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Financial Advisor??????
- Thread starter asd123
- Start date
Quote from Vinny1:
LOL...so basically getting into financial sales is a waste of time unless you know wealthy people?
No. but it sure does help. I know a guys that used to own a very successful clothing store in town that everyone knew (didnt hurt that he was jewish). After selling his store...became a broker. I believe he generated about $2,000,000 per year in commissions.
retail sales is almost never a good career stepping stone. I had a hard time overcoming being a retail broker to step into something more professional. There is almost no difference between insurance sales and a stockbroker....and everone hates insurance salesmen!
....but if you are aggressive...you can always make money.
Quote from Vinny1:
These people must get plenty of sales calls everyday from different brokers.Each broker is not much different than the next one to call.With free research on the net and discount brokers,why work with a full service broker?
Not everybody likes this stuff the way we do. they dont want the hassle of dealing with it, or they like to deal with a human for a second opinion. Anyone can do their own taxes and accounting too....but normally they use a service becuse they hate to screw with it. Pretty much anyone can remodel their house as well...but not everyone is a "do it yourselfer". Some people mow the lawn...I frigging hate it...i have a gardener.
My father is like that....he wants to give me all his money just so he has it with someone he trusts.
It's a tough business to crack into if you don't have some friends/family with big pocketbooks ready to invest. I started when there was not a do not call list and that helped. Now, with that list, your prospect list has gotten very small.
In addition, as firms get hit with more and more fines, those fines ultimately get passed onto their brokers. The main office is always very good at explaining why your compensation is going down, but it has nothing to do with that multi, multi million dollar check they just cut to the SEC.
It is important to note that being a trader and a sales person, I mean broker, are very different. Don't expect to be a trader, just trading other people's money at a firm. Your job is to SELL.
In addition, as firms get hit with more and more fines, those fines ultimately get passed onto their brokers. The main office is always very good at explaining why your compensation is going down, but it has nothing to do with that multi, multi million dollar check they just cut to the SEC.
It is important to note that being a trader and a sales person, I mean broker, are very different. Don't expect to be a trader, just trading other people's money at a firm. Your job is to SELL.
Quote from brownsfan019:
It's a tough business to crack into if you don't have some friends/family with big pocketbooks ready to invest. I started when there was not a do not call list and that helped. Now, with that list, your prospect list has gotten very small.
In addition, as firms get hit with more and more fines, those fines ultimately get passed onto their brokers. The main office is always very good at explaining why your compensation is going down, but it has nothing to do with that multi, multi million dollar check they just cut to the SEC.
It is important to note that being a trader and a sales person, I mean broker, are very different. Don't expect to be a trader, just trading other people's money at a firm. Your job is to SELL.
this is 100% correct. you will throw your brain out the window. you will be highly encouraged only to sell very safe products, to keep the firm out of court.
You will be almost completely detached from the market really...It is 100% sales...about 0% trading , technicals..e.tc.