Should I become a Financial Advisor?
I could see myself liking this job but not really loving it. For example, I would enjoy closing deals but I see myself hating to go to work every morning.
If it weren’t for the obscene amount of money I could make (i’m very good at sales) I wouldn’t even consider it. The money compensates me for the time I would rather not be there.
I enjoy reading financial news every day. But this doesn’t really have to do with the job, right? It’s mostly selling or obtaining assets under management.
I have an opportunity to work for ML in 2009. And I’m not sure if I should go through with it…
This’ll be fun to watch…
No, if you dont have a passion for the job you have no business being in it. This is like no other sales job you have ever had or any sales job in general.
Why are you attempting it? What are you leaving and why?
you could still be a good sales person, but a shitty financial advisor. go drive a frito-lay truck instead
[quote=Squash1]Why are you attempting it? What are you leaving and why?[/quote]
I’m not leaving anything. I haven’t had a job in 2 years.
And for the person who said have a passion for… most people don’t have a passion for their job. I’m certain I’d succeed based on previous prospecting and sales experience.
However, not sure if I want to get involved in becoming a FA. Is it worth trying it out for a few months and then decide whether I want to stay or go?
It’s a good thing your head isn’t so big…you’d have a hard time getting into your cubical.
Think about this: many people would trust you with their kids before they trust you with their money. I'm sure there are guys that can sell ice to eskimos that still fail in this industry.Go for it, you’d be awesome!
So, you haven't worked in 2 years but you think wealthy people will trust you with their money? How come you will need to wait until 2009 to join ML? By then they will be McMerril, a joint venture of McDonalds and BoA. Do you have any idea at all what you are talking about? You like to read financial news?! So do the clients! Big deal! I just see a ton of riff raff posts coming in lately, like everyone that has sold knives and vaccums all of the sudden wants to hawk stocks, based on what do they think this is an easy thing to enter into? You say you need to wait until 2009 for ML? I say if you're so good at sales go present the business plan now and start right away, what are you waiting for if people are dying to give you their money? From what I have seen if you're good at sales they will throw anyone against the wall to see if they stick, if you have the polish, if your 2009 plan revolves around a rich uncle or dad getting you a job then that's a whole different story. Good luck "boiler room" (you've got to be kidding, you going to work at JT Marlin too?)I could see myself liking this job but not really loving it. For example, I would enjoy closing deals but I see myself hating to go to work every morning.
If it weren’t for the obscene amount of money I could make (i’m very good at sales) I wouldn’t even consider it. The money compensates me for the time I would rather not be there.
I enjoy reading financial news every day. But this doesn’t really have to do with the job, right? It’s mostly selling or obtaining assets under management.
I have an opportunity to work for ML in 2009. And I’m not sure if I should go through with it…
[quote=BoilerRoom]I could see myself liking this job but not really loving it. For example, I would enjoy closing deals but I see myself hating to go to work every morning.
If it weren’t for the obscene amount of money I could make (i’m very good at sales) I wouldn’t even consider it. The money compensates me for the time I would rather not be there.
I enjoy reading financial news every day. But this doesn’t really have to do with the job, right? It’s mostly selling or obtaining assets under management.
I have an opportunity to work for ML in 2009. And I’m not sure if I should go through with it…
[/quote]
Hello, Troll.
WOW!
Boiler, I am about as new as they come. I have enjoyed a successful 12 year ownership/career in the real estate and mortgage industry. I was fortunate enough to have sold my RE/MTG brokerage before the bust hit. Having said that I was head hunted by a MS branch who came across my name from some of my RE investors who were their clients. I am excited & passionate about this new venture and relish the challenge. I too have well honed sales and prospecting skills but the best salesmen is a distance second to someone who gives a s*it. Since i have not even taken my Series 7 yet my advice as premature as it is would be to look into some other line of work. My 2 cents.You sound perfect for the job. If I were you I would drop a few thousand dollars on nice suits, shoes, a new BMW, and if you do have any flaws…plastic surgery. Without perfect teeth and a perfect nose, you’ll never sell anything. Once all this is done, maybe once a week drop in on the local branches of several B/D’s until one of them hires you. I wouldn’t take the job unless they offer you at least 50 million in assets to start, a personal secreatary, and the nicest office they have available.
Remember, you don't have to gather assets, churning the 50 million book will give you all the income you need. If things don't work out, at least you'll have some cool clothes and a nice car to try to sell off to the the next guy in your area that takes over your office. Good luck. You have the right attitude and I am sure you'll succeed. Don't burn yourself out though. Working more than 3 or 4 hours in the morning before playing a little golf in the afternoon is a fool's game. Don't fall for it.[quote=CreditOnion]You sound perfect for the job. If I were you I would drop a few thousand dollars on nice suits, shoes, a new BMW, and if you do have any flaws…plastic surgery. Without perfect teeth and a perfect nose, you’ll never sell anything. Once all this is done, maybe once a week drop in on the local branches of several B/D’s until one of them hires you. I wouldn’t take the job unless they offer you at least 50 million in assets to start, a personal secreatary, and the nicest office they have available.
Remember, you don't have to gather assets, churning the 50 million book will give you all the income you need. If things don't work out, at least you'll have some cool clothes and a nice car to try to sell off to the the next guy in your area that takes over your office. Good luck. You have the right attitude and I am sure you'll succeed. Don't burn yourself out though. Working more than 3 or 4 hours in the morning before playing a little golf in the afternoon is a fool's game. Don't fall for it. [/quote] ...PRICELESS[quote=CreditOnion]You sound perfect for the job. If I were you I would drop a few thousand dollars on nice suits, shoes, a new BMW, and if you do have any flaws…plastic surgery. Without perfect teeth and a perfect nose, you’ll never sell anything. Once all this is done, maybe once a week drop in on the local branches of several B/D’s until one of them hires you. I wouldn’t take the job unless they offer you at least 50 million in assets to start, a personal secreatary, and the nicest office they have available.
Remember, you don't have to gather assets, churning the 50 million book will give you all the income you need. If things don't work out, at least you'll have some cool clothes and a nice car to try to sell off to the the next guy in your area that takes over your office. Good luck. You have the right attitude and I am sure you'll succeed. Don't burn yourself out though. Working more than 3 or 4 hours in the morning before playing a little golf in the afternoon is a fool's game. Don't fall for it. [/quote] CO, you made milk come out of my nose. It burns, it burns....BoilerRoom, you're more arrogant than that asshole RickRoss. Oh, wait a second...
[quote=CreditOnion]You sound perfect for the job. If I were you I would drop a few thousand dollars on nice suits, shoes, a new BMW, and if you do have any flaws…plastic surgery. Without perfect teeth and a perfect nose, you’ll never sell anything. Once all this is done, maybe once a week drop in on the local branches of several B/D’s until one of them hires you. I wouldn’t take the job unless they offer you at least 50 million in assets to start, a personal secreatary, and the nicest office they have available.
Remember, you don't have to gather assets, churning the 50 million book will give you all the income you need. If things don't work out, at least you'll have some cool clothes and a nice car to try to sell off to the the next guy in your area that takes over your office. Good luck. You have the right attitude and I am sure you'll succeed. Don't burn yourself out though. Working more than 3 or 4 hours in the morning before playing a little golf in the afternoon is a fool's game. Don't fall for it. [/quote]In other words, Fuggedaboutit
So you can sell old AMC Gremlins to kids or tin to old ladies? Good luck.
And don’t forget to wear your best polyester suit. LOL
Let’s take arrogance out of the equation. I will do well - I already have AUM if I decide to join and I can take several previous (very wealthy) clients I had and that I still keep in touch with (i have a trading background and worked for a prestigious firm).
So let’s take whether or not I would do well out of the equation.
I know perhaps this is more a philosophical question and I don’t intend to flame you guys for what you guys do.
