I’ve only worked for one boutique firm and to answer your question about benefits - it varies greatly.  The one at worked at didn’t have a matching 401k (but still a 401k), but they made up for it with large bonuses and excellent healthcare - and higher salary.  I woman I worked with came from another boutique firm who had great benefits (they even offered to pay 100% for her college), but that was at the cost of working for the world’s biggest Asshole owner.

[quote=njnewbie]

I know its kind of a vague question, but I’ll ask anyway so I’ll expect to be flamed …Can someone tell me what to expect as an equities trader?  I’ve got an opportunity with a boutique.  I’ve never been in securities professionally and they want me to get my 7 and 63, and 66.  I can probably pass the 7 right now so I’m not that worried, but I’m wondering what to expect.  They told me that for the most part I will be handling in-house accounts and maintaining those relationships.  Accounts are inherited by company turnover in employees. 

Ok.  I guess you didn’t read very well the first time.

You don’t need to take the 63 and 66 - a boutique firm should know this, which is why you did some internet research and came up with the wrong conclusion.  The 66 is the 63 and 65 combined.

An equities trader generally does not work with clients and boutique firms don’t hire a whole lot of them. 

Real estate sales and securities sales are two completely different animals.  Your “sales skills” will need to be adapted and unless they have a training program, you’ll be learning on the fly, and those numbers are inflated to get you to come work there.

I told you that you should ask them about benefits.  What kind of sense does it make to come ask a board full of complete strangers if the “boutique firm” you are thinking about working at will provide benefits.  Because in their experience a lot of them do?  Or don’t?  Why would that have any bearing on your situation?  Boutique firms are by nature unique.

I’d go out on a limb and say you don’t have a good chance if you don’t know the difference between an equities trader and a financial advisor or that the 66 is a combined form of the 65 and 63.

Once again, you are full of sh1t.  And as for why I am responding?  I am amusing myself as I sit in my free-from-Edward Jones independent office. 

I believe you are the one unemployed, who fell for a ponzi scheme.  Correct?

Yes, I am the same guy who fell for the scheme, but that doesn’t make me a bum… For the sake of this post and to correct myself, I texted a friend of mine and he said I will only need my 7 and 63, not the 66 which was my mistake.  I don’t know why the 66 was in my mind.  I’m new man…I have a possible opportunity and wanted feedback from a board, which may have been my mistake.  I know my decision is to go forward but I was looking for things to expect.  Sure I understand I may fall flat but I can outwork most people so I have to take my shot.  Thanks for calling me out though.  Just looking for opinions, I guess in teh wrong place

You’d have known you didn’t need the 66 if you read my answer to your other thread on the same topic 2 days ago…why did you start a new one?  If you say your title will be “equity trader”, how do you expect to get commissions?  By having the best ratio of mistake-free equity trades?? You’ve barely been given an offer and just now asked them what you’ll get paid you and you’re telling us you’ve ALREADY read the series 7 book and taken practice tests??? 

…and Jethro wanted to be a brain surgeon.

[quote=njnewbie]

I know its kind of a vague question, but I'll ask anyway so I'll expect to be flamed ....Can someone tell me what to expect as an equities trader?  I've got an opportunity with a boutique.  I've never been in securities professionally and they want me to get my 7 and 63, and 66.  I can probably pass the 7 right now so I'm not that worried, but I'm wondering what to expect.  They told me that for the most part I will be handling in-house accounts and maintaining those relationships.  Accounts are inherited by company turnover in employees. 

I know FA's are called by alot of different names... but never heard as being called and Equity Trader. In fact. the first 3 years, you dont even have to know anything about the stock market. Just building relationships and getting the money in the door.

In fact. the first 3 years, you dont even have to know anything about the stock market. 

seriously though. you can delegate out marketing, management and the markets.

building relationships is all that it is about. i am exagerating on the 3 years, but first 2, yes.

My buddy, the joke was... he didnt know half of what I knew about markets and all, yet at the end of every year, our numbers were tied. why? He didnt care and just went out there and talked to people.