Newb
Printed From: Advisorheads
Category: Introductions
Forum Name: Greenhorn Introductions
Forum Description: MAKE YOUR FIRST POST HERE!
URL: http://www.advisorheads.com/forum_posts.asp?TID=3005
Printed Date: Mar/26/2026 at 11:16pm
Software Version: Web Wiz Forums 12.03 - http://www.webwizforums.com
Topic: Newb
Posted By: Thanasi
Subject: Newb
Date Posted: 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 ! |
Replies:
Posted By: RIArules
Date 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.
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Posted By: Thanasi
Date Posted: May/11/2011 at 6:06am
| Thank you |
Posted By: Iamlegend
Date Posted: May/11/2011 at 7:52am
| 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. |
Posted By: moneyguy
Date 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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Posted By: Ron 14
Date Posted: May/11/2011 at 7:22pm
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RIArules wrote: