RIA thinking of becoming a Branch FA at JP Morgan/Chase

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Aug 6, 2011 11:29 pm

Hi everyone, I'm brand new here and this is my first post.

I'm an RIA with an insurance company in NYC.. I'm sort of a protege in a 4 partner team.. getting 5% of their cases and doing a lot of grunt work.  We do a lot of indepth estate and retirement planning.  Tons of insurance... very little investments.  Lots of Trusts and FLPs.  Tons of ILITs.

Their business has completely died down.. I've built a small practise of my own but it's not big enough.  I'm a great closer but a terrible finder/networker...and I'm slowly starving to death.  I've been offered a position as a Branch FA in Teaneck NJ.. I'm strongly considering it.  I would of course bring over my old book.. but it's pretty small.  I want to use JPM to build my book.. then move on to a wirehouse.

Does anyone have any thoughts about this?  Anyone ever worked as a branch FA at JP Morgan?

I'm afraid that the branch may be small and not in an afluent area.  Is that a total deal breaker?

I've already learned on this forum that I have to ask about teller transactions and bank deposits when I visit the branch, so THANK YOU ALL for that!!  Super helpful.

Aug 18, 2011 1:50 pm

You would do fine over there.  You have to realize though that you are not working for a brokerage house when you go there.  Its a bank and you have to know that you will get treated like that by any real investor.