Starting brand new at LPL, any advice?

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Dec 7, 2014 12:38 am

Hello- Earlier on in the year I was planning on joining a friend of mine at LPL, and starting from scratch to build my own book of relationships.  I felt like I needed more runway capital so I've saved and saved and saved.  Here are the facts?

1.  Zero clients, but I would have a million dollar producer as a mentor. 
2.  Work out of the office rent free and access to assistant.  
3.  90% payout. 
4.  I have 7 years of investment experience.  3 as an advisor and 4 as a wholesaler.  
5.  I have two small children and a stay at home wife who depend on me. 
6.  Monthly expenses are 4300 dollars
I've managed to save up two years of living expenses, which I think is adequate.  However I would like to know from you experienced advisors if this is enough time to build a book of business that would sustain our lifestyle.  Thank you.