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New EDJ Advisor

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NajaESG View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote NajaESG Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 12:41pm
Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?

I lost my Job due to layoffs at the director level at the startup i was working for, my boss, me and 2 other directors were let go within a month of each other. Was unemployed since February. I was driving Uber since May to make ends meet while interviewing literally everywhere I could. Ultimately, I landed on wealth management and financial advising as a career path that interested me. Also, I wish my weeks were only 60 hours, more like 80-90 hour weeks, and it was literally killing me.


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missionshooter View Drop Down
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Clap  You are in a good place with our family my friend.  

It is easier to get into Harvard than it is EDJ.  You will do great here.  


"We probably have a 98% close rate." - Circlejerk 7-28-22

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Post Options Post Options   Thanks (1) Thanks(1)   Quote gregsanberg Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 1:06pm
Originally posted by NajaESG NajaESG wrote:

Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?


I lost my Job due to layoffs at the director level at the startup i was working for, my boss, me and 2 other directors were let go within a month of each other. Was unemployed since February. I was driving Uber since May to make ends meet while interviewing literally everywhere I could. Ultimately, I landed on wealth management and financial advising as a career path that interested me. Also, I wish my weeks were only 60 hours, more like 80-90 hour weeks, and it was literally killing me.




Got it. Good deal. This is a great industry after the first 5(ish) years. Stay consistent with marketing and good things will come.
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gregsanberg View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gregsanberg Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 1:07pm
Originally posted by BullishT BullishT wrote:

Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?


Because he was probably working 60hrs/week and he wants to make $500k working 30hrs/week?


Working 30 hrs sounds like too much!
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HCCWManager View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HCCWManager Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 2:01pm
Originally posted by BullishT BullishT wrote:

Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?

Because he was probably working 60hrs/week and he wants to make $500k working 30hrs/week?

Make that 700k or more working 15 hours or less  every other week and now you get the beauty of this career. 
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advisorman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 2:22pm
Originally posted by richchick richchick wrote:

Hey kid. If you’ve spent more than two minutes on here you’d know we are a bunch of sarcastic assholes. You should be asking these questions instead: how do I get in front of prospects, how do I sell, what do I tell people in this market. GK might keep you busy for a hot second but should be like the last thing on your mind. Good luck. 



SHES BACK!!!!!
King of sarcasm and speling
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gregsanberg View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gregsanberg Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 2:47pm
Originally posted by HCCWManager HCCWManager wrote:

Originally posted by BullishT BullishT wrote:

Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?


Because he was probably working 60hrs/week and he wants to make $500k working 30hrs/week?


Make that 700k or more working 15 hours or less  every other week and now you get the beauty of this career. 


I did this exercise recently and I came up with ~650 working hours is what I have right now across the year since I gave up the "prospect" meetings part of my job.

This still includes review meetings with 100 clients. I hope to continually lower the ongoing relationships that I have in the years to come.
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richchick View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote richchick Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 2:54pm
Originally posted by advisorman advisorman wrote:

Originally posted by richchick richchick wrote:

Hey kid. If you’ve spent more than two minutes on here you’d know we are a bunch of sarcastic assholes. You should be asking these questions instead: how do I get in front of prospects, how do I sell, what do I tell people in this market. GK might keep you busy for a hot second but should be like the last thing on your mind. Good luck. 



SHES BACK!!!!!

Hey you :) 
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I Miss Jim View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote I Miss Jim Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 8:25pm
Originally posted by NajaESG NajaESG wrote:

Just started with EDJ as a newbie Advisor this month in Virginia. I am a career changer coming from a military and then Strategy Consulting background.

My offer was 100k base salary, with standard scale down over 4-5 years. 

I am already in the office I will most likely stay at in a multi-FA (two advisor) situation, and the advisor I am paired with is a level 5 with 50-60m in assets.

I am interested in knowing what my Goodknight size will be? I get the sense that they were only going to give me 5-6m based off of my hiring conversations, but couldn't get them to be solid on that number. From what I have read on the forums, such a small GK is a bit of a joke. Is there room to negotiate a higher amount, and how do I go about doing that?

NajaESG

If you have already accepted an offer of employment and started studying, there is basically no ability to negotiate a larger GK. However, Jones almost never does scratch starts anymore so you will get something. If the other FA is a level 5 with $50mm, you can expect about $5mm. And it will be complete dogshit. Trust me on this.

