Whats the turnover in Registered Rep business?
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If you only look at the people who do what needs to be done on a daily basis, I'm convinced that almost 100% of them will succeed. Those without natural sales skills or a great market will need to make sure that they learn what they are doing before they run out of cash.This doesn’t sound at all thrilling…
Its a job Yum, do it and don’t overthink it, you will be fine. Keep trucking along. I’ve seen the biggest idiots turned super successful advisors. It all lies with being to stupid to quit. Just do what Jones tells you to do and do it 110% if you suck or do it 15% if you are a natural and have a bit of luck (ie volt) and you will be just fine and end up making more than you could ever need. But the bottom line is suck your lower lip back in and just get out there and talk to people and help them. Pretty simple, easy and dare I say fun if you make it such. All lies with the 6 inches between your ears and what you are telling yourself.
It’s totally anecdotal but I am past Eval/Grad for a couple of months more than a year now and here’s how our class has done so far:
* 14 in class at Eval Grad (100% had returned from KYC and I’m told that’s better than avg.)
* 1 dropped out pre-PDP, and a couple were delayed coming back in. So 11 made it to PDP without a delay.
* At the one-year mark, 3 of the 14 have made it to Seg 2, 5 are now gone, 6 still in Seg 1.
So we had a 36% fail rate in a year, 21% up to Seg 2 (is that the 80/20 rule at work?), and a group still up in the air.
Most of my Eval/Grad class (my specific training group of like 10) is still in (4+ years). However, most of them either took over offices or did Goodknights.
Several dropped out between failing the exam and Eval/Grad. One of them left the industry after Eval/Grad when he realized how hard it would be (his words...we became pretty good friends). None of them have left for other firms (yet ).[quote=LockEDJ]
I've actually done a little (very) limited research into this; there's a way in which I can keep track my former classmates. (Boy, that sounds creepy!!!)
Anyway - I'd say that about 60% of those brokers that passed their 7/66 and were allowed to sell are no longer with my firm. But from what I know about 30% of those no longer with us still are in the business and that's over a relatively good time frame (2007) and with a large starting group. That's nearly 55% that "made it" to a 3rd year. Don't believe the hype. This isn't nearly as hard a business as you think.[/quote] I have looked at my entire "class" as well. Numbers are about the same after 4 years. It's hard to tell how many did Goodknights or took over offices though (other than the guys in my specific training group). If it's anything like the people in my class, then the majority of the "survivors" got Goodknights or took over an office (or were transfers from within the industry).Including you!! lolMy KYC class was in early 2009…more than 50% are gone now.