Why did you become a Reg Rep?
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Just wondering, what was the motivation for joining this industry?
In my Junior year of college I had an idea of joining the industry from watching an insurance salesman. My choices were become a CPA and bust my butt the rest of my life or become a salesman - easy choice. I didn’t look at being a broker as a choice for greater wealth, I looked at it as the best choice for quality of life. I’m 40, been doing this for 15 years and wake up every day looking forward to coming to work. I absolutely LOVE IT. The funny thing is that I’d say I do about 10 hours of WORK a week - the rest is just talking with friends about a subject I love.
That’s pretty much why I did it. I knew I could make money, but I was more focused on being comfortable and having a comfortable lifestyle in a job that I love. Of course, I have a ways to go before any of this comes true, but hey, you gotta start somewhere!
I just sort of fell into the career. I was a commercial lending officer at a regional bank. The bank that I was at decided that since we had all of the business and business owner's financial information including investments that it would be a good idea if we comercial lenders were licensed for securities and for life insurance. Their idea was that we would have a better idea of what they had in their portfolios and the risks that they were exposed to and, hopefully, also be able to offer our services as investment advisors. Commercial lenders can require the business owner to have a life insurance policy on which we can take an assignment to cover the loan as a back up collateralization. I did this quite often. As agents we could write the policy if they didn't already have one.
Over time I become more and more interested in the advisory side of the business and when the opportunity came I went full time into that. I found that I really enjoyed working with clients in the investments much more than the commercial lending. Being a lending officer, you sometimes feel that you are in an adversarial position to the client. However, being a financial advisor you are more on their same side. That was 20 years ago. I love what I do and the quality of life is great.You are so Silly!It was either this or be a rock star. I don’t like heroin so that made the decision easy!
I saw a local Joneser working 20 hours a week and making $300K+.
The thing I failed to realize was that he took over a $50 million book 15 years ago and has gathered the assets of numerous failed FAs in the area almost every year since. Oops...While the money is definitely a close second for me and a prerequisite for any position, I chose the role as a quality of life move. As a former college faculty member, I realized that I was in the role not for a desire to teach (I actually dislike teaching quite a bit) but for the freedom of schedule and general quality of life. I’ve found those aspects to be eventually much better as an advisor. Other advantages are that I am dealing with mature adults rather than entitled children as well as the ability to choose my geographic location rather than having an opening in my field dictate it. This is by far the best second or transitional career and depending on what you’re after the best career in general.
As a hunting guide in Montana I decided to spend some time in Vegas during the off season. So I loaded up my dogs, Hug and Tug, and drove the pick up to the Desert Inn.
First I lost all my money. Then I lost the truck. Finally, I lost the dogs. And they were good dogs! Being penniless as well as dogless, well, what else was I to do? I walked into a local Dean Witter office and the rest is, as they say, history.[quote=babbling looney]
I just sort of fell into the career. I was a commercial lending officer at a regional bank. The bank that I was at decided that since we had all of the business and business owner's financial information including investments that it would be a good idea if we comercial lenders were licensed for securities and for life insurance. Their idea was that we would have a better idea of what they had in their portfolios and the risks that they were exposed to and, hopefully, also be able to offer our services as investment advisors. Commercial lenders can require the business owner to have a life insurance policy on which we can take an assignment to cover the loan as a back up collateralization. I did this quite often. As agents we could write the policy if they didn't already have one.
Over time I become more and more interested in the advisory side of the business and when the opportunity came I went full time into that. I found that I really enjoyed working with clients in the investments much more than the commercial lending. Being a lending officer, you sometimes feel that you are in an adversarial position to the client. However, being a financial advisor you are more on their same side. That was 20 years ago. I love what I do and the quality of life is great. [/quote] I did it for a little different reason, I'm an ex-vaccume salesman. A network on TV followed me around for a week. I thought they liked me for my personality, but they were doing a show about how pushy salesmen are. I looked real nice and handsome in it, but it made me look like I was just in it for the money, and I wasn't, I like working with people and selling them the best vaccume money can buy.Plus they got a free CD about Ron Paul that I paid for myself! PS You are one long winded woman! Bet you never sell anything.[quote=saul4paul]
I'm an ex-vaccume salesman. [/quote] Even an "ex-vaccume salesman" should know how to spell vacuum.[quote=ExPropTrader][quote=saul4paul]I’m an ex-vaccume salesman.
[/quote] Even an "ex-vaccume salesman" should know how to spell vacuum. [/quote]Except for when the so-called ex-vacuum salesman is simply a troll, and not a very creative one at that.
I was a military cop for over 25 years. I started that line because I wanted to help people. Now time-can do the same thing and not worry about being shot or being a bad a$$-and I help more people in one day than I did in a month as a cop. True, can’t kick down doors just because they don’t answer but I can say that when I leave their house there are no bad feelings. I can truly provide them with something they need and it never makes me feel bad to knock on their door (EJ kool-aid bashers bite me)