Fastest way to take tests and go indy!
44 RepliesJump to last post
dude that was probably the best post on this thread. Thanks man.
Could I ask what platform do you work in? wire, bank, indy etc..
[quote=NASD Newbie]They will guarantee that Mrs. Jones can withdraw a certain amount from her own money if she pays them an additional fee? What a deal.
Suppose Mrs. Jones has $1 million in CDs that are going to mature in the next six months. She is age sixty, widowed, wants to leave the $1 million to her three kids who have no visible need for their inheritance before 2026.
How is this family better served with a Variable Annuity than by simply moving into the 2026 Treasury bond market at the CDs come due?[/quote]
I'm going to go out on a limb here and suggest that the VA will probaby be worth quite a bit more than the treasury at the end of 20 years, even considering a 5% withdrawal rate from the VA.
indy thank you for the reply, I will take your advice just for the sole reason of your sincerity.
so now lets change the topic of the thread.
Where would be the best place to work initially while in the back of your mind you know you are going independent as soon as possible.
If being a solo act is what you really want, I echo dudes' thoughts. Go to a wirehouse and learn as much as you can. You need to look at it like going to school. You have to pay to go to college and you're going to have to pay to learn this business. Nobody rides for free.
[quote=brothaK]
indy thank you for the reply, I will take your advice just for the sole reason of your sincerity.
so now lets change the topic of the thread.
Where would be the best place to work initially while in the back of your mind you know you are going independent as soon as possible.[/quote]
This may surprise you, but given what you've told us, I'd look at Edward Jones or Raymond James.
[quote=brothaK]
dude that was probably the best post on this thread. Thanks man.
Could I ask what platform do you work in? wire, bank, indy etc..
[/quote]
I have worked in wirehouse and bank channels and honestly, this is hard to say.......I may be on my way out after 4 years in the biz, despite having all the attributes you mentioned *plus* GOOD LOOKS to boot:
DO NOT underestimate the challenge of this work, and it is only getting harder. Even for us smart, buff and *ahem* humble guys.
That guy was on TLC last night. His arm literally blew up and doctors had to cut part of the muscle out to get rid of an infection…fascinating…and gruesome.
[quote=brothaK]lol… tooo sexy
indyone: why do you suggest working for edjones or rjfs?[/quote]
Jones will teach you to prospect, and does not have a non-compete...only training cost reimbursement if you leave too quickly. From what I understand, there's no reimbursement if you leave at say five years. Also, you get your own office, so it has an "indy" feel, even though you are a W-2 employee.
RJ because they will allow you to eventually go indy inside the firm...don't even have to leave.
[quote=dude]You were watching me on TV last night?[/quote]
Only if you're admitting massive steroid use! I can't recall his name, but I'm pretty sure it wasn't Dude"...
Brothak:
I somewhat disagree with indyone on the Ed Jones idea. If you can't get into a wirehouse then fine, but if you can get in to a wirehouse you will be light years ahead in education and hopefully have some successful 'vets' to model yourself after....in addition to being current in the world of investments (Ed Jones is disgustingly archaic compared to the wirehouses).
[quote=dude]Brothak:
I somewhat disagree with indyone on the Ed Jones idea. If you can't get into a wirehouse then fine, but if you can get in to a wirehouse you will be light years ahead in education and hopefully have some successful 'vets' to model yourself after....in addition to being current in the world of investments (Ed Jones is disgustingly archaic compared to the wirehouses).[/quote]
True...I was just thinking of firms that were relatively easy to escape from, and I was under the impression that most wirehouses have non-expiring non-compete agreements.
[quote=Indyone][quote=dude]Brothak:
I somewhat disagree with indyone on the Ed Jones idea. If you can't get into a wirehouse then fine, but if you can get in to a wirehouse you will be light years ahead in education and hopefully have some successful 'vets' to model yourself after....in addition to being current in the world of investments (Ed Jones is disgustingly archaic compared to the wirehouses).[/quote]
True...I was just thinking of firms that were relatively easy to escape from, and I was under the impression that most wirehouses have non-expiring non-compete agreements.
[/quote]
You must be aware that is is hard for firms to enforce the non-compete's right? Lest there would not be the brokerage recruiting industry or such a focus on managers being recruiters. Admittedly this is among the big firms. I have no clue about jumping from wire to indy though.
[quote=Indyone]
[quote=dude]You were watching me on TV last night?[/quote]
Only if you're admitting massive steroid use! I can't recall his name, but I'm pretty sure it wasn't Dude"...
[/quote]
Well I'm sure your name ain't 'indyone' now is it?
Come on kid--don't choose what to do with your life from a message board.
Please tell me you're brighter than that.
Also, do you suppose that all you have to do is walk into a Ray Jay office and the manager is going to wet his pants in anticipation of hiring you?
Have you given any consideration to the relative difficulty of attracting clients in a protracted bear market? It is possible that the market could go down for ten or more years--it's long overdue for something like that.
Go ask an older person what Wall Street types mean when they say, "No tree grows forever."
Also, while you're at it ask what they mean when they say, "If the ducks quack you gotta feed them." Then post if for me see and send it to me by PM too in case I miss it.