If you are happy, making a living, why leave.  At an investment firm your commissions go through the grid which murders your earning power. 

  Can't speak for going indy / RIA but you'd be silly to go wire/retail broker IMO.

That’s what I’ve read, that through our B/D I can make more on investments that I could at a wire/inv house.

So I guess would be more about going Indy with someone like Commonwealth, Next, etc…  I love the REIT market…

[quote=voltmoie]If you are happy, making a living, why leave.  At an investment firm your commissions go through the grid which murders your earning power. 

  Can't speak for going indy / RIA but you'd be silly to go wire/retail broker IMO.[/quote]

I’m an “old” guy making an unexpected career change since my current industry has died because of the credit crunch. 

  I did the homework and have boiled it down to a mutual ins co., a wire house, and that place that makes you knock on doors.  My prefernce is to sell investments, not whole life policies... but the ins co says "no prob, you can do that here!"   They may say that, but all benchmarks for production, bonuses, and even the requirement to get your first paycheck, are based on sales of LIFE INSURANCE (first year premiums).   I am very much a rookie, but I have pretty much ruled out the ins co.  My impression is that they know most people don't really want to sell insurance, so they bait us with the sexier, more desirable prospect of being an investment guy too.    Anybody agree?  Disagree?   Now my dilema is which way to go between the other two, which can be boiled down to this... would it be easier to find 5 customers with 100k to invest, or 1 customer with 500k to invest?

[quote=LeaseNoMore] I’m an “old” guy making an unexpected career change since my current industry has died because of the credit crunch.

I did the homework and have boiled it down to a mutual ins co., a wire house, and that place that makes you knock on doors. My prefernce is to sell investments, not whole life policies… but the ins co says “no prob, you can do that here!”



They may say that, but all benchmarks for production, bonuses, and even the requirement to get your first paycheck, are based on sales of LIFE INSURANCE (first year premiums).



I am very much a rookie, but I have pretty much ruled out the ins co. My impression is that they know most people don’t really want to sell insurance, so they bait us with the sexier, more desirable prospect of being an investment guy too.



Anybody agree? Disagree?



Now my dilema is which way to go between the other two, which can be boiled down to this… would it be easier to find 5 customers with 100k to invest, or 1 customer with 500k to invest?[/quote]



Hey I have a client in equipment leasing. He is still kicking ass, although he said next year is going to be rough. He’s one of my biggest, but he could retire today if he wanted to and be fine.



The answer to your question is that it is easier to find more people with 100k to invest. But you would rather have the 500k person. And the longer you are in the business, the “easier” it is to find people with 500k, 1MM, etc. Unless you are Wind. But he’s already cornered the market on being Wind.



Not having worked at a wirehouse, I have no clue what it is like. But your background will appeal more to the Jones clientele, in my opinion. And I believe there is more freedom at Jones than a wire.



Good luck.

Thanks Moraen… You might want to let your leasing buddy know how lucky he is.  Many, many leasing companies (large, small, and in between) have gone away, and more are going everyday.  Problem is… Only GOD qualifies to borrow at a decent rate these days.

  You are probably right about Jones and that might be my best choice.  I'm having trouble imagining myself trick-or-treating in the neighborhood for investment business.  I have tons of previous leasing customers and prospects who actually know me... I'd far prefer to go after them.  I'll be curious to see how Jones reacts to that concept.  Hopefully, it's all about the numbers.