Raymond James and FAs in general

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quote:

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Is being a successful FA about being a good salesman just as much as knowing investments?

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Every year this statement gets further from being true. 10 years ago, absolutely. Now, rules and regulations being passed down from government are forcing the professionalization of the industry.

Necessity for CFP certifications and knowledge of planning related issues is quickly on the rise.

RJ is a good firm, and they give you flexibility to do run your practice as you want. They have a traditional wirehouse model like Merrill or Morgan and they also have an independent channel.

Everyone I’ve heard speak on RJ says the research is top notch. The research comes at the expense of a lower payout (compared to others in the independent space).

90k probably encompasses everyone- from the new FA to the 30 year veteran who has a huge office to the 15 year old guy who treats his business like a vacation to the beach.

If you are a go-getter with business, there’s no way you don’t make 100k in your second-third year.

My firm has independent portfolio managers as well as an affiliated Raymond James financial advisors.

98% sales is correct. We do have a CFP that knows their stuff. The rest just follow whatever RJ spits out.

Interns being brought up that lack investment skills are directed toward Raymond James. RJ then puts them through a training course that is virtually how to lead a sales pitch. The FAs are then advised to lean heavily on the research department. They are perfectly fine for mutual funds but the individual stock selection leaves a lot to be desired and is outsourced mostly to Credit Suisse.

Money is very good though. A lot higher than $90,000. I say the lowest paid is double that.