[quote=Rocker77]I am currently a college senior majoring in business and have a father who has been an FA for about 30 years now.  He has offered me a spot in his office to come work with him after I graduate.  He does very well at it and manages his branch so he has the ability to bring me in and show me the ropes. 

Hi Rocker77,

Did you see my thread titled ‘Cold Feet’.  I would love to be in your shoes.  Why are you even hesitating? 

I am about 99% sure about taking it.  I was just curious about how much of an advantage my situation would give me.  I mean, at the end of the day I still have to sell, he can’t sell for me.  Plus he’s at the point where he doesn’t do much prospecting anymore so I don’t know that he is up to date on the current methods.

No. Go out and work for someone else for at least a year or two. We all made and make mistakes, a lot of them (still) have to do with growing up. I sincerely hope my son joins me after college, and I also hope he goes out and works for a Fortune 500 firm for a few years, or a small company, to get some perspective. Let someone pay you to learn, travel, learn how to run an expense account, have some adventures, see the world. Then come into the business. You are smart to ask other people in the business, you will be successful.

Walking9 makes a valuable comment about seeing the " other " side. Not a bad idea to learn , be trained and gain experience with another company or industry. Gives you a much better and broader perspective of the workings of business. You will not regret the experience.

This is a tough industry to start in, live in, and survive in.  That is why the strongest survive, which I think is somewhere around 1 in 10, 5 years out of the gate.   Take this golden opportunity by the horns.  Feel no shame in thinking this is a handout.  Nearly every office out there has a family member or two in it.  Just work hard and don’t ride on dad’s coat tails.  You will have enemies in every office that has more than 2 people in it, whether family or not. It should be an easier transition for your dad’s clients when you take over for him someday, knowing you dad has trained your mind to work like his.  If you don’t take it, let me know because I will…

[quote=Rocker77] Will it make it much easier than it would be if I had no connections at all?  

This is a tough industry to start in, live in, and survive in.  That is why the strongest survive, which I think is somewhere around 1 in 10, 5 years out of the gate.   Take this golden opportunity by the horns.  Feel no shame in thinking this is a handout.  Nearly every office out there has a family member or two in it.  Just work hard and don’t ride on dad’s coat tails.  You will have enemies in every office that has more than 2 people in it, whether family or not. It should be an easier transition for your dad’s clients when you take over for him someday, knowing you dad has trained your mind to work like his.  If you don’t take it, let me know because I will…

I’m with Walking9 on this one.  Don’t take the job.  Go to an insurance company that accepts brokered business.  After you learn to sell, you can go with dad.   You need to get perspectives other than your dad’s.  Come to the business with the ability to add value to it. 

go with dad. he’ll teach you all you need to know. You’ll experience all you need to experience. piece of cake.

I really appreciate everyone taking the time to post.  I am pretty much set on taking this opportunity as I feel it is by far my best shot at making it in this type of career.  The firm is one of the regional firms (one with three names) and I hope to work in my dad's office for maybe a few years while I am learning the trade and then hope to move to either NYC or Philly.

Could be a bad decision, but before your premature death you should still consider  trying to work for somebody else in the mean time. It will be the opportunity of a lifetime. You’ll have better selling skills, emotional maturity, perception - things that are kind of desirable  - if you check out the wider world. Dad can and will wait, I  know, I’m Dad and I’m  waiting.

Smoke,

Ever hear of Zacks Rank Strategy?  One of the most successful all-cap separate account managers.  Family business.

Don’t knock the family stuff as “daddy taking care of no-talent kids.” 

Would you take care of your kid if he was a spineless, lazy, know-nothing?  I mean, you might. 

I wouldn’t put my kids in this industry if that were the case.  

So I ordered the book “Pass the 7” by Walker and I got the STC materials since I plan on taking my exams in a few months.  Do you guys think that Walker’s book is enough to pass the test?

Dear Rocker77:

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My take as a third generation broker is take ever hand up and out that you can. When my father started my grandfather help him into business, but he had to start at the very bottom, like the mail room. When my father became a broker my grandfather helped him with the market how to handle clients. My father inherited most of my grandfather’s book of business when my grandfather passed away. When I started I worked out of a different office, but same firm as my father. I wanted to make it on my own. I used my father as a resource about the market and how to handle clients, but that was it. My father told me I was being an IDIOT. When he retired, his partner got the majority of his book. This was only right. His partner deserved the majority of his book. My father wanted to give me around 10% of his book of business. The portion I got was very small less then 2% of his book because of office politics, his office manager did not want to loss branch assets and would not allow then to transfer all the assets to me that my father wished. This would not have happen if I had been working out of the same branch. I would have ended up with a much larger book. If had it to do over again I would move and work out of my father’s office for a couple of years. Do not do what I did; TAKE THE HAND UP, TAKE THE BOOK OF BUSINESS. This business is hard enough even with a hand up, do not be an IDIOT take all the help you can get.

JackBlack

If you don’t take it call me and I’ll come work for you dad. You will regret it if you don’t take it.

Does the saying “Never look a gift horse in the mouth” ring a bell?  Dude!  YOU HAVE TO TAKE IT!!  It sounds like you are so best of luck to you.  I’m putting your odds of success at 2 to 1.  Safe bet if you go with Dad, if you don’t your odds are 50 to 1 or worse! 

Why do bank FA's get ripped ? Because supposedly they don't have to prospect as much and it is easier. Isn't a family handout the same thing ? Most of you supporting going with a family member rip on bank FA's. No ?