Advisorheads Homepage
Forum Home Forum Home > Introductions > Greenhorn Introductions
  New Posts New Posts RSS Feed - Aspiring Advisor
  FAQ FAQ  Forum Search   Events   Register Register  Login Login

Aspiring Advisor

 Post Reply Post Reply
Author
Message
benrose View Drop Down
Groupie
Groupie
Avatar

Joined: Jul/31/2017
Status: Offline
Points: 11
Post Options Post Options   Thanks (0) Thanks(0)   Quote benrose Quote  Post ReplyReply Direct Link To This Post Topic: Aspiring Advisor
    Posted: Jul/31/2017 at 10:25pm
Hello all,

Have made the decision to pursue a career in financial planning. I intend to join the training program at a broker-dealer and go from there. 

But, I have about a year before I can make the jump. So until then I'm learning everything I can about succeeding in this industry. 

Any and all advice is welcome.

Thanks

- Ben 
Back to Top
luvindy View Drop Down
Senior Member
Senior Member
Avatar

Joined: May/17/2010
Status: Online
Points: 15068
Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Jul/31/2017 at 11:06pm
You're going to do well. I can feel it.


8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time."
Dow 13,090 S&P 1406
5/23/13 UC:Dow 20k before 20% crrectn Dow 15,322
Back to Top
RIArules View Drop Down
Senior Member
Senior Member
Avatar

Joined: Mar/15/2010
Status: Offline
Points: 14701
Post Options Post Options   Thanks (0) Thanks(0)   Quote RIArules Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 12:05am
Love the attitude
We may "rob you slowly," but you're not going to see that shit.

Edward Jones Newb, Circa September 2016
Back to Top
brome90 View Drop Down
Member
Member


Joined: Mar/12/2014
Status: Offline
Points: 413
Post Options Post Options   Thanks (0) Thanks(0)   Quote brome90 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 9:17am
At least you're doing this a year prior to joining, so that's good.

Find the 500 day war thread by TheWolf and read that.
Back to Top
benrose View Drop Down
Groupie
Groupie
Avatar

Joined: Jul/31/2017
Status: Offline
Points: 11
Post Options Post Options   Thanks (0) Thanks(0)   Quote benrose Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 9:34am
Thanks for the kind words.

I initially read 500 Day War and some other useful stuff on WealthManagement.com, which led me to look at other forums, which is how I got here. 

I have some experience with cold calling/knocking from several years selling my freelance marketing services to small biz owners. I also have a background in advertising so pretty familiar with how to communicate a value proposition. 

I believe my biggest learning curve will be the investment products and strategies themselves. 

I have an idea to tap my professional network from my time working at ad agencies. Any thoughts on this strategy, dos/don'ts from career changers who have tried?

Thanks

Ben 
Back to Top
B24 View Drop Down
Moderator
Moderator
Avatar
GOAT!

Joined: Mar/09/2010
Status: Offline
Points: 14963
Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 9:53am
Originally posted by benrose benrose wrote:

I have some experience with cold calling/knocking from several years selling my freelance marketing services to small biz owners. I also have a background in advertising so pretty familiar with how to communicate a value proposition. 


Yup, here it comes boys.

Next post..."So, what are your biggest frustrations is a financial advisor? What kind of software could you use...."  LOL
"I am moving June 2018" - Chief, 08/03/2016

"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Unknown, 09/20/2016
Back to Top
advisorman View Drop Down
Senior Member
Senior Member
Avatar

Joined: Oct/22/2011
Location: somewhere
Status: Offline
Points: 1744
Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 1:49pm
Read all water cooler posts. It's where the real knowledge lies...
King of sarcasm and speling
Back to Top
Iamlegend View Drop Down
Senior Member
Senior Member
Avatar

Joined: Mar/09/2010
Status: Offline
Points: 15159
Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 2:43pm
Originally posted by benrose benrose wrote:

Thanks for the kind words.

I initially read 500 Day War and some other useful stuff on WealthManagement.com, which led me to look at other forums, which is how I got here. 

I have some experience with cold calling/knocking from several years selling my freelance marketing services to small biz owners. I also have a background in advertising so pretty familiar with how to communicate a value proposition. 

I believe my biggest learning curve will be the investment products and strategies themselves. 

I have an idea to tap my professional network from my time working at ad agencies. Any thoughts on this strategy, dos/don'ts from career changers who have tried?

Thanks

Ben 

Don't count too much on people you knew from a prior career. It will take some time for them to trust you in a new career.
Back to Top
Jmhalvo View Drop Down
Member
Member


Joined: Aug/25/2016
Status: Offline
Points: 247
Post Options Post Options   Thanks (0) Thanks(0)   Quote Jmhalvo Quote  Post ReplyReply Direct Link To This Post Posted: Aug/01/2017 at 9:06pm
"Sales" is where it's at...gotta have clients. You'll figure out the rest. Good luck.
Back to Top
benrose View Drop Down
Groupie
Groupie
Avatar

Joined: Jul/31/2017
Status: Offline
Points: 11
Post Options Post Options   Thanks (0) Thanks(0)   Quote benrose Quote  Post ReplyReply Direct Link To This Post Posted: Aug/02/2017 at 11:30pm
Here's a specific question for you guys. 

