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Thanasi 
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Joined: May/10/2011 Status: Offline Points: 617 |
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 Topic: NewbPosted: May/10/2011 at 11:04pm |
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Hello everyone,
I'm a recent college graduate excited to become a financial advisor and looking forward to putting in the hard work. My question is ria or wirehouse? I currently have an offer from Merrill lynch as well as an opportunity to work for a friend who is independent and would be a mentor to me which I feel would be a great asset to have. Thank you ! |
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RIArules
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Trump Ball-Licker Joined: Mar/15/2010 Status: Offline Points: 49907 |
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Posted: May/10/2011 at 11:43pm |
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Welcome!
You will get different responses here, and really alot has to do with your personality, financial situation, and knowledge. I suggest you talk with LSUalumn. He is BY FAR the most knowledgeable FA on this forum. Edited by RIArules - May/11/2011 at 12:40am |
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Thanasi
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Posted: May/11/2011 at 6:06am |
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Thank you
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Iamlegend
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Posted: May/11/2011 at 7:52am |
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If you eventually want to be independent anyway and you are fine with the terms of the deal with your friend, go the RIA route from the beginning.
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moneyguy
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Posted: May/11/2011 at 3:49pm |
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It sounds like you may have two good options there. I would want to know more about what your friend is offering you, and how it compares to ML. It is hard for most independants/RIAs to match what ML will provide in salary. Depending on your own financial situation, it may be the necessary avenue.
FWIW,I started at ML, and went RIA 3 years later. I moved all the clients that I brought TO Merrill Lynch away, except for 1. Most inherited clients stayed behind. Looking back, I think that was the best possible route I could have taken. Getting paid 70k per year, plus bonuses (ended up with around 30k in bonuses) during training to grow a business that I turned around and left with. I almost feel bad about it...almost!
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Ron 14
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Posted: May/11/2011 at 7:22pm |
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RIArules wrote: