Starting out, EDJ or RIA
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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.