Need help with the interviews at ML

Big mistake.  Obviously uou have no book of business, and if so not one worth much. 

Otherwise they wouldn't be having you take "entry tests" and you have to go through all the hoops.  They would be COURTING you and trying to convince you why ML has the best deal, best platform, etc...

If you can't build a book at a bank, you're not going to surivive by "moving on to something more challenging."  If you really want to be a rep, stay at the bank (or go to another bank), build your book and solidify your relationships with your clients, THEN go indy or to ML/MS/UBS/AGE/RJ/ etc.

But then again...what do I care?

uou = you   

I work in a retail branch environment.... for people like you, when I said registered rep, I meant I have my series 6,63 to offer some mutual finds to bank customers and set up retirement accounts besides the bank operations crap that I spend most of my time on, my book is not worth much, you're right, because I don't get paid on it, and it is not mine, so I don't kill myself for something that is not going to be mine. But again I feel that I am very good with people and I can succeed in the right environment. Thanks for the reply though.

Now is there anyone who can give me some helpful info on interview process at ML or you are going to preach what is right or not for me..

So your not even a bank rep your a licensed banker.  You don't have any experience or knowledge, the 6 is a joke.  It should be illegal for people to advise clients with a 6. (or a 7 in my opinion, CFP minimum). Try this, pick up the yellow pages and turn to whatever business you think you might relate well to the owner and call them.

Ask them if they would like to talk to you about their retirement or investments or something along those lines.  Now do that 10 times.  Now put the phone down, pick up the newspaper and find something else to do with your life because I just saved you three years of it, your welcome.

Target 2-3 different niche markets that you will prospect for clients. Devise a repeatable and actionable strategy to market to those groups.

Then convey that to your ML managers and your chance is that much greater..

Bankrep,

You're contradicting yourself, first you're saying that no one should listen to people like me, and then you want me to pick up the phone and ask people if they would want to talk to me about their retirement. That is the whole point that I want to move somewhere where I can at least pick up the phone and have something to say, instead of wasting my time setting up appointments for people like you.

Blarmston thanks for the reply, could you give me an example of repeatable and actionable strategy.

c'mon bankrep a cfp minimum? Give me a break! None of us need a cfp unless we are all coming across clients with over 2mill all the time.

A cfp=Joke I said that before and I'll say it again. don't waste your time rookies. A cfp is for pikers without a real degree.

Regie,

I am saying you don't need to get the job to see how it is going to work out.  Pick up the phone and try it, your not going to get enough people to talk to you.

[quote=ezmoney]

c'mon bankrep a cfp minimum? Give me a break! None of us need a cfp unless we are all coming across clients with over 2mill all the time.

A cfp=Joke I said that before and I'll say it again. don't waste your time rookies. A cfp is for pikers without a real degree.

[/quote]

None of us need the CFP unless were dealing with folks of 2 million plus, but it's a joke.  So what your saying is the Series 6 prepares folks to give advice.

In every country I have ever heard of except the good ol' USA a financial advisor is well trained and distinguished.  Not here's an insurance lice go pitch an EIA and call yourself an advisor.

EZ, the CFP is the best credential for a financial planner at the moment, they are developing the credential which will take years.  They now have several hundred financial planning bachelor degree programs instituted at colleges around the country eventually it or a credential like it and the degree itself will be the minimum credential like it or not.  Similar to the CPA.

What are you doing to promote the profession in which you work?  Wouldn't it be nice if you were some professional standards?

Guys, I need some input on interview process itself only, any recourses that you would recommend that will help me to answer some expected and unexpected questions, what are the questions like, what is it like to be interviewed by few advisors, any good answers that I can give to look good. I don't care at this point about CFP or other designations, I'll worry about that when the time comes, all I am trying to do is pass the interviews, don't steer away from the topic, please!!!

Thank you for your time again!

[quote=regie]

Bankrep,

You're contradicting yourself, first you're saying that no one should listen to people like me, and then you want me to pick up the phone and ask people if they would want to talk to me about their retirement. That is the whole point that I want to move somewhere where I can at least pick up the phone and have something to say, instead of wasting my time setting up appointments for people like you.

Blarmston thanks for the reply, could you give me an example of repeatable and actionable strategy.

[/quote]

I would encourage you to take a remedial English course to prepare for the interview process.

Thanks Joe, I am already doing that, anything else?

The people rating your interview will be looking for experiences where
you have attempted aomething and failed…how did you handle it? 
Experiences where you have tackled a big project and made it work…why
did it work and what did you take from it?  What have you done in
your history that is an example of cold and warm sales?  Talk
about your organizational skills…in detail (what process do you
follow when multi-tasking?  What kind of market will you be
pursuing and why are you better at it than everyone else?  Why do
you want to do this career?  How much money do you think is
realistically “alot” to earn in a year?



All of the input here discouraging you from pursuing this should be
taken seriously.  It is very difficult, but not impossible. 
Many people we interview knwo alot of rich people, but very very few of
them are able to turn any significant number of these folks into
clients.  I would make sure you ask about the training you will
get specifically to marketing and sales assistance/training (siminars,
joint meetings with a senior rep, a mentor, etc…).  You should
have between 15 to 20 prospect meetings each week, including
Saturdays.  Think about that and design a way to make that happen
and you should be fine.  Good luck.

