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Am I crazy, wanting to be a FA in the desert?

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Sep 27, 2011 4:37 pm

Not sure if  I am crazy or not. Have a job opportunity for a major wirehouse in Las Vegas. Live there now, with a good job traveling, am from CA orignally and have wealth connections in both cities, more in CA. I know how broke and desperate the people are here. There would be a salary cut, if i didnt make it. I know I could raise 2-3 million pretty easy. Went to school here and just relocated back after 4 years, have a MBA. I am just fearful in six months I would be looking for a way out?

Any Advice.

Plus-two lover in Las Vegas

Sep 28, 2011 1:53 am

$2-3m would be minimum for a year (if all fee-based).
Call your wealthy connections and ask them if they would do business with you. Tell them you are looking to make a decision that will affect your family and life. You need to know now if they would do business with you or not. I did not do this and was disappointed when I did not get business from people I’ve known my whole life.
The question is what do you do when that well runs dry? How will you bring in clients?

Sep 28, 2011 7:05 pm

I wouldn't rely on family and friends.  From my experience, even if they believe in you, the people close to you want to see you prove yourself first before turning over their assets.  I would recommend you learn the ropes with cold calling and prospecting strangers before you hit up your personal contacts.  Maybe some of them will get on board right away, or give you a portion, but regardless you'll have to prospect at some point to make it in this business.

Dec 21, 2011 5:14 pm

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