making a move to financial planning.  Let's just say I have been presented with two options:

1.  EDJ with a salary for 2 years and what seems to be a great training program.  Lower max payout over the long haul, but salary to help while building a book.  Another bonus is brand name recognition.  Negative, focus on commission vice fee based, learn to be a saleman vice an advisor?

2.  Opportunity to work at/as a RIA, but no salary while getting started.  Very senior owner who will mentor/train with a payout of 50%.  All fee based.  Better payout in the long run but risky in the near term.  Truly acting as a advisor.  

I'm torn between security in the near term, a known company with name recognition and training compared to jumping in in the RIA world coming off a career change.  I do believe in the fee based approached but it is my understanding the EDJ offers some similar models in their portfolio of options. 

Any advice would be appreciated.