I am re-introducing myself so that I can qualify my question.
I am a midwest, Fixed Income Trader. I have about 9 years experience in financial services field, mostly doing the selling TO licensed reps. I am looking to transition into a career for an FA.
I am noticing this big push in the industry to only take clients with a minimum of 100k. It does seem to be a wirehouse or firm who doesHNW qualifier. So, please tell me, how does one find this type of investor? Do you cold call? Does the reputation of your firm connect you with this type of person? What is it?
I am just curious because this would seem to be difficult for a newbie to obtain initially. Also, I notice only about 15-20% of the reps that I work with have accounts in the six digit worth, and I do a more HNW product.
So, what's everyone's thoughts?