Youngest FA you know to get outside 3 yrs in business
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Right now I have two jobs to choose from. One is a job working for a 2 FAs and 4 FAAs as back office support to keep track of client positions, draw up new strategies for clients, design initial plans with insight from the FAs and do all the trading/ research they need. It will be a salary position.
The other is to work for a private client group at a prestigious regional wealth management firm (about 500 employees, maybe 50 FAs) and will most likely start on a team (I am 99.99% positive I will choose this if I get a team), the head of the private client group is very well know and respected in the area.
With those jobs in mind I was wondering what the youngest FA you know of that has made it for 3 or so years. I have a very good strategy, and I know what extremes it takes to make it. I am fully willing to commit to spending 7 hours a day or more if needed marketing/ calling/ networking/ whatever to make it, but will my age be a problem if not on a team. I know it will make it tougher and whatever but I have to build a trusting relationship regardless. However should I take a back office job (non sales) for a few years until I get a little older.
I will be 23 this month. I have 1 year experience in financial advising already, but mostly product (transactional) selling not full wealth management. Have a 7, 66 etc...
Thanks for your insight.
Personally, I don't think anyone really knows what it takes to make it in this business until you're actually doing it. Everyone I've talked to (including myself) underestimated what it will take. Or realized what it would take and over-estimated their own disipline to do it. This business will humble you like no other, but it can also reward you like no other.
I know of two that have made it out of the 3 year mark and started young. Both started around 22 and they're now 26 and 31 respectively.
I used to think right around age 30 was the prime time to get into this but age is not a huge factor as it turns out.
In the industry I came from, it was similar to our business and I started at 26. Early on my own fear was that prospects would call me out on my age (which is just another way of saying lack of experience).
And, much to my surprise it almost never happened. After awhile I realized it was just my own irrational fear getting in the way.
Anyone can do this regardless of age if they want it bad enough and they're willing to do what it takes. The reason I suspect that you don't see too many just out of college actually doing is because they're simply not mature enough yet, I know I wasn't.
Think about it, a mature, ultra hard working 22 year-old is about as rare as a unicorn in the forest. They may exsist but you'll probably never see one.
-PF
Go for it full force and dont worry about your age. if you know your stuff, that is all that matters. i am 26, and it has only been brought up once or twice. my response was "old enough to be doing this and be very successful". shuts them up. i thought it would be a bigger deal when i started but it wasnt.
and def go with a team. the learning experience will be so valuable. i wish i had found a team when i first started. best way to go.