CPA looking to change to FA for easier job

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careerchngr's picture
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Joined: 2010-02-24

Just kidding, just trying to get your attention.  Not a CPA, but am a career changer.  I have 'roogled' the forum for information here, which has been very helpful,  but was hoping for some more insight to my situation (not that it's particularly unique, but my mom says I'm 'special').

 
Moved from MD to PA about 2 years ago.  Had a small service business in MD prior to moving and have since been a stay at home father.  Being Mr. Mom has been rewarding, challenging, and an overall great experience, but It is tough living on wifes mid level income.   Posted resume on careerbuilder and was quickly contacted by several insurance companies...chose to interview with NY life.  Went through 2 f2f interviews, final would have been this afternoon had I not cancelled.  I realized that to really help people financially, I would want to offer a broader range of non-proprietary products.  I also didn't like that they offer $0 until products are sold.  
 
After my second interview I did some more research and felt like becomming a FA would be a much better fit for me.  I sent EJ a resume saturday and stopped by an office monday to chat with an FA.  I had an infant and a 2.5 yr old with me at the time and really stopped by just to introduce myself and see if there would a convenient time to sit down and ask him some questions.  He was accomodating and kind enough sit down with me and weather the distractions of an active 2.5 yr old long enough to tell me a bit about EJ and answer some of my questions.  He forwarded my resume on and a recruiter called today, coincidentally as I was completing the online assessment while cradling the infant.....so I wasn't able to pick up the phone.  I'll return the call shortly. 
 
Some questions:
 
I noticed that there seems to be a few EJ offices not too far from each other.  For all you EJ guys...How does this effect your business when someone new comes along?
 
Being that I'm new to the area, without any significant network, I know that I will have to work hard to build a book.  EJ is big on doorknocking, how have some of you other guys built from scratch?  I know, I know, 'roogle it you newb!?  Please humor me, If I spend too much time 'roogling', the older boy will have butt paste smeared all over the faces of he and his brother.
 
Are there other firms that I may want to contact that would be receptive to a career changer while possibly providing some sort of honeymoon income and good training?
 
I noticed some of you work for banking institutions, what might be a good postion to look for with one?
 
Thanks in advance for replies, please keep the smart*** comments to a maximum.
 
 

careerchngr's picture
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Joined: 2010-02-24

Also, is there anyone out there that would like to unload any study material (life & health, series 6,7, 6?)  Not looking for handouts, I now have a half used tube of butt paste to trade.

Mr.Blonde's picture
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Joined: 2009-10-06

careerchngr wrote:Just kidding, just trying to get your attention.  Not a CPA, but am a career changer.  I have 'roogled' the forum for information here, which has been very helpful,  but was hoping for some more insight to my situation (not that it's particularly unique, but my mom says I'm 'special').

 
Moved from MD to PA about 2 years ago.  Had a small service business in MD prior to moving and have since been a stay at home father.  Being Mr. Mom has been rewarding, challenging, and an overall great experience, but It is tough living on wifes mid level income.   Posted resume on careerbuilder and was quickly contacted by several insurance companies...chose to interview with NY life.  Went through 2 f2f interviews, final would have been this afternoon had I not cancelled.  I realized that to really help people financially, I would want to offer a broader range of non-proprietary products.  I also didn't like that they offer $0 until products are sold.  
 
After my second interview I did some more research and felt like becomming a FA would be a much better fit for me.  I sent EJ a resume saturday and stopped by an office monday to chat with an FA.  I had an infant and a 2.5 yr old with me at the time and really stopped by just to introduce myself and see if there would a convenient time to sit down and ask him some questions.  He was accomodating and kind enough sit down with me and weather the distractions of an active 2.5 yr old long enough to tell me a bit about EJ and answer some of my questions.  He forwarded my resume on and a recruiter called today, coincidentally as I was completing the online assessment while cradling the infant.....so I wasn't able to pick up the phone.  I'll return the call shortly. 
 