You take a prospect to one on one dinner. Will the firm pick up the tab? Or is that the advisor's responsibility? 




Back to Top
SometimesNowhere View Drop Down
Senior Member
Senior Member
Avatar
Ass King

Joined: Mar/11/2010
Status: Offline
Points: 11825
Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 7:10am
Originally posted by benrose benrose wrote:

Hello all,

Have made the decision to pursue a career in financial planning. I intend to join the training program at a broker-dealer and go from there. 

But, I have about a year before I can make the jump. So until then I'm learning everything I can about succeeding in this industry. 

Any and all advice is welcome.

Thanks

- Ben 


My advice is that you've already failed. Find something else to do with your time.
I sort of give a fuck.
Back to Top
PEACH_cm View Drop Down
Senior Member
Senior Member


Joined: Jan/16/2013
Status: Offline
Points: 2530
Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 7:11am
Originally posted by benrose benrose wrote:

Here's a specific question for you guys. 

You take a prospect to one on one dinner. Will the firm pick up the tab? Or is that the advisor's responsibility? 




the only firm that picks up the tab is the one you own. If this is your first question then you should stay where you are now. Unless you like the feeling of failure and losing everything you have.
Back to Top
Jmhalvo View Drop Down
Member
Member


Joined: Aug/25/2016
Status: Offline
Points: 247
Post Options Post Options   Thanks (0) Thanks(0)   Quote Jmhalvo Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 7:30am
You're gonna catch hell on here for a question like that, because a 50.00 tab is so totally irrelevant and meaningless. It's a very tough business and you'll need full commitment, so whether you get reimbursed matters zero. I know your just curious but such a question sounds like what a salaried back-office lifer would care about. An entrepreneur doesn't care about such things AT ALL.
Back to Top
Iamlegend View Drop Down
Senior Member
Senior Member
Avatar

Joined: Mar/09/2010
Status: Offline
Points: 15159
Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 9:03am
Originally posted by benrose benrose wrote:

Here's a specific question for you guys. 

You take a prospect to one on one dinner. Will the firm pick up the tab? Or is that the advisor's responsibility? 





It depends what you work out with your manager and if they give you marketing money. If they won't pay for it you can usually put money in a pre-tax account and at least save the tax $$ on it.
Back to Top
benrose View Drop Down
Groupie
Groupie
Avatar

Joined: Jul/31/2017
Status: Offline
Points: 11
Post Options Post Options   Thanks (0) Thanks(0)   Quote benrose Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 9:16am
That makes sense. I know it's minutia, just thinking ahead to how much cash I should have on hand for these type of expenses. Client dinners at my salaried back office lifer job can be $500+ for 3 people if it's a nice restaurant. 
Back to Top
Macduff View Drop Down
Member
Member
Avatar

Joined: Oct/27/2013
Location: United States
Status: Offline
Points: 470
Post Options Post Options   Thanks (0) Thanks(0)   Quote Macduff Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 9:33am
Originally posted by benrose benrose wrote:

That makes sense. I know it's minutia, just thinking ahead to how much cash I should have on hand for these type of expenses. Client dinners at my salaried back office lifer job can be $500+ for 3 people if it's a nice restaurant. 

It all depends on the situation. I wouldn't consider that average by any means though. I wouldn't take many (maybe any) of my clients out to a meal like that.

Maybe I'm just cheap but I generally try to take my clients and prospects to lunch because it's cheaper and fits in my schedule better.
“I was born for the storm, and a calm does not suit me.”

― Andrew Jackson
Back to Top
B24 View Drop Down
Moderator
Moderator
Avatar
GOAT!

Joined: Mar/09/2010
Status: Offline
Points: 14963
Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 9:34am
You have to think of this career as an "investment", or a business, not a job.

If you are not willing to put significant resources towards it (including the cost of lost income) the first few years, then it's not for you.
"I am moving June 2018" - Chief, 08/03/2016

"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Unknown, 09/20/2016
Back to Top
bc2051 View Drop Down
Senior Member
Senior Member


Joined: Jun/19/2013
Status: Offline
Points: 4254
Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 10:04am
Originally posted by B24 B24 wrote:

You have to think of this career as an "investment", or a business, not a job.

If you are not willing to put significant resources towards it (including the cost of lost income) the first few years, then it's not for you.


That said, you're not spending 500 on dinner for a client in your first few years if ever
Back to Top
nest View Drop Down
Member
Member
Avatar
Tech Guy

Joined: Jul/07/2012
Status: Offline
Points: 434
Post Options Post Options   Thanks (0) Thanks(0)   Quote nest Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 11:50am
Advertising sales means spend the company's money on golf and food until they buy.
Back to Top
 Post Reply Post Reply
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 11.04
Copyright ©2001-2015 Web Wiz Ltd.

This page was generated in 0.078 seconds.