Yes but you can't hold back... Also if by end of year 2 it isn't happening choose something else before you destroy your credit, life etc...

Extremely difficult.  Not too long ago, I was in the same situation as you.  I went to a wirehouse.  I lasted 1.5 years.  Failed.  Recently learned there are other ways to go about it, by inheriting books of business.  That's the route I'm currently pursuing.  Should have an offer in hand, actually, in the next 3 hours. 

Anyway, best of luck to you!

rickross I am starting to question your intelligence and wondering if that is why you failed. Your are deciding between a bank with a role as a serious advisor.... Or the primerica of 403b land...that decision should have taken you 3 seconds..

other dude... I would look at wells fargo or other regionals..rbc, jms, stifel...wont be as bad as the  regular 3 (ubs, mssb and bac)

@ Ross  - What do you mean by inheriting books.  do you apply for a job as a back office person and wait until the advisor retires, dies, etc?   That could be forever!!!   I don't understand what you mean by that.

He means bank broker.. Or going to VALIC.. but he is wrong because in both cases you don't own the book. And with valic they can decided to trim the amount of your book at any time

Some banks participate in the broker protocol, so you could move your book???? According to the protocol list Wells participates, but there might be strings differentiating different lines of business.

Since the comment of squash2 was completely ignorant, I won't respond to his inaccurate statement. 

For those that actually use the forum for productive reasons and attempt to be sincere and act with respect, I'll continue my comments.  When I said inherit a book, yes, I am talking about VALIC.  They focus primarily on the 403(b) market in the K-12 segment.  You inherit different groups to work with, providing you with participants that already have relationships with the company, or that have reason to, and you can work those relationships to uncover other assets. 

I do not intend to own the book, nor would I own the book at most banks, including JP Morgan Chase.  That's true, that a territory might be cut.  That's also true in sales roles in other industries, such as an Account Management/Account Sales role.  That's part of the deal as a W-2 working for the man.  Sure, you could go the wirehouse route and possibly "own the book," but if/when you do leave to go independent (if that's what you choose to do), are you really going to bring 100% of your book with you or are you actually going to be giving yourself a haircut?   Might work out for some, but not all. 

I'd rather be given a book to work and be able to help people and still make good money rather than have to spend the majority of time cold calling and not being able to use my knowledge that apparently I do not have according to a person that chose to name themselves after an item that appears in my toilet bowl. 

I had a friend who worked for VALIC..So i speak from experience... They gave the guy the same promises as you.. Until one day they decided to tank a chunk of his territory and give it to a new guy, then the process repeated and repeated until that "book" they gave him was dwindle down...

Prospecting may suck, but when you go out and build something (wire,edj, indy, ria, bank) They aren't going to come back at you in 2 years and say. "well we are splitting your book in half and giving it to a new guy we want to hire"...

I have never in my life heard someone say "Hey do you think as a $1M producer I could transfer to VALIC?"

Ok the intelligence thing was a little harsh, but anytime there is a guarantee......

@ Diddymoney

just wanted to add that it can be done, not to say it will be easy. but if you have the discipline, ambition and beleive in running your own business. The first few years is tough, working seven days some maybe 8-9 but it wil definitely pay off in the long run. I am a newbie but others in my office who are a bit more established only work 3 days a week and make well over 400k. So it can be done it's just not easy. someone on this forum once said if it were easy everyone would be an advisor. You have to ask yourself can I really live the rest of my life knowing what I'm going to make next year.

True, if someone is hard-working, talented, or down right lucky enough (depending on the situation) to become a $1MM producer, great.  At that point, most would say "they've made it."  Of course they wouldn't want to give up what they've gained by working so hard to go work for somebody else and give up discretion over how many assets they have under management.

On the other hand, if you've tried the wirehouse route and it just didn't work out and you're looking for a place to get more experience in this business and still have a passion for it but you don't have a book, I don't think you're really losing anything by going to a company like VALIC.  Again, completely different situation.  For me, it makes sense.

[quote=RickRoss]

True, if someone is hard-working, talented, or down right lucky enough (depending on the situation) to become a $1MM producer, great.  At that point, most would say "they've made it."  Of course they wouldn't want to give up what they've gained by working so hard to go work for somebody else and give up discretion over how many assets they have under management.

On the other hand, if you've tried the wirehouse route and it just didn't work out and you're looking for a place to get more experience in this business I don't think you gain experience pushing proprietary products and VAs on teachers in lounges...and still have a passion for it but you don't have a book,I think a bank would be great place to go.. even if not big name bank but smaller regionals... I don't think you're really losing anything by going to a company like VALIC.Time because none of those people can follow you(proprietary locked in products) and it sounds like you are trying to use this choice as a stepping stone... I would have looked at Regional banks and Regional brokerage teams to gain more experience..  Again, completely different situation.  For me, it makes sense.

[/quote]

Love how squash is so helpful, don't you?

[quote=RickRoss]Love how squash is so helpful, don't you?[/quote]

I agree Squash is a dick most of the time but he gave you more help than you realize.

[quote=squash2] I would have looked at Regional banks and Regional brokerage teams to gain more experience.. [/quote]

If you can prospect find an indy shop or start your own. If you can't prospect go to a community bank or credit union. Anywhere else and you are going to have to make this same decision again later down the road.

True, but my decision has already been made.  I just need to now focus on rolling with the punches and create a good opportunity for myself.  I think a lot has to do with the people you work with and work for, especially with a position such as the one I've accepted.  Having said that, I'm still feeling really good about it.  That might be sound advice, but it's now irrelevant.  Maybe you're right, maybe I will have to make that decision down the road.  I need to focus on today.

Exactly. One day down the road you will make that decision again. Build what you can with what you got in anticipation for that day and you will do fine. Good luck with your new endeavor.

If a sh#tty bank, gives you a tiny book, in a small cluster, some folks here think that is a "good deal". 

Hardly....

RR, you are clearly better off taking the Valic deal in this case. You have two choices, and that is the best of the two. Valic is NOT the best job in the field possibly, but that wasn't even the conundrum folks. 

[quote=MLGONELOVESDIK]

Squash is a douchebag. So is MLGONE.

[/quote]

troll...

Anyway, I'm about to embark on a similar journey.  I'm talking with ML and EJ...I wish you luck.

thank you all for your comments.