Failing out

SF,

give yourself some credit man, you're a very like-able guy.  Like I said, if I ever LEAVE this business and I have a substantial amount of money, I would have you manage my money and give you full discretion, you're just a trust worthy - type of person.  And believe me I don't trust people very easily.  You have good game and don't even know it.

Indigo,

You have to be very careful of the big firms.  They have changed their wording on their new "agreement" to where if you leave OR get fired, they can come after you for training costs.  At big firms it's around 35-40k.  Imagine you try the biz out, and don't make it and leave the industry and they still come after you? 

You'd have to be crazy to sign those docs...

It depends if you need a salary or not.  If you do I would start at EJ or WFA.  The other big firms are not good options any longer IMO.  If you don't need a salary and you find an independent or RIA office willing to take you on I would go that route if you want to be independent one day.

newregrep wrote: SF, give yourself some credit man, you're a very like-able guy.  Like I said, if I ever LEAVE this business and I have a substantial amount of money, I would have you manage my money and give you full discretion, you're just a trust worthy - type of person.  And believe me I don't trust people very easily.  You have good game and don't even know it. Indigo, You have to be very careful of the big firms.  They have changed their wording on their new "agreement" to where if you leave OR get fired, they can come after you for training costs.  At big firms it's around 35-40k.  Imagine you try the biz out, and don't make it and leave the industry and they still come after you?  You'd have to be crazy to sign those docs...

I agree with the highlighted part.  SF is probably the most helpful person on the forum although if I left the biz I would manage my own money.

Thanks for your help legend. Ok, so no salary. What are the chances of making rent in 6 months w/o anything than commissions? Not talking living large mind you, just a dog house. Of course I would want to go indy since I'm just not a kool aide kind of guy. And, since I've been reading here you don't need to know much of anything except how to sell and market, what kind of knowledge base is helpful? Also, elsewhere I've seen people say do not go into income deficit to get started, which sounds to be the case with a indy/RIA. Could you take a moment please, and I have to say this is a really great forum with really helpful people. It's very heartening to see this kind of brotherhood. 

I'm on this like ugly on a Baldwin brother. Thank you for your help. 

Edited by trueindigo - Feb/13/2013 at 11:14am

I think the real question is what type of advisor do you want to be. If you come from an education career, talk to ice. I would imagine being an ex-educator you could do really well in that niche.
I would always start at a place offering a salary. Probably EJ at this point. Reason why is it is always better to have it and not need it, then to need it and not have it. You could put yourself into a bad position financially because this business has the allure of the $1mm+ prospect you have out there that you might close next month.

Hacksaw wrote: I think the real question is what type of advisor do you want to be. If you come from an education career, talk to ice. I would imagine being an ex-educator you could do really well in that niche. I would always start at a place offering a salary. Probably EJ at this point. Reason why is it is always better to have it and not need it, then to need it and not have it. You could put yourself into a bad position financially because this business has the allure of the $1mm+ prospect you have out there that you might close next month.

Moraen wrote: Salaries are for bitches.

Hi again. Sorry for so many questions, but I do have a few. I was wondering how, or if, it is possible to get the series 65, set up a RIA, etc. and start from absolutely scratch dialing for dollars from a home office following the 500 day war and build business literally from ground zero? That presumes a good working knowledge of investment products, etc. of course. With no brick and mortar, is it possible to run essentially a concierge practice by meeting with clients in their homes, businesses, etc. or is it mandatory to have an actual store front? Also, since the Judge recommended calling the opposite coast to squeeze a few more hours of activity into a working day, is it feasible to work two cities at the same time and get clients from both. I'm between 2 major metropolitan areas of 4-5 million people each I could reach in 3 hours. I know this probably sounds totally noob, but really, I have no preconceived ideas so I look at all of this from an anything is possible perspective. What is possible/impossible? Thank you very much.   

technically possible is only one factor. could you recommend in your opinion the first 5 or 10 steps to jump into the deep end and start swimming with the other sharks for the chum? you have to get to first base first, then second. everyone has a different philosophy, i.e. start w an insurance company, start w ej, hook up with an indy, etc. technically being able is not at all the same as a step by step path to success. anyway, i'm looking at every single post here in the forum drinking in as much information as possible. thank you for your help. this is a great place with good people.