Some questions:
 
I noticed that there seems to be a few EJ offices not too far from each other.  For all you EJ guys...How does this effect your business when someone new comes along?
 
Being that I'm new to the area, without any significant network, I know that I will have to work hard to build a book.  EJ is big on doorknocking, how have some of you other guys built from scratch?  I know, I know, 'roogle it you newb!?  Please humor me, If I spend too much time 'roogling', the older boy will have butt paste smeared all over the faces of he and his brother.
 
Are there other firms that I may want to contact that would be receptive to a career changer while possibly providing some sort of honeymoon income and good training?
 
I noticed some of you work for banking institutions, what might be a good postion to look for with one?
 
Thanks in advance for replies, please keep the smart*** comments to a maximum.
 
 
 
Butt paste? I can see why you want to go back to work, stay at home Dad isn't really your thing.

Moraen's picture
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Joined: 2009-01-22

Awesome post career changer.. you'll fit right in.And no, I can't help.

Roxie's picture
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Joined: 2009-10-19

careerchngr wrote:Just kidding, just trying to get your attention.  Not a CPA, but am a career changer.  ... my mom says I'm 'special').

 
 
Are there other firms that I may want to contact that would be receptive to a career changer while possibly providing some sort of honeymoon income and good training?
 
I noticed some of you work for banking institutions, what might be a good postion to look for with one?
 
Thanks in advance for replies, please keep the smart*** comments to a maximum.
 
 
 
Seems like EJ is a blend between the traditional and self employed and that might fit well with having young kids, but they say the hours are long no matter what.  Jones gives you flexbility of when to work those hours.
 
Banks may have a tendancy to lock you down in the hours you work area- lack of flexibility of when.
 
Others have pointed out that one can often make a bit more right out of the bat with an ins lead vs investment lead (prospect).  Do you prefer defensive (ins) or offesive (inv) strategies? 
 
Special??  Hey, my mom said the same thing to me... I might call her right now.
 
Best of luck.

Incredible Hulk's picture
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Joined: 2006-03-24

Mr. Blonde - no kids, huh? I believe he is referring to Boudreaux's Butt Paste. It's a diaper rash cream and comes in an easily squeezable tube - perfect for toddler hands.

Mr.Blonde's picture
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Joined: 2009-10-06

That's hilarious, I had no idea, I've got 2 kids, we used Penanten cream though.

Anonymous's picture
Anonymous

I use it for a far different reason

Vikram Pandit's picture
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Joined: 2010-01-23

mlgone wrote: I use it for a far different reason

Are you going to let San Fran Broker give the details?

careerchngr's picture
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Joined: 2010-02-24

After further review of this board and glassdoor, I have decided to pursue a position with Morgan Stanley.  I visisted a branch and sat down with two FA's to hear their stories.......really interesting.  Both are very succesful.  One built his business by cold calling, the other by networking and specializing in corporate 401k's.  Both made it clear that it is a difficult business to start out in.      Made it through the online tests and have an interview scheduled friday with a BM.  I still may schedule an interview with EJ, just to hear them out and see what might be available as far as a GK or open branch.  Declined interview with Northwestern Mutual......too much like NY life.
 
If I do land as an FA and pass the 7, am I allowed to do business in other states? 

Anonymous's picture
Bobby Hull (not verified)

Quote:After further review of this board and glassdoor, I have decided to pursue a position with Morgan Stanley.  I visisted a branch and sat down with two FA's to hear their stories.......really interesting.  Both are very succesful.  One built his business by cold calling, the other by networking and specializing in corporate 401k's.  Both made it clear that it is a difficult business to start out in.      Made it through the online tests and have an interview scheduled friday with a BM.  I still may schedule an interview with EJ, just to hear them out and see what might be available as far as a GK or open branch.  Declined interview with Northwestern Mutual......too much like NY life.
 
