HELP. I need advice about moving on

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Sep 21, 2009 5:14 pm

Hello Everyone,

  Currently, I am situated in a wirehouse.  I've been in production for 2 years as a sole practitioner.  I've gone through many life changing experiences in the last few months (marriage, etc.)  My wife is traveling 1hr a way to take classes for her MBA.  All our family is located nearby her school and we would like to take advantage of buying homes that are more affordable there & eventually start a family.  I just dont see us doing this in the city I am currently working.  Additionally, in my time here, I have found that this is not the right branch or situation for my development as an FA on many levels.  That said, I am looking to xfer and move into another location internally.   My questions is this:   With the reasons stated above, would these be enough to justify a transfer?  I assume all the money invested in my training will be a sunk cost & perhaps they would like to have a return on investment.  What challenges would my request have (P&L?)  Is there another angle/approach I should consider?  I don't know how transfering of brokers works internally & don't know anywhere else to get advice.   If this helps, here's my situation:   I'm currently ranked the middle of the pack of my class in terms of AUM and production, but I've come to realize that the success/survival rate is much higher by associating with a team or working at a bank.  In fact, my last training session I've found that out of 100 trainees, there's only 30 left.  Of the 30 remainding, 80% are on teams.  Does that garauntee success?  No.  Could this mean that the association of a team indicates that the survival rate in the worse financial era since 1931 will be increased? I say yes.  So I would like to interview for a team position if possible.   My branch is one of the least appreciated areas of the region (for good reason).  There hasn't been a trainee here for many years. Subsequently, I receive little to no personal attention for training at the branch.  Moreover, my mgr is so busy he isn't able to show interest in my success.  I've survived this far b/c I truly work my butt off.  I believe w/ the same effort and the right environment, I can meet my true potential.   My transfer request would make sense on a personal level & business outlined above.   I appreciate all those who have extended their time to read this & offer useful feedback.
Sep 21, 2009 6:38 pm

There are ways to work this out.

The branch manager is going to feel, especially if you are good, 'i just sunk $100,000 + into training this guy, why should i just turn him over to another branch who will then reap the rewards?" But he can make a deal with the branch manager of your new branch, probably sharing gross for a year or two. I've seen this done with big producers, so why couldnt it be done with a relative newbie? Remember, the BM gets paid on the bottom line of their branch. Proceed accordingly. Just ask. If the answer is a flat no, start asking polite questions.
Sep 21, 2009 11:09 pm

[quote=Sportsfreakbob]Proceed accordingly. Just ask. If the answer is a flat no, start asking polite questions.[/quote]

Thank you for your responses.  It’s funny that you bring up the “flat no” answer.  Because I was going through all the possible objections like “your #'s are too low” blah blah blah, but only until a buddy brought it up (and you) I don’t know how to respond to that.

Please tell me, what would be “polite question” out of this flat out no answer?

I don’t want him to put me in a trap of words by asking, “can you absolutely not stay in this office?”  I respond unconvincingly or convincingly, “well…no”  then he responds, “well enjoy your last paycheck b/c there’s no where I can fit you.”