Financial Advisor Industry

I am considering entering a financial advisor training program at one of these large banks. I was told that the washout rate for new FA's after 2-3 years was pretty high (over 60%), since you have to be able to attract a fair number of clients to make it and many new FA's fail to do so. My question is, if I fail as an FA (which, given the odds, seems likely) is it possible or easy for me to take whatever I learned as an FA and whatever certifications I may have achieved and transition into some other position in the financial industry, other than being an FA somewhere else.

Yes, you could transition easily but you will have the same problems AND this type of business is built on recurring commissions and loyalty and referrals. Even if you feel you are good at it, it takes a while to make decent money, you will need a good support group to help you through. It is a sales job.

2007-07-27 13:01:19 by Gerald F

Investment Protection Fund, The Investment Industry Regulatory Organization of Canada or IIROC and The Investment Industry Association of Canada ...

And with Citi and Bank of America offering stocks to be healthy with future stress tests and pay back stimulus funds to the government, would common stocks be diluted and impose more risks to investors like us?

Thank you for sharing your assessment on the financial industry. It saves me a trip to my T Rowe Price financial advisor.

What "impending changes"? Don't make me laugh. It's business as usual!

We have here a series of half-measures, most of which will not even pass Congress. What will pass is some fluff to cover the eyes of the Americans that wanted some bankers heads to fall.

No word anymore about bonuses or banker's salaries. No obligation for banks to finance the economy. No help for households with severe debt problems and harassed by the banks.

Power is back in the hands of Wall Street. Proof: nine banks were allowed to pay back the money they borrowed from the govt. (tax payer's money!) without any obligation in return.

Yeah, Obama is creating new controlling agencies. But we had those already, didn't we? The most important one is called the SEC. Where were they *before* the crisis? Not doing its job, in any case. The crisis was provoked by the non-application of already existing regulations.

The result is that the US is now virtually bankrupt. But Wall Street of course, is still in power. So don't worry about your stocks. Until the next crisis of course.

2009-06-18 08:27:52 by Thầy tướng số

Price: $34.95

I've gone to 3 seminar/meetngs about 3 different companies that make you think you'll be making lots of money, going on trips, and what not. But I notice few things in common. They want $100 to get started. They want you to bring all your friends family and what not. And some of the people there aren't even close to making what the speaker just said people will be making. But then again I've camed a crossed few people that had made a fortune in it. Why is that? What's the key to succeeding in the Financial industry?

those sound like scams to me.....or very shady at the very least. why would YOU pay someone to work for them?
and the reason they want you to bring all your friends and family is so they can try to sell them the same idea too (ie; get their $100 also). sure that guy might make a lot of money, but he's doing it by scamming people out of their $100.

if you want to be a financial advisor, go to a reputable firm like merrill lynch, prudential, .... or even your neighborhood citibank of chase and apply to them.

good luck!

2007-04-20 12:55:14 by KB24

Price: $44.95

This would cover background checks on an individual including:
- bankruptcy check
- criminal and civil check
- credit check
- better business bureau check
- securities/exchange commission check
- checks with federal, state and private agencies
- state securities department check
- dept. of insurance check
- professional license check
- financial industry regulatory authority check

What would this background screening be worth to you?

$30 for 3 years of unlimited background check is all I HAVE PAID.

I already have a subscription at http://www.netdetective.com/ - it's $30 for 3 years and the largest database out there (3.1 billion records) with unlimited searches for 3 years.

It's the best site out there, used by private investigators all the time.

I would never pay more than that and what's great is you can use it over and over for 3 years for no extra.

2008-11-04 13:23:53 by stephanie d

I have a lot of experience within the financial services industry(trader and analyst), but new to the financial advisor role. I am looking for the best way to build a sizeable book of business. I have also talked to some people from LPL about joining their practice.

With all of my experience I feel that Lincoln or LPL would be better than going with a wire house.

Thanks in advance.

get a first hand experience.

2006-09-28 20:01:34 by Wanta be a hedgie