[quote=ezmoney]

c’mon bankrep a cfp minimum? Give me a break! None
of us need a cfp unless we are all coming across clients with over
2mill all the time.

A cfp=Joke I said that before and I'll say it again. don't waste your time rookies. A cfp is for pikers without a real degree.

I’m fine thanks rightway. I may complain, but I make a decent living. Did about 40k gross last month. will probably do another 20k gross this month. It’s not indy like you rightway but that’s a different animal, although one I’d like to try after I’ve accumulated enough aum.

[quote=ezmoney]I'm fine thanks rightway. I may complain, but I make a decent living. Did about 40k gross last month. will probably do another 20k gross this month. It's not indy like you rightway but that's a different animal, although one I'd like to try after I've accumulated enough aum.[/quote]

rightway isn't indy he's at a wire...think he's involved in the management team at his branch in addition to production.

make sure you have a good lawyer before you try to take 'your' aum away from the branch where you used to be an EMPLOYEE to go indy....

Regie,

Be upfront and address the potnetial concerns ML may have- you are relatively inexperienced, you dont have a large book to transfer over, you never worked for a wirehouse, etc, etc. Convey to them that you are aware these may be considered disadvantages, but show them you are ready to prove those doubts wrong.

Similar to anticipating a prospects objections and concerns by addressing them before the come up. Remove to some degree the doubt by mentioneing it, then move on to closing them on why you deserve a chance.

[quote=ezmoney]

A cfp=Joke I said that before and I'll say it again. don't waste your time rookies. A cfp is for pikers without a real degree.

[/quote]

Says the guy who knows so little about what it takes to earn the designation tat he thought he could walk in and take the two day, 10 hour exam on a "challenge" basis.  I sense an envy issue 

I have my CFP and will soon have his MSFS. 

I like the CFP more.

By the way EZ answer my question from bottom of page 1

[quote=bankrep1]

I have my CFP and will soon have his MSFS. 

I like the CFP more.

[/quote]

You MUST be kidding.  The CFP is basic financial services education...junior/senior year college level...at best.  The MSFS is a guaduate degree.

If you re referring to the MSFS from TAC...the CFP is not even on the same plateau...forget same level.

I have both the CFP and a Masters Degree...and a number of other degrees and designations...I "like" my motorcycle license the best...

blarmston, rightway, thank you for your posts.

[quote=FinclPlngPro][quote=bankrep1]

I have my CFP and will soon have his MSFS. 

I like the CFP more.

[/quote]

You MUST be kidding.  The CFP is basic financial services education...junior/senior year college level...at best.  The MSFS is a guaduate degree.

If you re referring to the MSFS from TAC...the CFP is not even on the same plateau...forget same level.

I have both the CFP and a Masters Degree...and a number of other degrees and designations...I "like" my motorcycle license the best...

O.k. here is my honst opinion. The cfp is still only a designation and in no way is it equal to actually attending classes at a graduate level for 2 years every day, and then defending a thesis. Keep in mind one needs an undergraduate degree to even get accepted into a masters program.

Up until this year anyone could have sat for the cfp designation if you had 3yrs in the biz including a high school dropout. Again, it is not even close to a masters degree. It's an online designation. That's all it is.

Also keep in mind the public doesn't even know what it is. If you're not dealing with 2 mill clients everyday you don't need it. Waste of time, and only a designation. It's also not even close to a CPA. It's a designation that high school graduates use to stroke themselves.

See ya............................

"rightway isn’t indy he’s at a wire…think he’s involved in the management team at his branch in addition to production."



I run the POA program for a couple of offices as well as run a 4-rep team.  Joe- come join us, we are paying well!

EZ,

I like the CFP because of what it stands for and where it's going.  One day it will distinguish a true professional from someone with a series 6, I agree that it does not have the recognition that it deserves today.  Hopefully one day soon it is widely accepted just like the CPA is, the problem is all these cracker jack designations, it's hard to distinguish what took real effort and what someone paid for.

[quote=rightway]"rightway isn't indy he's at a wire...think he's involved in the management team at his branch in addition to production."

I run the POA program for a couple of offices as well as run a 4-rep team.  Joe- come join us, we are paying well!
[/quote]

Thanks my friend, but you can't possibly pay me as well as what I earn as an owner of my own business.  Too, perhaps more importantly, I really enjoy my freedom. ;-)

Bankrep,

You're correct there are too many designation which seems to waterdown even the best of designations such as a cfp.  I will also add in my opinion that the cfp organization has really done a lousy job of marketing the designation to the public, hence very little awareness.

I would make the effort of getting one if I had prospects coming in everyday asking me if I had a cfp. The fact I don't. Until then I'll wait and see where this is all going and when I see it's a worthwhile venture I'll tak ethe time to sit for it. However; as it stands with what little marketing /public awareness I've seen for the cfp designation, I'll wait.

btw I have a 7 and 66.