I did a $12mm GK with a new FA when I only had $45mm AUC, but that was highly unusual. I’ve done several more and the quality of the clients increases each time, but the first one was entirely low-revenue time vampires, PITAS, and non-responsive clients. If this is your FA’s first one, you will NOT be receiving good clients. 

However, if you put in the work, have a good attitude and go out of your way to meet your region, you will likely have additional asset-sharing opportunities down the road. It will help tremendously if you are a woman, identify as one, or are dark-complected. If you’re a straight white man, it will be tougher. Just stating the facts. Also, it’s considered bad form to ask for GKs. If you come across as entitled, it will turn people off. Be grateful for what you receive, but remember that a $5mm or $10mm GK is NOT a sustainable business. Build your own, get a fast start, and you may be surprised at the opportunities that come your way.

Agree with the other posters about prospecting using CDs and money market. Rising rates means our brokerage products will be very attractive compared to the rates at your local banks and credit unions. This will be one of the greatest asset-gathering opportunities of your career. Treat it as such. Good luck!



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BullishT View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote BullishT Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 8:54pm
Originally posted by NajaESG NajaESG wrote:

Originally posted by gregsanberg gregsanberg wrote:

Originally posted by NajaESG NajaESG wrote:

I used to make 225k base as a strategy consultant.


In all seriousness...why would you leave $225k and become a financial salesperson?

I lost my Job due to layoffs at the director level at the startup i was working for, my boss, me and 2 other directors were let go within a month of each other. Was unemployed since February. I was driving Uber since May to make ends meet while interviewing literally everywhere I could. Ultimately, I landed on wealth management and financial advising as a career path that interested me. Also, I wish my weeks were only 60 hours, more like 80-90 hour weeks, and it was literally killing me.



There are many ways to build a business but I really believe in working a niche. 

If you came from the startup world, you could absolutely make a niche out of startup employees. Stock compensation pre-IPO is a major financial planning topic for those people. You could look up every pre IPO unicorn in your area and start hitting up the employees 
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BullishT View Drop Down
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Post Options Post Options   Thanks (2) Thanks(2)   Quote BullishT Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 9:00pm
And you could use your own story in your value prop. Something like, I was laid off at a startup and had to drive Uber to make ends meet. That made me realize that people working at startups have unique financial planning needs….etc 
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NajaESG View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote NajaESG Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 9:13pm
I love this advice everyone, thank you!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2022 at 9:29pm
It’s a requirement if you work for edj you must cheer for the brroookkllllyyynnnn nets !
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NajaESG View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote NajaESG Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 7:25pm
In other news, Passed My SIE and 7, working on my 66 now.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 7:52pm
Originally posted by NajaESG NajaESG wrote:

In other news, Passed My SIE and 7, working on my 66 now.

RIP your career
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NajaESG View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote NajaESG Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 7:53pm
*Shrug* Career changer who has to make money some how to pay my mortgage.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote DucatiSportGT Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 8:03pm
Originally posted by NajaESG NajaESG wrote:

In other news, Passed My SIE and 7, working on my 66 now.

First. Congrats. 
Second. What were you doing before? Saw you mentioned your a career changer. 
Third. I'm shocked they gave you a hundred thousand. Shocked. You have no idea how lucky you are to start out with that much. 
Self appointed leader of the chorus.
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spudpotato Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 8:12pm
Originally posted by DucatiSportGT DucatiSportGT wrote:

Originally posted by NajaESG NajaESG wrote:

In other news, Passed My SIE and 7, working on my 66 now.

First. Congrats. 
Second. What were you doing before? Saw you mentioned your a career changer. 
Third. I'm shocked they gave you a hundred thousand. Shocked. You have no idea how lucky you are to start out with that much. 

No doubt. I made 80k - a 50k cut from my previous salary. Sucked. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BullishT Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 8:25pm
Originally posted by NajaESG NajaESG wrote:

*Shrug* Career changer who has to make money some how to pay my mortgage.


If you haven’t already you should read “the million dollar financial services practice” 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CFLRS Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2022 at 9:20pm
Originally posted by BullishT BullishT wrote:


There are many ways to build a business but I really believe in working a niche. 

If you came from the startup world, you could absolutely make a niche out of startup employees. Stock compensation pre-IPO is a major financial planning topic for those people. You could look up every pre IPO unicorn in your area and start hitting up the employees 

This is very good advice. Find your niche!
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