I am simply asking if I should try it for a few months and then decide if I like it. It seems quite meaningless to call and get AUM. Not really doing much for the world or creating something new. I want to know if it’s worth it just for the money? How many hours a week? Do you dread going in the office in the morning? Do you LOVE your job? Why? Why did you choose to do this over the million other things you could do? Is this something you wanted to do or just fell in your lap? The answers to these questions is what I’m interested in.
The answers to your subject/verb agreement is what I’m interested in.
This'll be fun to watch, further.Should you try it for a few months? What are you gonna tell your swinging dick clients 6 months from now when you bail on them after telling them you’ll be with them til retirement? You think this is a game? I think this guy is Aleksey Vayner. If you don’t know who that is, google him.
Random thoughts:
A very succesful FA once told me that this job is only worth it if you are making serious coin.
At Jones, you see FAs who can’t wait to make general partner and go to St. Louis so they never again have to do another own-loan presentation to some high school dropout with a rollover.
How many 65-year-old FAs do you know – most of them quit or die before then.
Lastly, who cares if you let your clients down. The industry dropout rate is 40 percent – you think the firms care about all the clients who get stiffed by the dropouts.
[quote=BoilerRoom]Let’s take arrogance out of the equation. I will do well - I already have AUM if I decide to join and I can take several previous (very wealthy) clients I had and that I still keep in touch with (i have a trading background and worked for a prestigious firm).
So let’s take whether or not I would do well out of the equation.
I know perhaps this is more a philosophical question and I don't intend to flame you guys for what you guys do.
I am simply asking if I should try it for a few months and then decide if I like it. It seems quite meaningless to call and get AUM. Not really doing much for the world or creating something new. I believe we have the next Nobel prize winner in economics here. He may change the world without ever making a phone call or gathering assets. His book will change the financial services industry forever. Put me down for the first edition. I want to know if it's worth it just for the money? How many hours a week? Do you dread going in the office in the morning? Do you LOVE your job? Why? Why did you choose to do this over the million other things you could do? Is this something you wanted to do or just fell in your lap? The answers to these questions is what I'm interested in. It is not the money!! Most of us put in trades pro bono. We just want to make our clients happy...making a living is not important. Remember that those wealthy clients will pay your bills. I love coming in to the office. My wife wont make me coffee but my secretary will ( and she makes sure I have a warm danish next to my call list). I wanted to do something that benefitted humanity and thought that I was. I guess, according to you, I am just waiting to become worm food. That's all I got??
[/quote]
Why haven’t you worked in 2 years? And if you have “several previous(very wealthy) clients” why the hell would they go with you after you have been doing nothing for 2 years.
I think your "prospective clients" may be dumber than youWell, I got the call back for Round #2. Here’s my problem. I was basically told prior to coming in for a second interview (if I was selected for one), I needed to have a specific target market with specific prospecting methods I would use to get in front of those people.
I haven't heard anything in a week, and didn't really "do my homework" to try to figure that part out. I either decline and move on, or try to hustle and come up with something quick to give me a shot at getting an offer. Helpful Thoughts?lmfao @ the people who wasted their time giving this guy advice.
this is the greatest post ive ever seen. “smokescreen agent” your comments are hilarious…“jt marlen” and as for boiler room. you said earlier that you were planning on getting into financial services so how would you already have aum and have worked for a prestigous firm? by the way,…knowing wealthy people and getting wealthy people to trust you with their money is completely different. you have completely disrespected everyone who actually bust their ass to make money. this is a tough industry even when your really good and know a lot of high net worth clients, your making it seem cuz your a good salesperson then you will kill it. thats not how it works. how did you get by the last couple years if you havent had a job for 2 years. considering that most compensation structures are changing now a days along with the fact that todays market has made most clients very jumpy when it comes to their dwindling portfolios, you think your going to be able to just come in and kill it cuz ur a good salesperson? if you can, then great, but stop talking about something you obviously have no idea about. you are going to have to work at least 50 hours a week and have some sort of idea on how to attract clients after you burn through friends and family. good luck lol
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