Natural order for this career? Primerica, Jones, bank, wire, indy?

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Sep 14, 2010 10:25 am

is that about right?  We could probably do without Primerica, but you get the idea...

I'm trying to visualize, please help.


Sep 14, 2010 10:36 am

I don't think there is a typical route.  Generally it depends on where you start and where you figure out you want to end.  For a lot of folks the end game iis somewhere like LPL or Raymond James.  For others it's whatever wirehouse will cut you the biggest check for moving to their firm.  Here's a few of what we normally see:

Regional (Jones) - Indy/RIA

Wirehouse - Indy/RIA

Regional - Bank

Bank - Indy/RIA

Waddell & Reed - McDonalds - Primerica - Taco Bell - Jones - Bank - Wirehouse - McDonalds

A lot of guys pick one spot and stay for their entire career.  Others jump around every few years.  I'd say most folks don't really want to move around all that often because everytime you do, you lose some of your book.  Indy has become a very popular option over the past decade or so.  Better payout, more choices, no branch manager, no sales quotas, etc are all reasons guys are moving.  

I agree that we don't need Primerica.   

Sep 14, 2010 11:30 am

I agree with what Spiff said.  Don't go into it thinking you're going to make all kinds of moves.  Moves are painful for you and your clients.  Try your best to identify where you want to end up, and see if there is a way to get there now and "make it".  I read an interesting article in one of the industry rags not long ago that indicated that simply staying put with one firm for a long time was one of the single biggest contributors to your success, regardless of what firm or channel you choose.  The exception might be the bank channel, as there are many banks that will routinely chagne the game on you if you appear to be making too much coin.  This would not be the case if you were an independant contractor arm of the bank (i.e. an LPL advisor in-branch).

Sep 14, 2010 6:09 pm

I hope Bob Bagby burns in hell.