I think that it would be hard to do it part time.  I am not for sure who would give you the ability to do this.  I also think that you have to have an office, because of regulations. 

Great idea, but most likely impossible.

Hey dollarbills, I already have an office. I would not need a company to provide an office because I can provide my own. I do not expect to do it part-time and gain a full-time income from it. I just want to do it 20 hours a week and make whatever it is I would make from that much work.

HDVest comes to mind as a possibility, but if you search around these boards (perhaps use the phrase “part-time” in the search string), I recall that at least one other firm has been recently mentioned as accomodating part-time reps.

Go apply at Primerica.  They are a perfect fit for the part time wannabe advisor.

Seriously though.....

It seems to me that your best bet would be to become a fee(retainer style) only advisor, preparing financial plans and doing "piece work" since most clients that are looking for full service brokerage might expect more accessibility, service and expertise.  Plus charging asset management fees is only appropriate if you are actually doing something to add value to that component, which would generally imply a greater commitment than 20 hours a week. 

You would be entering one of the most competitive industries out there with everybody from the local bank to insurance companies to independents to major brokerages to tax preparers and CPA's elbowing each other to get a piece of the action (not to mention the MLM Primerica guys!).  Also add that this is one of the most complex, changing professions out there and you have a recipe for 40 hours being part time in your first couple years unless you are a dynamo marketer, lucky or well connected.  I spend at least 10 to 15 hours a week reading up on various topics to keep current. 

Like I said, Primerica.

Quest Capital advertises that it allows part-time brokers to work with them. Here’s the website: www.qcwelcome.com . I cannot offer any opinion on them, however.

ask  yourself this question;  would you trust your life savings to a person only working part time? 

I don't think I would trust my money to most of the people on this board so enough said about that. 

Parahost if your registered as an RIA and work on a fee only basis you don't neeed to be affiliated with a Broker/Dealer.  You can charge AUM fees, I believe datalynx has no asset minimum in other words I think the only requirement would be to check with your state securities regulator to register as an RIA probably need the Series 66 and Form ADV.

Otherwise the B/D route will either require you to work for them or have a certain amount of assets to transfer in.

He'd need the series 65 if he doesn't have his series 7.  Series 65 is much harder than the 66.

As far as not trusting any of us to manage your money, I got this great variable annuity where you'd get all your money back if things didn't work out. 

Bankrep hit it right I think - consider setting up as an RIA with you doing it part time I doubt you’ll ever run into the issue of having enough assets to have to go through the additional filing requirements that larger RIAs have to go through.  The trick would then be to find the proper trading platform to utilize but there are many out there.

I once met a guy who worked for a company called HBWinc...I think they have a website.  I think its MLM like Primerica, but not captive...I think you can do it part time with them.

BTW...I don't believe (I am speculating) that the NASD cares how many hours a week you work...as long as you submit a minimum amount of business each year, I don't think you'll be dinged.  I wouldn't go to the trouble of setting up as an RIA for a "part-time" hobby.

Side note:  Anyone else find it a little unsettling that there are folks out there like this guy that think this career can be done "part-time."  Income aside, what about the fiduciary responsibilities of advising people on their life savings????

P/T really isn’t concerning if he has the p/t amount of clients.  In terms of establishing as an RIA it’s not all to difficult or cumbersome when you have less than $25m in AUM. 

[quote=BankFC]

I once met a guy who worked for a company called HBWinc...I think they have a website.  I think its MLM like Primerica, but not captive...I think you can do it part time with them.

BTW...I don't believe (I am speculating) that the NASD cares how many hours a week you work...as long as you submit a minimum amount of business each year, I don't think you'll be dinged.  I wouldn't go to the trouble of setting up as an RIA for a "part-time" hobby.

Side note:  Anyone else find it a little unsettling that there are folks out there like this guy that think this career can be done "part-time."  Income aside, what about the fiduciary responsibilities of advising people on their life savings????

[/quote]

I agree with your comment re "part time".  But that's the widely held perception amongst the public.  Otherwise why would discount brokers and no load funds be so popular?

In all honesty, I find it a bit unsettling that many on this board cannot grasp how someone could do this part-time. If it takes you 70 hours a week to service one client, then I suppose you might be shocked. If, on the other hand, you service many clients, then I would imagine you could see how servicing fewer clients would allow one to do this on a part-time basis and still be educated enough to provide them value. I do believe there is a correlation between clients and time required? I doubt all you work 50 hours a week keeping up with the trade and then 1 hour to service all your clients. So, enough said about me wanting to do this part-time.

My story is that I am 20 and have graduated from college. I have no interest in pursuing a typical after college job at 40 hours a week. Fortunately, I run a business that provides me with a lot of flexibility. I do not want to work on a fee only basis because I do not like the concept of a strict hourly wage, especially when it would only be $50-60 an hour. I have an interest in finance, so I would like motivation to learn more about it, which is why I am wondering what sort of opportunities are available that would not conflict with my business. If I were to take the appropriate tests and register as an RIA, would I be able to charge a management fee (% of assets or % of positive performance) or other such arrangement?

Para

You honestly must not understand the business.  Yes it seems like an easy concept of less clients, less time.  But it takes multiple clients and time to make it worth while.  No one is talking you down because of your desire to do this part time, but everyone and there brother is selling investments.  Also to get started, it takes a considerable amount of time just to prospect people/business to make clients.  Stop being so defensive, remember you asked our OPINION. 

Thanks  

[quote=parahost]

In all honesty, I find it a bit unsettling that many on this board cannot grasp how someone could do this part-time.

Could it be that we understand this business and you don't?

If it takes you 70 hours a week to service one client, then I suppose you might be shocked. If, on the other hand, you service many clients, then I would imagine you could see how servicing fewer clients would allow one to do this on a part-time basis and still be educated enough to provide them value.

Would you let your mom go to a part time oncologist? Surely he'd know enough to provide her some value.

I do believe there is a correlation between clients and time required? I doubt all you work 50 hours a week keeping up with the trade and then 1 hour to service all your clients. So, enough said about me wanting to do this part-time.

My story is that I am 20 and have graduated from college.

Not many people with money are going to do business with a kid.

I have no interest in pursuing a typical after college job at 40 hours a week. Fortunately, I run a business that provides me with a lot of flexibility. I do not want to work on a fee only basis because I do not like the concept of a strict hourly wage, especially when it would only be $50-60 an hour.

All 20 year olds are worth at least $120,000/year.

I have an interest in finance,

This isn't "finance." Maybe, when you turn 21, you'll learn what finance means.

so I would like motivation to learn more about it, which is why I am wondering what sort of opportunities are available that would not conflict with my business.

I don't see how finance would conflict with throwing newspapers in the morning.

If I were to take the appropriate tests and register as an RIA, would I be able to charge a management fee (% of assets or % of positive performance) or other such arrangement?

How would a 20 year old kid, with all the answers, not know the answer to your simple questions?

[quote=parahost]

In all honesty, I find it a bit unsettling that many on this board cannot grasp how someone could do this part-time. If it takes you 70 hours a week to service one client, then I suppose you might be shocked. If, on the other hand, you service many clients, then I would imagine you could see how servicing fewer clients would allow one to do this on a part-time basis and still be educated enough to provide them value. I do believe there is a correlation between clients and time required? I doubt all you work 50 hours a week keeping up with the trade and then 1 hour to service all your clients. So, enough said about me wanting to do this part-time.

My story is that I am 20 and have graduated from college. I have no interest in pursuing a typical after college job at 40 hours a week. Fortunately, I run a business that provides me with a lot of flexibility. I do not want to work on a fee only basis because I do not like the concept of a strict hourly wage, especially when it would only be $50-60 an hour. I have an interest in finance, so I would like motivation to learn more about it, which is why I am wondering what sort of opportunities are available that would not conflict with my business. If I were to take the appropriate tests and register as an RIA, would I be able to charge a management fee (% of assets or % of positive performance) or other such arrangement?

[/quote]

You find it difficult to grasp how some of us cannot understand how you would handle this business part time.

I, meanwhile, understand very easily how a callow, arrogant 20 year old with his ink still drying on his diploma would actually believe that ANYONE with two brain cells would pay a part timer with no experience for investment advice.

Good luck.  Maybe there are enough stupid people with money to make your effort a succesful one!

You guys are really harsh on the kid. Im 26 and started in the
financial rep business for less than a year and insurnace for 2 years.
Its not even a 9-5 thing; its the opposite of part time, its overtime
all the time. I had to give up going out all that time and spending
lots of $ and made other sacrifices. Throw away that stock market
broker “I made it” attitude (its so '90s). What bothers me is that it
seems like everyone wants to be a financial services rep these days and
they really dont know why. Maybe it still sounds cool to be one. lol

The day,

It's always been that way.  The idea of unlimited income is attractive to most people.  Most people start fresh out of college when they would be better off doing something else for 10-20 years then getting into the business.

If I started over I would work at a fund or insurance company for 10 years maybe even something on the floor in chicago or NY.  Then when I was bored I would get into the biz.  Grey hair has so many benefits in this business it is ridiculous.