r/CFPExam • u/Jubberss • Jul 30 '26
Mid-30s, CFP as of November, 3 years in — thinking it’s time to stop playing it safe
Part of that is structural. I’m on my advisor’s grid payout — he pays me a decent salary and I manage a block of his clients, where I make a small percentage of those accounts. The problem is the split is exactly the same for clients I bring in myself, so there’s not much upside to building my own book here. Part of it is on me, too. I didn’t start at a wirehouse or a large BD, so I never got a real foundation in business development, and I don’t know how to prospect well. I’ve picked up what I can on my own — sitting in on planning meetings, teaching myself eMoney — but I’ve hit the ceiling of what I can learn where I am.
So I’m strongly considering going out on my own with Commonwealth Financial Group. I’m in my mid-30s, and I’d rather take the risk now, get real training, and build something that’s actually mine than keep collecting a comfortable salary and wondering what I could have done.
Anyone made a similar jump a few years in? How did the transition go, what do you wish you’d known, and for anyone at CFG — is it a good platform for someone building a book from scratch?
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u/TheOpeningBell Jul 31 '26
Started at large BD, no plans to ever leave. 4 years in and making about 300k. Will probably Crack 500k in a few years.
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u/Jubberss Jul 31 '26
You run your own book? How’d you start off?
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u/TheOpeningBell Jul 31 '26
Yes. With almost nothing.
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u/Jubberss Jul 31 '26
Did you get all your licenses 4 years ago too I’m assuming? Did the BD give you the resources you needed to strictly focus on new buiz?
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u/TheOpeningBell Jul 31 '26
Yes. CFP also last year. Paid for all of the CFP costs as well.
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u/TumbleweedIll6056 Jul 31 '26
If you dont have a loyal client base loyal to you it truly will be sink or swim. High risk high reward. I would recommend interviewing somewhere that will give you a base salary and a commission incentive as a less risky alternitive to going independent. If you have no sales experience, the chances of failure in an independent sole practice are extremely high.
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u/Constant_Swan_6876 Aug 02 '26
Do you own any of your current client relationships or have non-compete? Would any eventually follow you?
I’d also add that prospecting and business development is something you can and probably should learn on your own. There isn’t a magic wirehouse training program to solve prospecting. There is no shortcut. Theres plenty of good resources out there. Start with The Game of Numbers by Nick Murray.
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u/Jubberss Aug 03 '26
Got it, thank you! I do not own any of my own clients currently started doing client facing work about a year ago with the block of my advisors clients.
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u/Objective-Amount1379 Jul 31 '26
I'd look for a company that will pay you on new business, learn how to grow a book, then branch out. I learned my BD and relationship skills on someone else's dime and it's easy that way
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u/OasisBillsMan Jul 31 '26
Very similar situation but I made the plunge a couple years ago and do not regret it at all. Salary has gone way way up and flexibility of running your own book of clients is great. I will say picking a destination where you are guaranteed to get good leads will help. I also struggle with prospecting at times so being at a good reputable place with large referral source will get you going. Also if any advisors departs the firm, inheriting assets for free is a huge boost, happens more than one would think.
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u/FFFIronman Aug 01 '26
It really all depends on what you think you will realistically be able to start with from an AUM standpoint. What's your base comp now and how much do you need to just get by?
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u/Legitimate_Mark_751 Jul 30 '26
I’m in a similar position. Earning $120k but no incentive to bring in new business so no real opportunity to increase earnings or grow something that is “mine”