Personal Banker to start

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May 25, 2008 10:28 pm

Does anyone have any insight, advantages or disadvantages to starting out at a bank such as Chase or Bank of America as a personal banker vs. a wirehouse such as ML, or UBS as a FA trainee?  How quickly can someone become a FA at a bank if you start out as a personal banker?

May 26, 2008 2:02 am

Thats where I started and I wish I wouldnt have.  The reason is that you have many other “hats” you have to wear working as a PB.  If you want to be an FA dont start out as a PB.  The banks like to drag their feet with getting you the licenses and make it really hard for you to focus on your investment business while a PB.  The only advantage I can think of is that you are sitting on the assets working at a bank…

May 27, 2008 9:37 pm

Isn’t sitting on the assets the hardest thing to get?  Why not deal with the other issues as a PB, but have access to the assets and build relationships that way?  And move on to a FA in a couple of years?  Just looking for others ideas.