F/up to "Thinking about leaving the biz"

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Chris Hansen's picture
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Joined: 2007-07-22

If you recall I started a thread a few weeks back about home I was thinking about leaving the business. I admit that I have backed off of those comments but some of the same sentiment remain.
I recently became enamored with the thought of managing a branch and moving up the regional latter as a producing manager. If need be, I'd reliquish my book and be a non producing manager.
Why? Well I do enjoy the industry, specifically the pace. But everyday - more and more I become disenchanted with my current clients and the prospects. The jaded attitude towards the economy, being proactive and making a decision wear on me.
So my question is this. I'm going to study for my 9/10. Once I'm ready to take the test I'll have to ask my regional admin to open a window for me with the NASD. Should I disclose my intentions to do this now, or wait?
There are no open(ing) positions that I'm aware of in branch management with my firm however I want to be prepared if the situation arises with my current firm or elsewhere.Thoughts?

jackbauer's picture
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Joined: 2007-08-17

I would suggest going indypendent.  I had the same situation with a brokerage firm. I wanted a change of pace and to better serve my clients.  I was able to hire my own admin and a jr broker to take care of the "parts of the job I did not like." that was a few years ago and I am very happy.  Delegate the "toilet cleaning" to someone else.  Once you ask for permission to take an additional test your employer will start watching you like a hawk,, definately use the line,"I want to be prepared if the situation arises with my current firm or elsewhere."  Good luck.

troll's picture
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Joined: 2004-11-29

It's ladder not latter and it's independent not indypendent.
That said, it is a waste of time to study for the 9/10 because your firm will not sponsor you for it unless you have, in fact, been tapped for the management track.
There is simply too much exposure to compliance issues if regular reps have managerial qualifications--you'll find that taking a Series 4 is strongly discouraged, even though options are your passion.
As somebody who took the road Chris Hansen is talking about I know exactly where he "is coming from," and I agree with it entirely.
It's just the cart and the horse deal.  You don't need a 9/10 (and should not get it) unless you are in management, and the odds are slim to none that a significant firm will sponsor you for it until you are.
It's like studying for the Series 7 in hopes of getting a job because you have it.  The reality is that passing the exams is a qualification that comes way down on the list.
Good luck Chris.  If you're really interested ask your branch manager if you can buy him/her a drink after work one day and talk about it.  You'll be told if he sees you as management material.
I'd suggest that you approach your local manager with the idea that you'd like to join the regional staff, or that your family situation may be about to require that you relocate and you'd like to use that event as an opportunity to make yourself more useful to the firm.
Finally, try to get a grasp on what duties are done at the regional level and how you fit into those duties.  You never know when somebody in one of those slots will be moving on for a variety of reasons.
If this forum holds true to its history the peanut gallery will begin to flame you by noon--but keep the faith.
And keep catching those predators too.

troll's picture
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Joined: 2004-11-29

Chris Hansen wrote:
If you recall I started a thread a few weeks back about home I was thinking about leaving the business. I admit that I have backed off of those comments but some of the same sentiment remain.
I recently became enamored with the thought of managing a branch and moving up the regional latter as a producing manager. If need be, I'd reliquish my book and be a non producing manager.
Why? Well I do enjoy the industry, specifically the pace. But everyday - more and more I become disenchanted with my current clients and the prospects. The jaded attitude towards the economy, being proactive and making a decision wear on me.
So my question is this. I'm going to study for my 9/10. Once I'm ready to take the test I'll have to ask my regional admin to open a window for me with the NASD. Should I disclose my intentions to do this now, or wait?
There are no open(ing) positions that I'm aware of in branch management with my firm however I want to be prepared if the situation arises with my current firm or elsewhere.Thoughts?

Another thing Chris.  Never say that you do not enjoy making decisions.
This is a thankless business in that you will be blamed for every wrong suggestion you make and not given credit for the correct ones--that goes with the territory.
But beiing on the management side requires that you be comfortable making decisions.
If you'd like to discuss this more PM me.  As I've said, I've been where you seem to be and admire your honesty.
The street needs more of you and less of the blowhards barely doing enough production to justify their desks.

troll's picture
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Joined: 2004-11-29

Ferris Bueller wrote:
^^^^Datwo, Datoo, Put Trader, troll^^^^
Nice try putsy

Can't get a thing past you.  Why are you not working at this time of day?

Indyone's picture
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Joined: 2005-05-30

I wonder if he's been back to the regreps site recently...

Chris Hansen's picture
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Joined: 2007-07-22

Mister Trader wrote:Chris Hansen wrote:
If you recall I started a thread a few weeks back about home I was thinking about leaving the business. I admit that I have backed off of those comments but some of the same sentiment remain.
I recently became enamored with the thought of managing a branch and moving up the regional latter as a producing manager. If need be, I'd reliquish my book and be a non producing manager.
Why? Well I do enjoy the industry, specifically the pace. But everyday - more and more I become disenchanted with my current clients and the prospects. The jaded attitude towards the economy, being proactive and making a decision wear on me.
So my question is this. I'm going to study for my 9/10. Once I'm ready to take the test I'll have to ask my regional admin to open a window for me with the NASD. Should I disclose my intentions to do this now, or wait?
There are no open(ing) positions that I'm aware of in branch management with my firm however I want to be prepared if the situation arises with my current firm or elsewhere.Thoughts?

Another thing Chris.  Never say that you do not enjoy making decisions.
This is a thankless business in that you will be blamed for every wrong suggestion you make and not given credit for the correct ones--that goes with the territory.
But beiing on the management side requires that you be comfortable making decisions.
If you'd like to discuss this more PM me.  As I've said, I've been where you seem to be and admire your honesty.
The street needs more of you and less of the blowhards barely doing enough production to justify their desks.

Thanks but I think you misunderstood the post. Its not me who doesn't enjoy making decisions. I wish I had discretion on all accounts. Its the clients who drag their asses on making a decision despite my best efforts to convince them that this is a worthwhile transaction. Otherwise, thanks for the info.

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