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Jun 12, 2014 3:58 am

Hello Everyone,

I'm in the need of advice.

Making transition back to financial services.


Started with the Equiutable in 1993 right out of college as RR. I did a 4 year stint before washing out at age 25. Loved it but didn't have the network and/or strong client base to sustain. Plus I made a move the South after relationship with girlfriend ended.

Took a position with very high end insurance advisory firm as a corporate account manager. Managed 73 client accounts on a support basis..not a producer. Mostly NQDC, COLI, Split $$, SERP's, etc...I did this for about 5 years.

Since then, I owned a small business in the construction industry for the last 11 years. Somewhat succesful but closed business a few months ago.

I really want to get back in the financial services industry and have been interviewing the past two months. I need advice on direction. I'll give you all some of the details of the companies I talked to:

Morgan Stanley - no response to resume

ML - no response to resume

Wells fargo - no response to resume

Ameriprise - had trouble with the cog exam (keep timing out before getting to the right answer...3 minutes).

Securian Advisors - going back for 2nd interview next week

Waddell & Reed - had third interview today. was told I need to do 3M in 6 months. No hire unless I can convince them of that.

Capstone Financial - three interviews and they now want me to do a MDI and list 200 contacts and do 10 market interviews. No support but highly leverenged payout on Mass Mutual products.

First Investors - job offered and have to let them know by this Friday ($850 bi-weekly and 12.5% commission until I reach 15K in FYC (if done in 6mths then 6K bonus) then off support and full comm around 50%)

21st Century Financial - 2nd interview and 3rd scheduled next week.

I know I'm getting to a point with all these companies where they want to know how many clients I can funnel in immediately through "natural market".

Problem is that the current offer on table needs response by Friday. Tried to push it off to see other possible offers.

Any thoughts would be helpful.

Thanks you

Jun 12, 2014 4:34 pm

Try Edward Jones. If you are presentable, they will hire you; also their standards guarantee you can stay afloat for at least two years, which would be enough to find out if you can make it in this industry.

Jun 12, 2014 9:51 pm

Thanks bah!
Another possible option on table today. Talked to an old associate from past position before starting my company. He’s mid 40 like me and started his own RIA advisory firm about 1.5 years ago. he got his start with NW and been ITB for 20 years. He as 4 guys with him. He does the big life purchase acquisitions, other guy does estate and retirement, other two do invest advisory. All got the designations…he CLU/ChFC, other CFA/CFP, one CFP, and one CFA.
He said that a good option would to get life products through Pinnacle in Florida and possibly run securities through his firm or maybe one like his. His firm works with Pinnacle and his BD is Certus Securities.
Obviously this opportunity is full comm but that doesn’t bother me at all seeing in my own business I sold to make my money. No sales people just me.
Listen, I understand that this business is hard and has a huge failure rate. My hope is that with some direction and really hard work on my end its possible.
At my request I’m going to call him next week for a meet up and possible intro to one of his partners. The conversation was somewhat awkward in a good way because I wasn’t calling him for a job and he didn’t think about bringing someone on board cuz they are just getting going. I think both of us had the wheels
Does anyone know of a similar type business relationship?
If so/or not…I’d be interested in hearing about some talking points to discuss with him next week that may be beneficial for both of us.
Thanks for all your help.

Jun 19, 2014 3:25 pm

I think that if you can get your licenses on your own you can find an indy firm/OSJ to sell your securities and can find a life insurance brokerage (like an Ash) to run your life insurance and annuities.