[quote=hello]I spent 4 years in college with the goal of becomming a financial
advisor. I got to know all of the advisors I could as a student member
of the local chamer of commerce, and various other business
organizations. From what I have gathered most of the financial firms
bring in a vast number of rookies each year and throw them to the
wolves with no guidance on how to market themselves, and build a
cientelle.



Some of the guys I went to school with that graduated before me are
advisors now, and they tell me that they have no guidance as to where
they should spend their time and resources.



It just doesn’t seem like a good way to start a career.



Your imput is appreciated.
[/quote]


Some firms have better training programs than others.  The topic of which programs are the best is likely to start a small war on this forum.

However, as somebody who has placed candidates with scores of hiring managers I can safely say that the quality of the local branch manager is the biggest factor in training quality.

A good BOM (Branch Office Manager) can make up for a mediocre training program.  A bad BOM will guarantee your failure no matter how good the program.

Stop shopping for firms.  Instead, make a list of ALL the firms that appeal to you in terms of product mix, target market, compensation and etc.

Apply to all of them. 

Your friends are already licensed, so they’ll have the advantage of using recruiters like me.  You have it tougher.  Suggest you ask your FA friends to handle introductions for you.  (Doesn’t have to be local, a BOM will consider an internal referral from any city).

Once you have the interviews, be sure to ask lots of questions.  Get to know the BOM, the sales manager and (if applicable) the training manager.

If you get multiple offers, then go with the firm with the best BOM.  You want somebody who is interested in your success.  Do you click?  Does (s)he really try to get to know you, or do they just go through the normal interview and sales pitch.


Another tip:  a salary + commission arrangement is a sign that the company is willing to invest in you.  Don’t expect the salary to last forever (12-24 months is typical).

Also: in my opinion firms with broad and open product portfolios tend to invest more in training than those with narrow and proprietary products.  The more sophisticated the training needs, the more likely they will adequately invest in you.

Finally, no matter how good the program is recognize that you are responsible for your own success.  You’ve made a great start by networking BEFORE you become an FA.  It shows foresight and ability.  Be sure that you go with a firm that will allow time for a networking based marketing plan, instead of something that requires lots of mandatory cold calling.

Good luck and be sure to let us know what you decide!

[quote=hello]I spent 4 years in college with the goal of becomming a financial advisor. I got to know all of the advisors I could as a student member of the local chamer of commerce, and various other business organizations. From what I have gathered most of the financial firms bring in a vast number of rookies each year and throw them to the wolves with no guidance on how to market themselves, and build a cientelle. [Exacly right, there are no firms that will show you how to build one of those.  You're observant]

Some of the guys I went to school with that graduated before me are advisors now, and they tell me that they have no guidance as to where they should spend their time and resources.

It just doesn't seem like a good way to start a career.

Your imput is appreciated. [/quote]

I'm sorry you wasted 4 years of your life.  You can't become a Financial Advisor.  You're too dumb.  I'm pretty sure that they require one to have an IQ that is at least above that of a slug's.

You might qualify for a job as a window washer though. 

[quote=JCadieux] [quote=hello]I spent 4 years in college with the goal of becomming a financial advisor. I got to know all of the advisors I could as a student member of the local chamer of commerce, and various other business organizations. From what I have gathered most of the financial firms bring in a vast number of rookies each year and throw them to the wolves with no guidance on how to market themselves, and build a cientelle.

Some of the guys I went to school with that graduated before me are advisors now, and they tell me that they have no guidance as to where they should spend their time and resources.

It just doesn't seem like a good way to start a career.

Your imput is appreciated. [/quote]


Some firms have better training programs than others.  The topic of which programs are the best is likely to start a small war on this forum.

However, as somebody who has placed candidates with scores of hiring managers I can safely say that the quality of the local branch manager is the biggest factor in training quality.

A good BOM (Branch Office Manager) can make up for a mediocre training program.  A bad BOM will guarantee your failure no matter how good the program.

Stop shopping for firms.  Instead, make a list of ALL the firms that appeal to you in terms of product mix, target market, compensation and etc.

Apply to all of them. 

Your friends are already licensed, so they'll have the advantage of using recruiters like me.  You have it tougher.  Suggest you ask your FA friends to handle introductions for you.  (Doesn't have to be local, a BOM will consider an internal referral from any city).

Once you have the interviews, be sure to ask lots of questions.  Get to know the BOM, the sales manager and (if applicable) the training manager.

If you get multiple offers, then go with the firm with the best BOM.  You want somebody who is interested in your success.  Do you click?  Does (s)he really try to get to know you, or do they just go through the normal interview and sales pitch.


Another tip:  a salary + commission arrangement is a sign that the company is willing to invest in you.  Don't expect the salary to last forever (12-24 months is typical).

Also: in my opinion firms with broad and open product portfolios tend to invest more in training than those with narrow and proprietary products.  The more sophisticated the training needs, the more likely they will adequately invest in you.

Finally, no matter how good the program is recognize that you are responsible for your own success.  You've made a great start by networking BEFORE you become an FA.  It shows foresight and ability.  Be sure that you go with a firm that will allow time for a networking based marketing plan, instead of something that requires lots of mandatory cold calling.

Good luck and be sure to let us know what you decide!


[/quote]

Don't listen to this guy, his real identity is as an old washed up has been.  He goes by several names around here.....NASD Newbie, Put Trader, Big Easy Flood and more.

[quote=Grammar Police]

I'm sorry you wasted 4 years of your life.  You can't become a Financial Advisor.  You're too dumb.  I'm pretty sure that they require one to have an IQ that is at least above that of a slug's.

You might qualify for a job as a window washer though. 

[quote=JCadieux] [quote=Grammar Police]

I'm sorry you wasted 4 years of your life.  You can't become a Financial Advisor.  You're too dumb.  I'm pretty sure that they require one to have an IQ that is at least above that of a slug's.

You might qualify for a job as a window washer though. 

[/quote]

Hello-

In other posts, GP has claimed to be a million dollar producer.  We suspect that the person behind the GP identity has used other accounts to brag about being a branch manager and the owner of a small brokerage.  (He mentions some of these identities in his other post).

Nobody believes him, but this may help illustrate my point.  Can you imagine working for somebody like Grammar Police?

This is an example of the kind of BOM that you should avoid. 

Again, good luck and best wishes with your job hunt.



[/quote]

Nice one there Old NASDY.  Keep up the good work.

I'm a million dollar producer.

Training in this industry should really be called, 'licensing and product education' training.  Most, if not all, firms don't do on the job training (formally).  There's no formal, 'apprentice' program to speak of.  New folks get frustrated because they feel like they're going to be trained to do the job - but they don't.

Best advice - find a branch manager who will mentor you and provide you with some guidance.

Also - disregard Grammar Polise, aka: AMHIMUU (At Mommy's House In My Underwear, Unemployed).

Well, honestly, I am not sure what the original question is about.  If you are asking for a firm that trains you, that is a reasonable question.

If you want someone to take you by the hand and lead you along, FA is not the job you should pursue.

This is a job for self starters and self motivated people.

[quote=JCadieux] [quote=hello]I spent 4 years in college with the goal of becomming a financial advisor. I got to know all of the advisors I could as a student member of the local chamer of commerce, and various other business organizations. From what I have gathered most of the financial firms bring in a vast number of rookies each year and throw them to the wolves with no guidance on how to market themselves, and build a cientelle.

Some of the guys I went to school with that graduated before me are advisors now, and they tell me that they have no guidance as to where they should spend their time and resources.

It just doesn't seem like a good way to start a career.

Your imput is appreciated. [/quote]


Some firms have better training programs than others.  The topic of which programs are the best is likely to start a small war on this forum.

However, as somebody who has placed candidates with scores of hiring managers I can safely say that the quality of the local branch manager is the biggest factor in training quality.

A good BOM (Branch Office Manager) can make up for a mediocre training program.  A bad BOM will guarantee your failure no matter how good the program.

Stop shopping for firms.  Instead, make a list of ALL the firms that appeal to you in terms of product mix, target market, compensation and etc.

Apply to all of them. 

Your friends are already licensed, so they'll have the advantage of using recruiters like me.  You have it tougher.  Suggest you ask your FA friends to handle introductions for you.  (Doesn't have to be local, a BOM will consider an internal referral from any city).

Once you have the interviews, be sure to ask lots of questions.  Get to know the BOM, the sales manager and (if applicable) the training manager.

If you get multiple offers, then go with the firm with the best BOM.  You want somebody who is interested in your success.  Do you click?  Does (s)he really try to get to know you, or do they just go through the normal interview and sales pitch.


Another tip:  a salary + commission arrangement is a sign that the company is willing to invest in you.  Don't expect the salary to last forever (12-24 months is typical).

Also: in my opinion firms with broad and open product portfolios tend to invest more in training than those with narrow and proprietary products.  The more sophisticated the training needs, the more likely they will adequately invest in you.

Finally, no matter how good the program is recognize that you are responsible for your own success.  You've made a great start by networking BEFORE you become an FA.  It shows foresight and ability.  Be sure that you go with a firm that will allow time for a networking based marketing plan, instead of something that requires lots of mandatory cold calling.

Good luck and be sure to let us know what you decide!


[/quote]

+1 on the above advice. A BOM will make or break you.

Make no mistake that this is first and foremost a sales job. You must seperate in your mind, the dual processes of raising the money and manageing the money. Raising the money is a pure sales task. Almost all the largest producers in this business are master salesman. If you fail at raising the money, you will fail in this business.

I believe that a great training ground for this business starts at the local Ford dealership. This is especially true for very young candidates who are naive about the ways of the world. A stint as a car salesman will teach a prospective FA how to deal with customers one on one. It entails quick thinking, and empathy. Most importantly, it puts the future FA into closing situations on a daily basis. From the car lot, where the candidate should have worked to be the top salesperson, it's off to the world of professional bag sales. What is a bag sales person? Someone who has to drag samples with them to show. Pharmacutical, copier, and computer hardware sales come to mind. These sales people make  a lot of money and earn every dime. Similar to our business, these salespeople have to search out prospects for presentations. Heavy closing is also involved. Next, it's onward to the world of financial services. For those who take this route, the lame training is not an obstacle. The trainers are very good on the product, process and investment advice side of the program.

Regardless of how you go about it, once here, a multi-channel marketing program should be instituted. I believe cold calling should be a part of that program. And again, regardless, the name of the game is contacts. Make as many as you can.

The person staring back at you in the mirror is the only person responsible for your success or failure. This isn't a team sport.

Good luck in your search.

Grammer Police, I think you're confused...

Million Dollar Producer refers to production, not AUM...

Training in this industry should really be called, 'licensing and product education' training.  Most, if not all, firms don't do on the job training (formally).  There's no formal, 'apprentice' program to speak of.  New folks get frustrated because they feel like they're going to be trained to do the job - but they don't.

Best advice - find a branch manager who will mentor you and provide you with some guidance.

Also - disregard Grammar Polise, aka: AMHIMUU (At Mommy's House In My Underwear, Unemployed).

NASD Newbie - You’re starting to worry me, I think you’re really going off the deep end (more so that typical).  You didn’t stop taking your medication did you?  Anyway - relax, of course you’re a million dollar producer, we would never challenge that.  Just calm down, play your X-Box for a few more hours - then join us in the real world.  Shhhhh - It’s OK, really:-)

[quote=apprentice]NASD Newbie - You're starting to worry me, I think you're really going off the deep end (more so that typical).  You didn't stop taking your medication did you?  Anyway - relax, of course you're a million dollar producer, we would never challenge that.  Just calm down, play your X-Box for a few more hours - then join us in the real world.  Shhhhh - It's OK, really:-)[/quote]

I'm not NASD Newbie.  Try again chump.

[quote=Grammar Police]

[quote=apprentice]NASD Newbie - You're starting to worry me, I think you're really going off the deep end (more so that typical).  You didn't stop taking your medication did you?  Anyway - relax, of course you're a million dollar producer, we would never challenge that.  Just calm down, play your X-Box for a few more hours - then join us in the real world.  Shhhhh - It's OK, really:-)[/quote]

I'm not NASD Newbie.  Try again chump.

[/quote]

NASD Newbie isn't even an active name, but I bet he wishes he had thought of the name Grammar Police.

Soon 2 B Back,

I admire your persistence.

[quote=dude]

Soon 2 B Back,

I admire your persistence.

[/quote]

I've been in Atlanta looking for a place to live--I'm thinking of College Park or East Point.

[quote=Soon 2 B Gone][quote=dude]

Soon 2 B Back,

I admire your persistence.

[/quote]

I've been in Atlanta looking for a place to live--I'm thinking of College Park or East Point.

[/quote]

I'm a left coaster so I can't help you out.  Although personally, I'd avoid any state in the Bible belt....I like sin a little too much.

Well, then again, the devil went down to Georgia.

[quote=Soon 2 B Gone][quote=dude]

Soon 2 B Back,

I admire your persistence.

[/quote]

I've been in Atlanta looking for a place to live--I'm thinking of College Park or East Point.

[/quote]

I was referring to you speaking about yourself in 3rd person.  Anyway, welcome back.