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Which Firm for 40 yr old, 1 yr as FA?

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May 20, 2014 8:13 pm

needacareer

Joined: 2008-06-02Offline

Have been in the business as an advisor for 1 year.  Have series 7, 66, insurance license and have passed CFP coursework, planning to take the exam in November.

 

Supervisor is 300 miles away, never see him, minimal input on anything.  Brought in to work on a team with existing business and leads.  That is not the reality; leads are slim, record keeping is non-existent and splits are routinely falsified.  Not making it financially.

 

Two questions:

Can anyone recommend firms that will hire a rep to work on an experienced team to learn the business for 1-2 years and pay a reasonable salary?

 

Is any bank or wirehouse particularly known for outstanding advisor training?

 

Thanks in advance,

 

Needacareer!

May 29, 2014 4:47 am

Mike Langford

Joined: 2014-05-21Offline

Hi Needacareer!

Where are you located? I have a pretty big network at a variety of firms and I would be happy to help get you connected with the right people in your area.

Best,

Mike

May 30, 2014 8:55 pm

sonofarep

Joined: 2013-01-19Offline

Get out now. The business is going to robo advisors anyway.

Jun 20, 2014 10:06 pm

Me Is JJ

Joined: 2012-09-26Offline

Hi Needacareer -

Outstanding training and support - Best is WFA, but good luck finding someplace where the company is actually interested in hiring you onto a team and supporting w/salary while you learn the business. It’s just not out there unless you join a relative, same as it ever was. You find it? Let me know.

Jun 24, 2014 4:38 pm

jardav

Joined: 2014-04-14Offline

Needacareer, you should check out Edward Jones. They’ve revamped their compensation recently understanding that its a difficult industry to survive in as a rooki (both in pay and in building a business). They’re known for their training and ongoing support as well as being #4 on Fortune magazine’s “100 Best Places to Work”.