Found new firm for lower producers like myself
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I’m a newer advisor in the industry. I’ve been licensed for just under a year. While I’ve done fairly well this first year, ~55K in GDC, it’s not good enough for my current firm, a wire house, and I know they’re going to ask me to leave.
I decided to look for a different firm so I could be the one to leave them. Yes, it's pride, but I'd rather not have to have the fact that I was let go for not making production goals noted against me. The wire houses that I talked to really didn't have much to offer me, and the Edward Jones type firms didn't seem to want much to do with me either, so I started looking at Indie B/Ds. I've found a home with an Indie B/D out of MD, and I'm going into one of their existing producer offices called Jehn Financial Services. They're willing to take a chance on me! I get a 50% payout, which is an improvement over where I was, and I don't have any office expenses or overhead. They have office staff to help me move my licenses and the few clients that I'm bringing with me. Plus WHEN I grow my business, my payout rate will increase, and I'll graduate from the cube farm to an office, so that's something to work towards. I believe this will be a good move for me. It's hard to find firms willing to take on reps who are still new and struggling to get their feet wet, but I've found a great fit for me. So for all of you out there who may be frustrated with how your current firms treat us newbies, don't give up. My new firm proves that there are still those out there willing to give people a chance. Thanks for letting me share my story!Why are you still here… Not to be negative, but you are pulling in less than $30K/year. Go find a bank, tell them you want to start over.
Best of luck to you. Never mind the negative comment. We all have to start out somewhere, somehow.
I think he's just a recruiter for the company trying to get their name out. The only thing I'm curious about is why he said Maryland, when Jehn Financial doesn't have an office there...
"We currently have representatives registered to offer securities in the states of Ohio and Arizona and insurance products in the states of Ohio, Arizona, and Washington."
http://www.jehnfinancial.com/jehnfinancial.aspx
[quote=3rdyrp2]
I think he's just a recruiter for the company trying to get their name out. The only thing I'm curious about is why he said Maryland, when Jehn Financial doesn't have an office there...
"We currently have representatives registered to offer securities in the states of Ohio and Arizona and insurance products in the states of Ohio, Arizona, and Washington."
http://www.jehnfinancial.com/jehnfinancial.aspx
[/quote] He might be actually talking about the B/D, H. Beck. I couldn't find H. Beck's website, nevertheless a location, so I don't know.Get you arse ON THE PHONE DUDE!!! Talk to 40 people a day and you will bring in assets it’s truly a simple formula. Not easy to do.
[quote=3rdyrp2]
I think he's just a recruiter for the company trying to get their name out. The only thing I'm curious about is why he said Maryland, when Jehn Financial doesn't have an office there...
"We currently have representatives registered to offer securities in the states of Ohio and Arizona and insurance products in the states of Ohio, Arizona, and Washington."
http://www.jehnfinancial.com/jehnfinancial.aspx
[/quote] Not a recruiter. Just a gal trying to forge ahead in a business I really like. Jehn Financial is not the Broker Dealer. They're a company who has offices where smaller producers, like me, can find a home and support to try to continue to grow my practice.Its just awkward that you are posting and advocating a firm on this forum on the very same day you joined. You don’t have any history here or companions. Why are we the subject of your benevolence? I guess online forums keep me a little suspicious of spam, but anytime someone Is giving me free advice the moment they meet me, I think advertisement. <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Funny thing is, if you are a recruiter, I would have more respect for you by just coming out and saying it. I don't mind when recruiters come on this forum, people are here for information and connections. I may not be typical, but there it is.
In any case, thanks for the info, but don't be offended if people look at your promotion of jehn less as benevolence and more as self serving.
Not offended regreprob! Not in the least.
I've been a reader of registeredrep.com for awhile, but just stumbled upon the forums. So, yes, I can see where the hesitance comes from as my post was made on my membership date. Totally understandable. My point wasn't to give advice, per say, just to let the advisors like me know that if they're about to get the boot from their current firm, but didn't want to give up on the business, that there are places out there for them, and that they shouldn't give up on a career in this industry if they really love what they do. I consider myself fortunate to have found a place willing to take a chance on me. I really like where I'm at, and don't mind saying it. I don't mind a healthy dose of skepticism. Those who can't stad up and take their lumps should probably not be in this business to begin with.onward…Go find a senior advisor with his/her own firm. Use them to affiliate, if possible. You can share expenses and use them for OSJ.