Life as a Financial Advisor

My uncle is a CFP and does really well for himself. He started off in bonds sales now manages the sale of mutual funds and ETFs. I'm not sure how many hours you will be working starting off, but it won't be bad if you enjoy it.

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Weren't you inquiring about entry level positions last week? That is a long way from a CFP. Take it one step at a time. Letters behind your name don't mean anything without clients. Good luck.

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Rookie mistake! Just wanted some feedback from some people close to or familiar with the path/outcome to this position or similarposition

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Rookie mistake! Just wanted some feedback from some people close to or familiar with the path/outcome to this position or similarposition

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No worries. You will be grossly underpaid early on in the career and grossly overpaid later. BTW, Ed Jones is not the way to go in my opinion.

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BTW, Ed Jones is not the way to go in my opinion

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I am looking to try the ML route if I can get in. I have spoken to a few banking people and they feel as though this would be a good route to start.

I am not a CFP, but have been in the business for a little over 10 years. I believe that the ML route for the training, followed by a stop at a bank as a junior broker is a great route. It will allow you to build relationships and get in front of clients. After you feel like you have a good understanding of being an advisor, then you should look at getting CFP and going on your own. The first 3-5 years will be extremely long hours but you will be fairly compensated. After that you will dictate your schedule and income. If you go the managed money route you will be selective of clients, but will probably work with the majority of ideal clients. If you go the commission/transaction route, you will have more clients and will always be chasing new clients. Hope this helps.

I actually am currently studing for the CFP. I work on a non-commission based/salary for financial service provider. I recently thought about moving to a brokerage firm and interviewed with several 'family' friends at the large frims in BR. Word of adivce from all of them was to stay put for at least a few more years. From my understanding, very few can start a book from 'scratch' in the current conditions (unless you are very well connected or get a book to start). My father is in the business and has advised me to do the same. Just keep that in mind as you start your career.

If I were you I would look into starting at a bank. They offer training, they have a client base, and its 'safer'. Other ideas woul dbe to work as on the industry side till you 'cut your teeth'.

The training at the big boys is nice but do not go to work on the commissions side if you can help it. The industry is moving to the RIA model in my opinion.