Starting brand new at LPL, any advice?
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.