[quote=BrokerRecruit]The bottom line is this - much of the analytical info and logistics can be learned and acquired.  However, the foundations for leadership and selling are something that you either have or don't.  You can usually teach a "good" salesman to be great, but you can't teach a "poor" salesman to be as good as the great one can be.  A degree is a piece of paper.  It's what you do with it that matters.[/quote]

I solidly agree. I know plenty of outstanding FAs who have non-financial and business educations. (Like me!) People come from widely disparate backgrounds. It's a testament to how desirable a career this is.

One really needs a basic understanding of algebra, history and capitalism to do most of this job well. And that means, what? A 9th grade education?

Even for those guys who have MBAs, there is very little information one gets from a graduate-level program in finance that would help them actually manage wealth for an individual client. This is one of the reasons why firm training is important and why the CFP and CFA have come into increasingly wide use throughout our profession. The knowledge base is very specific and there really don't seem to be any graduate programs for financial planning in the US (certificate programs, yes, but not MAs and MSs, or PhDs - There are a number of programs appearing outside the US.)

An FA learns this job through training, experience and, to a lesser degree, through credentials and licenses. In the end, what I think makes a great Financial Advisor is the actual passionate desire to be a great Financial Advisor, the willingness to work very hard on learning the trade, and the sufficiently thick skin to keep putting yourself out there for A WHOLE LOT of rejection.

"and the sufficiently thick skin to keep putting yourself out there for A WHOLE LOT of rejection."

Agreed..... I got shot down by 27 new contacts today (initially, but I will continue to work on them for down the road), 13 callbacks to prospects in various stages on the cycle, 1 prospect who came in with 800K who turned out to be an A$$hole, and was no-showed by another prospect...... But...... I contacted a prospect who I have been speaking with monthly since November, and he is coming in Wed morning to sign ACAT's for about 375K....

Its hard to pick up that phone again after getting killed all day long, but in this case it turned out to be quite positive.... This is a typical day for all those who are still grinding, yet most cannot sustain it for the long term.... Cheers to eveyone still in the trenches battling every day....

[quote=blarmston]

"and the sufficiently thick skin to keep putting yourself out there for A WHOLE LOT of rejection."

Agreed..... I got shot down by 27 new contacts today (initially, but I will continue to work on them for down the road), 13 callbacks to prospects in various stages on the cycle, 1 prospect who came in with 800K who turned out to be an A$$hole, and was no-showed by another prospect...... But...... I contacted a prospect who I have been speaking with monthly since November, and he is coming in Wed morning to sign ACAT's for about 375K....

Its hard to pick up that phone again after getting killed all day long, but in this case it turned out to be quite positive.... This is a typical day for all those who are still grinding, yet most cannot sustain it for the long term.... Cheers to eveyone still in the trenches battling every day....

[/quote]

Yes, its VERY hard. I can remember my first cold call - the guy screamed at me that I "was selling a lousy product from a crappy company" and "why don't you get a real job?" I thought I could never pick up the phone again - but, I knew he was wrong and I'm glad I didn't listen to him!

Cold calling is only part of the process. Learn to be good at your job and get involved in the community...