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Jun 22, 2009 3:03 pm

In the process of signing on with one of the major wire houses and am wondering what I will go through. I haven’t received a formal offer yet. Wondering if having to file BK 5 years ago is going to be a big issue. I have not had it come up yet but I’m sure it will when they do a credit check. BK was non related to financial field. I owned a business that was consumer dependent and got hammered after the 2000 crash.

Also wondering if someone can explain what happens with the transition of closing my current stock brokerage account and the transfer to the hiring firm. Do they look at what you have been doing for the past year. I did some pretty risky things for my own account. Made some money, lost some money, not the type of things I would do with clients money, but I would guess it might give the BOM hiring me something to think about.

There are several accounts I have power of attorney over, will they require those to transfer over as well and do they require that they receive copies of the statements. These are for various family members. They are small accounts that a large wire house wouldn’t want, nor would the family members want to pay any fees for management.

Curious and wondering if the BK or the risk taking in my own account could terminate a possible offer.

Jun 22, 2009 3:32 pm

Send me a private message.

Jun 22, 2009 3:38 pm

Shouldn’t you worry about getting hired before you worry about what kind of accounts you should bring over.

Jun 22, 2009 3:50 pm

I believe I am about to get an offer, and I am wondering about these items. Can you give me any insight?


Jun 22, 2009 3:56 pm

They won’t care about your performance in personal accounts…

Jun 22, 2009 4:15 pm

thanks. I know this is all about sales, which I am good at. Any advice on disclosing the BK before I get asked about it?

Jun 22, 2009 4:32 pm

It probably will show up on their credit check. They’ll ask you the circumstances around it, if they want you bad enough it won’t be a make or break issue.

Jun 22, 2009 4:52 pm

Think you have to disclose it for FINRA, so they will know already.

Jun 22, 2009 5:03 pm

Thanks, not sure they want anyone without a book “bad enough”. I just wanted to not have it turn them off early on in the process since I’m trying to break in during extremely difficult times.

Jun 22, 2009 5:08 pm

Jones will ask you 'Tell us about a time when you were faced with a challenge?'
Just respond: I declared bankruptcy.

And if Jones asks you, ‘Tell us a time when you convinced somebody to become a client,’ you can respond, 'Well, I’m working on some family members, but they don’t like to pay for advice.'

Finally, if Jones asks you, ‘Tell us about a time when you had responsibility for money,’ and you can say, 'Well, I bought a bunch of penny stocks and went broke.'

Good luck!

Jun 22, 2009 5:27 pm

hey your a funny guy. How about some constructive help. I’m not a fan of the penny stocks…

Jun 22, 2009 5:31 pm

[quote=optionsfiend]I believe I am about to get an offer, and I am wondering about these items. Can you give me any insight?


When your most recent interview was coming to a close and they asked you “do you have any questions”, that was the time to ask the questions. They know more about their own policies that we do. I think you’re a troll. Either that or a f***ing idiot.