If I do land as an FA and pass the 7, am I allowed to do business in other states? 

Quote:Who cares? Go away.

PremierAdvisor's picture
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Joined: 2009-07-22

Well thanks for the update.  I said to my wife the other day, I wonder what happened to that CPA that posted in the rookie forums about a career change.  We've been on pins and needles ever since.  We can relax now that we know.

careerchngr's picture
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Joined: 2010-02-24

Quote:Quote: 
Quote:Who cares? Go away.
  
Apparently you cared enough to read it and reply, you douche.  

Roxie's picture
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Joined: 2009-10-19

Congratulations and best of luck.  If you are open to a suggesion, interview with everyone, you learn something every time.   I am biased as I do like EJ too.
 
For licensing, they will probably license you as needed for any state you are pitching to.

Wet_Blanket's picture
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Joined: 2008-11-13

Yes, you just need to get registered in that state.  Usually firms make you pay for that.

careerchngr's picture
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Joined: 2010-02-24

Quote:Well thanks for the update.  I said to my wife the other day, I wonder what happened to that CPA that posted in the rookie forums about a career change.  We've been on pins and needles ever since.  We can relax now that we know. 
 
You are welcome Premier, however I am now on pins and needles over your poor reading comprehension and inability to discern humor.  I am not, nor ever was a CPA......I have a personality.

PremierAdvisor's picture
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Joined: 2009-07-22

CPA, janitor, sandwich artist, it matters not.  What matters is that no one cares.
And my lack of proofreading skills didn't prohibit me from making 500K last year in w-2 wage, but thanks for concerning yourself.

careerchngr's picture
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Joined: 2010-02-24

Thanks Roxie, WB.
Awesome Premier!  I feel like such a schlep now with my $0 last year.  Maybe one day I'll be as successful as you, then I can troll around "rookie and trainee" forums looking to bash newbs just to feel better about myself. 

richchick's picture
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Joined: 2008-02-06

careerchngr - My .02 is that it is tough to get started in this business no matter what, especially if you are what we call "newnew" at Jones (vs. getting an office or a goodknight plan with an existing broker.) Jones is the best name in the business after all of the drama and failure of our major competitors in the last 2 years. I talked to a fellow Jones broker today who put it well: The first five years we are grossly overworked and underpaid for the effort, the next 5 years are about even, the next 5 years we are overpaid for the effort (I'm  hoping for this, at least).  90% being a people-person, good communication/relationship skills and 10% product/financial knowledge. You absolutely must have a rock solid self-esteem, support from spouse, crazy good work ethic, and enough money to get you by for your first years if you are starting from scratch. Good luck! -- rc

MovingUp's picture
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Joined: 2010-02-20

Quote:CPA, janitor, sandwich artist, it matters not.  What matters is that no one cares.
And my lack of proofreading skills didn't prohibit me from making 500K last year in w-2 wage, but thanks for concerning yourself.
 Yeah, right.

Moraen's picture
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Joined: 2009-01-22

Quote:careerchngr - My .02 is that it is tough to get started in this business no matter what, especially if you are what we call "newnew" at Jones (vs. getting an office or a goodknight plan with an existing broker.) Jones is the best name in the business after all of the drama and failure of our major competitors in the last 2 years. I talked to a fellow Jones broker today who put it well: The first five years we are grossly overworked and underpaid for the effort, the next 5 years are about even, the next 5 years we are overpaid for the effort (I'm  hoping for this, at least).  90% being a people-person, good communication/relationship skills and 10% product/financial knowledge. You absolutely must have a rock solid self-esteem, support from spouse, crazy good work ethic, and enough money to get you by for your first years if you are starting from scratch. Good luck! -- rc
 
Richchick - you are drowning in kool-aid.

PremierAdvisor's picture
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Joined: 2009-07-22

Quote:Don't worry Premier Advisor is a dick.   

Thank you

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