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Jr. Partner or asst.?

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Mar 25, 2006 1:56 pm

Would those of you who have been in the business hire a full time assistant or Jr. partner?  I need help.  I have a part time assistant that I share, but I am bogged down and stressed.  I was thinking of hiring a Jr. partner to see accounts under a certain level.  Looking at my book the 80/20 rule certainly holds true.

What has your experience been?  Please don't answer this question unless you've been through this situation, thanks. 

Mar 25, 2006 2:38 pm


I'm currently an assistant to 1 FA in a banking program.  I have my Series 7/66 & Insurance licenses.

My assistant duties seem to be more of an extension of back-office support tasks than sales oriented tasks.  The advisor "pays" me by taking his pay from 90% of his revenues, instead of 100%.  (10% cut just for having a personal assistant.)

Why have an assistant that YOU are paying for when they're doing more "back-office" tasks that they will do for you anyway?

Now, I'm a different assistant.  I came to the position with the series 7/66.  Most assistants in our program are unlicensed and are sponsored for the series 6/63.  I sell and take appointments - especially the lower dollar amounts.  Why have the advisor take them when I can?

If I were building a practice in a banking environment, and getting "bogged down", I think I would be looking for a Jr. Partner to take some of the lower $ amounts and free up your time on some of the other things that need doing.

If you have the option, I'd be looking for a Jr.

Send me a PM if you have any other questions.