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Profound View Drop Down
Greenhorns
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Joined: May/13/2015
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    Posted: May/13/2015 at 12:15pm
I am a math teacher/coordinator and have been learning about the stock market the last couple of years.  The formulas are fun and the analytic part of it all is great.  I have been researching a Financial Advisor position because I love learning about stock and think about the possibility of teaching others.  Most importantly I love money.

I thank you for this board and the opportunity to talk to others.  My biggest concern right now is how obviously how to attract high-end clients.  I am in the middle of the interview process with a few firms and love the possibilities but fear those numbers.  Looking for people with $50,000 or $100,000 lying around won't be easy.

What has worked for you guys? 
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Id say you would be perfect for primerica.
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There are quite a few former teachers at Edward Jones. $50,000 to $100,000 is at the low end of what you will be looking for. Sounds like your natural niche is educators. You should talk to Helado, he is a senior member here and might be willing to offer you tips if you go that direction.
“We are all Antifa” - Hacksaw 9/12/2025
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Profound View Drop Down
Greenhorns
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I am in the middle of the process with Edward Jones now.  I have the Virtual Assessment coming up next Tuesday.  I know it will be a lot of hard work and I am ready to do whatever it takes.

Initially I thought I would be targeting anyone willing to invest anything.  Hadn't thought about the fact that I would be working my tail off for accounts that don't put much money in my pocket.  So now I am switching my mindset and trying to figure out ways to get high-end clients.  I understand their motto is door-knocking and I have as much physical and mental stamina as is needed for that.

However, there has to be more to finding people who have $200k just laying in a CD that they would like to invest I would think.  I am very psyched about this possible opportunity but scared I won't meet my numbers. 
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B24 View Drop Down
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Profound, can you share more about your self? Age? Married? Kids? Wife work? Current income?

If you are married and your wife is a career teacher (average income, high stability, good benefits and pension), this could be a perfect career. It's my experience that having a spouse as a teacher or nurse is one of the best complements to this career.
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RichMexican_ View Drop Down
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It sounds like your better suited for an analyst job rather than a sales job. "AKA" F.A.
"Don't throw your pearls to the pigs."
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Profound View Drop Down
Greenhorns
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36, married, 3 kids, wife is a nurse, around 45k
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Originally posted by Profound Profound wrote:

36, married, 3 kids, wife is a nurse, around 45k

The hot kind, or the fat diabetic with mustache kind?
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B24 View Drop Down
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Originally posted by Profound Profound wrote:

36, married, 3 kids, wife is a nurse, around 45k

If you "make it" as an FA, you will destroy your current income. In fact, if you make it long enough, you will make $45K at Jones after a year or two (or the first year easily).

But have a contingency plan. You could get canned after a few months or a year or two. And "working hard" is absolutely no guarantee of success. I know tons of hard-workers that failed miserably because they were just not very good at selling (you know it's a 99% sales job, right?).
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B24 View Drop Down
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Originally posted by SometimesNowhere SometimesNowhere wrote:

Originally posted by Profound Profound wrote:

36, married, 3 kids, wife is a nurse, around 45k

The hot kind, or the fat diabetic with mustache kind?

Fair question.
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The teacher connection could be clutch. Check and see which firms your area's public schools work with. I would apply to all of those firms.

The process of getting added to that list after you start is pretty political in some areas, like my county.
knock knock. who's there? you're new financial advisor
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Profound View Drop Down
Greenhorns
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Thanks for the advice, I will do that. 
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Greenhorns
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So let's say I get the position, work by butt off, do everything that is asked of me.  After earning my series 7/66 I can't meet the numbers.

They fire me.

Is my licensing still good to use at another company for this type of career with another company?


Edited by Profound - May/13/2015 at 3:05pm
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jtp View Drop Down
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Yes. but, in 99% of cases, Jones would only fire a newb for low production or some egregious compliance fuck up. Both of which would make that next job hard to land.

Edited by jtp - May/13/2015 at 3:09pm
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B24 View Drop Down
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Originally posted by Profound Profound wrote:

So let's say I get the position, work by butt off, do everything that is asked of me.  After earning my series 7/66 I can't meet the numbers.

They fire me.

Is my licensing still good to use at another company for this type of career with another company?

Yes, but you could likely find a job at a bank, credit union, or possibly a wirehouse if they just wanted someone that is licensed.

Most firms understand that hurdles are tough. In some cases, this is a good thing for a wirehosue because they already know that you know how hard it is, another firm has already paid to license and train you, all they need to do is hire you and let you go at it.
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Originally posted by jtp jtp wrote:

The teacher connection could be clutch. Check and see which firms your area's public schools work with. I would apply to all of those firms.

The process of getting added to that list after you start is pretty political in some areas, like my county.
 
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luvindy View Drop Down
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Originally posted by SometimesNowhere SometimesNowhere wrote:

Originally posted by Profound Profound wrote:

36, married, 3 kids, wife is a nurse, around 45k

The hot kind, or the fat diabetic with mustache kind?

Please answer
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Profound View Drop Down
Greenhorns
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Originally posted by B24 B24 wrote:

Originally posted by Profound Profound wrote:

So let's say I get the position, work by butt off, do everything that is asked of me.  After earning my series 7/66 I can't meet the numbers.

They fire me.

Is my licensing still good to use at another company for this type of career with another company?

Yes, but you could likely find a job at a bank, credit union, or possibly a wirehouse if they just wanted someone that is licensed.

Most firms understand that hurdles are tough. In some cases, this is a good thing for a wirehosue because they already know that you know how hard it is, another firm has already paid to license and train you, all they need to do is hire you and let you go at it.

I guess Rich Mexican stating I would possible be better at a analyst position.  My feeling is I don't know for sure until I try.  So if I get my series 7/66 and don't sell enough to meet my quota wouldn't that show a firm with an analyst position that I am good at researching portfolios but struggle with knocking on people's doors and asking them to invest in them?
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Profound View Drop Down
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Originally posted by luvindy luvindy wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

Originally posted by Profound Profound wrote:

36, married, 3 kids, wife is a nurse, around 45k

The hot kind, or the fat diabetic with mustache kind?

Please answer





My wife is not fat, diabetic, and doesn't have a mustache.  
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B24 View Drop Down
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Originally posted by Profound Profound wrote:

Originally posted by B24 B24 wrote:

Originally posted by Profound Profound wrote:

So let's say I get the position, work by butt off, do everything that is asked of me.  After earning my series 7/66 I can't meet the numbers.

They fire me.

Is my licensing still good to use at another company for this type of career with another company?

Yes, but you could likely find a job at a bank, credit union, or possibly a wirehouse if they just wanted someone that is licensed.

Most firms understand that hurdles are tough. In some cases, this is a good thing for a wirehosue because they already know that you know how hard it is, another firm has already paid to license and train you, all they need to do is hire you and let you go at it.

I guess Rich Mexican stating I would possible be better at a analyst position.  My feeling is I don't know for sure until I try.  So if I get my series 7/66 and don't sell enough to meet my quota wouldn't that show a firm with an analyst position that I am good at researching portfolios but struggle with knocking on people's doors and asking them to invest in them?


Ummm, no. I don't know why you would be good as an analyst. Ignore Rich Mexican. He's...Mexican.

In order to be an analyst, you need specific education and most likely the CFA. So get that one out of your head for now.

Focus on what you need to do to be a successful FA. Teachers can be very good at it.
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