Just my opinion, i don't want to discourage you.

I struggled with this 10 years ago, when i was 49. I killed myself for 6 years, then went into management. I was making a living, but thought i could make more, and knew i would have to keep busting my arse to grow it to what i wanted to. The world changed, and management was no longer what i signed up for, so i left the big firm i was with and went back into production as an independent advisor. I love the business, and wouldn't have it any other way, making a decent living with a lot of upside.

With that said, i have to admit, at this point, i don't have the energy i used to have, so i try to work smarter instead of harder. A llittle gray hair would be an advantage to you. But you will still have to work 6 days a week, cold call like a lunatic, and do everything else possible to build a business. The salary they pay you only lasts 2 years. Then you are expected to be on your own.

Only you can answer the question. Its a very tough grind, and however long you think it will take to get  to the number you want to earn, tack on 2-3 years more, at least.

But its a great busienss if you can hack it. Last thought - if you are well connected, that will be a big help and it may be easier for you. I was not really connecteed to serious money and had to do it from scratch.

Good luck.

Thanks so much for the reply. I've contacted a rep at Jones and reached out to Raymond James as well. I've read posts discussing working with a big name versus my own firm. The security of a big firm is attractive, but deep in my heart I know that independent is the path I should choose. Being independent would give me the freedom to do what is truly right for the client. Just concerned that it's too late in life to build a business to get to $100K+ income per year.

Which RIA support firms would be best for an advisor with no book?

I do not know anything about RIA opportunities.

I am however, with RJ, so if you have other specific questions, feel free to PM me. Great firm. You would have to join an existing branch however, they wouldn't take you on as an independent branch without a book. And you would be much more on your own, i doubt you would find a branch owner who would pay you a salary while you are building, but you never know.

Like i said, PM me if you want to talk specifics

I would say it depends when you plan on retiring.  If you plan on working until at least 65 I would go for it.

Sportsfreakbob - PM'd you - check your messages - thanks

Segment 4 is $25 grand per month, amounts to $10k gross to you. Yet, how mant seg 4's consistently gross 25k after they move to the new segment? From what I've seen in my region, seg3's at the 5 year mark are starting to get their first div. trip. Still not close to seg4. And they still are hustling to stay at expectations. I really don't think that this is a good choice for a 55+ to start. Too much work for too little payout in the time you have left to work. And one illness will knock you out of the water. But the real question isn't whether or not it can work for you(of course it CAN), but whether you have better choices. Time frame for a 30 something is so much different than a 50 something. And most of these kids just don't understand that, so they can't offer much council.

[quote=2ndLap]

How realistic is it to begin an advisor career at 55? From what I've read 3-4 years of real grind, then get a bit of your life back. Should I just put up w/ my current situation for 5 more years then collect Social Security or start a new career?

[/quote]

forget it.

this job sucks.

its hard as crap

you're too old.   life to short

wait for social security

get a hobby

[quote=2ndLap]

How realistic is it to begin an advisor career at 55? From what I've read 3-4 years of real grind, then get a bit of your life back. Should I just put up w/ my current situation for 5 more years then collect Social Security or start a new career?

[/quote]

You should consider becoming a fee-only RIA.  That way, you can charge fees for financial plans, build your practice a little slower, and not worry about the firm's hurdles.  If income is not a major issue, per se, that's the way to go.  If you NEED to be making 75-100K within a few years, I would think twice.  It will take more like 5 years at least (unless you are real good), and then you will have burned out and be 60+ with few years to recoup the effort put into it. 

But again, if you would be happy making 35-50K your first few years, you should consider fee-only RIA.  Low overhead, write some financial plans, do some investment management, whatever.  Make your own hours.  You could do that a lot longer than working at a brokerage.

[quote=iceco1d]

SHANIA PLEASE COME BACK.  WE LOVE YOU!  YOU KNOW WHERE!!!!! PLLLEEEAAAASSSSEEE!

[/quote]

ice.

sup, my brother.

I got a new motorcycle  BMW 1000rr.   (a BEAST.  193 HP, 405 lbs)

Im having so much fun with it.  enjoying summer.

just taking some time off

hope youre doing good.

tell all the bears to stop jekring themselves off.

I guess with daddy away the bears having a field day with this normal little correction 

tell them to be careful.  daddy will be back.

you wont see under spx 1010.

see ya say hi to all

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