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DrZaius7 
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Joined: Jun/02/2011 Status: Offline Points: 4 |
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 Topic: INTROPosted: Jun/02/2011 at 8:35pm |
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Hi Folks, I am considering a career change. Will finish my MBA this fall and have an interview with Morgan Stanley tomorrow. Hoping to learn as much as possible.
I love finance and investing!
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Ron 14
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Licensed Teller Joined: May/12/2010 Status: Offline Points: 19390 |
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Posted: Jun/02/2011 at 9:36pm |
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Welcome!
Do you enjoy sales?
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DrZaius7
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Posted: Jun/05/2011 at 9:37pm |
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noggin
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Joined: Mar/11/2010 Location: Parts Unknown Status: Offline Points: 2477 |
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Posted: Jun/05/2011 at 11:30pm |
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Do you like dialing a phone? Do you like talking to people that are beneath your intelligence level?
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What keeps us captive are our own fears.- Moraen
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Posted: Jun/06/2011 at 6:40am |
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If you like finance and investing, you should become an analyst, or portfolio manager.
If you like investing and sales, you should become a financial advisor |
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boxtowire200
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Joined: Mar/01/2011 Status: Offline Points: 65 |
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Posted: Jun/06/2011 at 11:45am |
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A career change? What do you do today?
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DrZaius7
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Posted: Jun/07/2011 at 8:37pm |
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Currently work for a wealthy family that owns commercial real estate. I handle our litigation and collections departments
I understand the FA career is 99% sales and am not super gun ho about it but helping people with their financial futures and being able to be so involved with investing excites me. The potential income and freedom also motivates me. Perfect scenario for me would to be a portfolio manager but if I take the FA career path won't the day to day become more investment management and less sales and you grow AUM?
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Wet_Blanket
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Team America (not iMo) Joined: Mar/10/2010 Location: New England Status: Offline Points: 46822 |
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Posted: Jun/07/2011 at 8:40pm |
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Will this wealthy fam let you run money?
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The true 🤡 was the Biden voter all along.
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DrZaius7
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Posted: Jun/07/2011 at 9:03pm |
Unfortunately no. Very private and trust no one. Thinks the stock market is nothing but gambling so they stick to real estate. Forgot to mention I will graduate with my MBA this fall. Am I pissing away my degree by going FA route??
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Sportsfreak
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Wise Old Perv and CTO of AH Joined: Mar/09/2010 Status: Offline Points: 25709 |
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Posted: Jun/07/2011 at 9:50pm |
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1. Don't know if you are pissing it away, i suppose it would look good on your business card, if your B/D allows you to use it, but there are definitely better uses for an MBA
2. Before you go forward, just make sure you absolutely understand that this is a sales job first and foremost. Once you have enough AUM, you will still have to sell. You will need to constantly market yourself not only to prospects but to existing clients because in bad markets you need to reinforce your value constantly. And you will have clients, die, move and generally get pissed off for no reason and leave you, and so you have to be able to replace them. I don't mean to be harsh. But its important that you understand you are taking a sales job. Otherwise you will fail |
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If you eat an entire cake without cutting it, then technically, you only had one piece
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boxtowire200
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Posted: Jun/08/2011 at 10:00am |
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If you think of being an FA as a "career path" to managing money, you will not make it. It sales first and foremost. If you want to utilize your MBA and be an analyst, find a large financial firm to work for, get your CFA and don't even think about being in sales. I've met more than a few FA's who are not that bright when it comes to markets and investing, but make a good living because they are good at sales. I also have met more than a few former FA's who were bright but failed because they sucked at sales--they would chart their ideas and write scripts all day, but never pick up the phone.
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MRD
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Joined: Mar/15/2010 Location: Oklahoma Status: Offline Points: 172 |
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Posted: Jun/08/2011 at 7:57pm |
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Agree with all of the posts, it is a sales job. I other terms it is a contact sport. There is only one way to make it and that is by contacting people.
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Wet_Blanket wrote: