Relocating every 2 yrs, wirehouse v. bank
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I guess that being a superior human being doesn't translate into reading comprehension.
[quote=anonymous]
I guess that being a superior human being doesn't translate into reading comprehension.
[/quote]
You keep refusing to respond to the simple question, if a client moved to another city would you be able to maintain a relationship with them?
Give it a try.
[quote=wendy]
[quote=JCadieux]I’ve helped a lot of FAs who have to relocate. The big problem is that your income drops significantly every time you move because you’re starting over.
[/quote]
Being new to the business, why would your income drop if you relocate within the same company but just to a different branch? Can you take your book of business with you to the new branch?
Thanks for your help!
Your income would drop because at least a few of your clients would prefer to deal with a local broker.
Also, when you relocate you leave a lot of valuable referral relationships behind. You would have to start over building your network.
I'm not saying it's impossible. The actual dip would depend on a lot of factors (choice of firm, distance, your target market, willingness to visit, etc.) But starting over in a new city would definitely have some impact on your income. In many cases this would be significant.
I suggest you plan carefully to build a practice that is location-agnostic. Military families are a good example. Hopefully this will minimize the impact of each relocation.
Find a town you like and stay there!
This business is not meant for relo every 2 years.
I regret most of the job changes I have made!