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marcfx View Drop Down
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    Posted: Apr/04/2018 at 7:59pm
New to financial advisory. Not new to sales. I've had a successful career in sales thus far.

I'm not happy where I am and I've always wanted to be a financial advisor, so I'm going to do it.

I'm between two options:

Small firm: get sponsored for my license, start as an advisor, get a couple hundred orphaned clients. Firm has roughly 15 advisors and 5000 clients in total and are backed by a great b/d.
OR
Merrill Lynch: start as a client associate, get registered, work for a few years to learn the ropes, and move up or on when the time comes.

What do you think is a better start? My gut instinct says to start off with the small firm, but my personal financial advisor says that the Merrill lynch experience would be invaluable.
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missionshooter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Apr/04/2018 at 8:12pm
1
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Braedo View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Braedo Quote  Post ReplyReply Direct Link To This Post Posted: Apr/04/2018 at 8:23pm
option 1, no brainer
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marcfx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marcfx Quote  Post ReplyReply Direct Link To This Post Posted: Apr/04/2018 at 8:33pm
Braedo: Thanks, that's what I thought too.

Missionshooter: congrats on being first! Not sure if you also meant that one was the better option

Edited by marcfx - Apr/04/2018 at 8:50pm
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B24 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Apr/04/2018 at 9:01pm
"my personal financial advisor says that the Merrill lynch experience would be invaluable."

Really? Ask APAC about his experience.

#1
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16

"Jags/Vikes Super Bowl. Write it down" - Sportsfreak 01/19/18
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Apr/04/2018 at 9:44pm
Your personal financial advisor is hoping you will fail so he can pike your accounts. He's probably a piker himself. Fuck him and his bad advice.

Option 1.

/end thread

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
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 9:25am
Option 1.  No doubt about it. 
I come in peace. I didn’t bring artillery. But I’m pleading with you, with tears in my eyes: If you fuck with me, I’ll kill you all. - General James Mattis

Fiduciary as Fuck - iMo
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 9:42am
Hidden option #3 - go back to your old sales job. You're clearly not cut out for this.
I sort of give a fuck.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 11:03am
Originally posted by SometimesNowhere SometimesNowhere wrote:

Hidden option #3 - go back to your old sales job. You're clearly not cut out for this.

Well said.
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
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marcfx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marcfx Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 11:16am
That's a possibility too, but I'll never know if I don't try. My current sales job is selling life and annuities but it's definitely the opposite of comprehensive financial planning.
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D.H.K. View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 11:30am
Failing from ML means other opportunities - strangely enough.  

Want to go work for a bank or CU as an advisor?  They'll LOVE that you were with ML.
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marcfx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote marcfx Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 12:07pm
Originally posted by D.H.K. D.H.K. wrote:

Failing from ML means other opportunities - strangely enough.  

Want to go work for a bank or CU as an advisor?  They'll LOVE that you were with ML.


DHK, I know that would apply to PMD opportunities, but they don't do those in my area anymore. This would be the first step to joining a team of FAs, and I wouldn't do anything advisory related. It's a client service position.

I wouldn't be an advisor for at least 3 years.

Edited by marcfx - Apr/05/2018 at 12:09pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote UserNamey Quote  Post ReplyReply Direct Link To This Post Posted: Apr/05/2018 at 1:58pm
Welcome!
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