Cmon JoeDaMan… Rightway, you , and I could form a powerhouse team at Merrill and take over the brokerage world… Doing gross of 8-10MM a year while managing about 8 billion… Of course, we would have 15 staff to hold down the fort while we are off golfing and attending the finest nightclubs worldwide…

[quote=blarmston]Cmon JoeDaMan.... Rightway, you , and I could form a powerhouse team at Merrill and take over the brokerage world.... Doing gross of 8-10MM a year while managing about 8 billion.... Of course, we would have 15 staff to hold down the fort while we are off golfing and attending the finest nightclubs worldwide.........[/quote]

lol...that sounds like a lot of fun! 

[quote=joedabrkr]

[quote=blarmston]Cmon JoeDaMan… Rightway, you
, and I could form a powerhouse team at Merrill and take over the
brokerage world… Doing gross of 8-10MM a year while managing about 8
billion… Of course, we would have 15 staff to hold down the fort
while we are off golfing and attending the finest nightclubs
worldwide…[/quote]

lol...that sounds like a lot of fun! 

[quote=rightway] [quote=joedabrkr]

[quote=blarmston]Cmon JoeDaMan.... Rightway, you , and I could form a powerhouse team at Merrill and take over the brokerage world.... Doing gross of 8-10MM a year while managing about 8 billion.... Of course, we would have 15 staff to hold down the fort while we are off golfing and attending the finest nightclubs worldwide.........[/quote]

lol...that sounds like a lot of fun! 

[/quote]

"Attending"??  No we will partner with Joe and "Own" the nightclubs.  One, of course, will be a Gentlemens Club so we can have the very best Caddys for our annual Golf Outing.  Ahhhh I can see it in lights:

BlarmyJoeWay's Nightclub  COme tonight for the finest Portfolio Review...
[/quote]

lol...I like the way you guys think.

you know as an interim step you can always become a shareholder in RICK.  I have a copy of the prospectus from their IPO.  Pretty darn funny!

Love it when a plan comes together… Now I’m off to the bar (located next to the beach and its 68 and sunny in SD today) to watch my beloved UCONN Huskies move one step closer to cutting down nets in April…  Cheers.

[quote=blarmston]Love it when a plan comes together… Now I’m off to
the bar (located next to the beach and its 68 and sunny in SD today) to
watch my beloved UCONN Huskies move one step closer to cutting down
nets in April…  Cheers.[/quote



I love this business.  Blarmy is a Rookie probably making more
money than 99% of his Buds from college…yet he is just beginning and
so far from saisfied its not even funny.  Joe is making far too
much and loving his independence to the point where he is turning down
the weekly 7 digit offers he gets form the wires. 



We all have diferent ways of getting it done, but in the end, those
that are real good offer a great and noble service to the public and
are rewarded for it with a great lifestyle that will last.  If
that is not a reason for highly ethical and motivated people to get in
this business I don’t know what is. 

[quote=rightway][quote=blarmston]Love it when a plan comes together... Now I'm off to the bar (located next to the beach and its 68 and sunny in SD today) to watch my beloved UCONN Huskies move one step closer to cutting down nets in April....  Cheers.[/quote

I love this business.  Blarmy is a Rookie probably making more money than 99% of his Buds from college...yet he is just beginning and so far from saisfied its not even funny.  Joe is making far too much and loving his independence to the point where he is turning down the weekly 7 digit offers he gets form the wires. 

We all have diferent ways of getting it done, but in the end, those that are real good offer a great and noble service to the public and are rewarded for it with a great lifestyle that will last.  If that is not a reason for highly ethical and motivated people to get in this business I don't know what is. 
[/quote]

rofl @ "making far too much" and "7-digit offers".  then again, honestly I AM happy enough that I WOULD likely turn down offers.  Not meaning that to gloat, each flavor of the biz has it's advantages.  Just that I've found my niche and am very happy.

Yep Righty you sorta hit the nail on the head!

Joe,

What was the aum that you took with you indy?

[quote=ezmoney]

Joe,

What was the aum that you took with you indy?

[/quote]

About 12.5 out of 24 so far with more coming...and lots of new referrals too!

But understand that 5 weeks after I left my firm I also moved half-way across the country.  Too, I did all my admin work myself because I knew I was moving.  So my story is hardly typical.

Hey blarm...here's where we should have our first partnership meeting!

http://registeredrep.com/news/Publicly_Traded_Strip_Club_to_ Wall_Street/

Haha… I like that… Lets get moving on setting that up…

[quote=ezmoney]

c'mon bankrep a cfp minimum? Give me a break! None of us need a cfp unless we are all coming across clients with over 2mill all the time.

A cfp=Joke I said that before and I'll say it again. don't waste your time rookies. A cfp is for pikers without a real degree.

[/quote]

AGREED.  One of the biggest brokers does not have CFP or BA.  They are just good with people

I bet I make more $ than both of you combined. 

[quote=bankrep1]

I bet I make more $ than both of you combined. 

[/quote]

My dad can beat up your dad!

Joe I am laughing all the way to the bank.