Big fan of the forum, so thanks in advance.
My question. I have been in the industry now for one month with a major wirehouse. I have seen some things I thought I covered in my research and seen other things that I guess didn't click until I saw them in person, good and bad. The good is the freedom the guys that have been in the industry have and the bad is the cold calling and lack of traction/support the new guys have.
I am still in training so I am pre-production, but I am trying to determine my next step.
I left the technology industry making around $125k before I took this career change. I was paid decently, but the travel was not appealing. So, I had made the decision to take another job and I also then looked into the FA career. I was offered several FA positions, and I picked what I still feel was the best option. The technology sales job that I turned down was about a $20k pay cut but it didn't involve travel - only local.
So, now I have been recontacted my several IT firms wanting me to reconsider. Given that I've seen the new guys bust their tail cold calling for 2-3 yrs and make $100k maybe at year 5 (average), I am wondering if I made a mistake getting into this industry.
The other item at hand is there is a more senior FA that has asked me to partner with him. He has roughly $40 million in fee based assets and is looking for someone to help pound the pavement and sell more for him as he's more the analytical and less sales type (his previous clients were brought over from his previous job at a bank).
So, I realize I have very much skimmed over this, but the question. Stay an FA? If so, go solo or team up? If I team, is there a timeline/percentage goal I should be looking to confirm? Or just go back to IT and realize that $105k-$110k plus the ability to do other things on the side isn't such a bad option.
Oh yeah, my current connections are worth about $750k to $1 million at best.
I realize no one can tell me what to do, but some opinions would be appreciated.