RIA thinking of becoming a Branch FA at JP Morgan/Chase
Hi everyone, I'm brand new here and this is my first post.
I'm an RIA with an insurance company in NYC.. I'm sort of a protege in a 4 partner team.. getting 5% of their cases and doing a lot of grunt work. We do a lot of indepth estate and retirement planning. Tons of insurance... very little investments. Lots of Trusts and FLPs. Tons of ILITs.
Their business has completely died down.. I've built a small practise of my own but it's not big enough. I'm a great closer but a terrible finder/networker...and I'm slowly starving to death. I've been offered a position as a Branch FA in Teaneck NJ.. I'm strongly considering it. I would of course bring over my old book.. but it's pretty small. I want to use JPM to build my book.. then move on to a wirehouse.
Does anyone have any thoughts about this? Anyone ever worked as a branch FA at JP Morgan?
I'm afraid that the branch may be small and not in an afluent area. Is that a total deal breaker?
I've already learned on this forum that I have to ask about teller transactions and bank deposits when I visit the branch, so THANK YOU ALL for that!! Super helpful.
You would do fine over there. You have to realize though that you are not working for a brokerage house when you go there. Its a bank and you have to know that you will get treated like that by any real investor.