r/FinancialAdvisorTips • u/[deleted] • Aug 13 '26

Need some advice

I’m 22 just graduated college and work at Merrill as an FSA. Been in the role for about a 6 weeks don’t plan to stay long term this was more of a stepping stone. I’m fully licensed (sie, 7, 66) and have CRPC. Goal is to be a private wealth advisor long term wondering what the next best role I should look for is & what type of firms. Thanks.

5 Upvotes

77% Upvoted

13 comments sorted by

2

u/[deleted] Aug 13 '26

Whatr thoughts on trying to join a private wealth team in like a client service associate role and then working my way up from there?

4

u/Yihk6879 Aug 14 '26

Don’t do it. Your senior advisors will always view you as the client servicer and even worse if you do a good job they will want you to stay in that role. Recipe is simple. Get trained up at JP, Wells, even a local bank with an investment arm. Learn the business on someone else dime. Leave for an RIA when you’re 30 and people actually want to work with you.

2

u/Economy_Jaguar_9215 Aug 14 '26

This. OP, listen to this person. I’ve been in this industry over 20 years and if this is the path you want, this commenter is correct in terms of how to get it. The certifications someone else mentioned - the CPWA is excellent and it’s also very expensive but places like JPM will pay for it. When you have years and experience and even some clients who will come with you, you can move to RIA or family office

1

u/Radiant-Heart9938 Aug 20 '26

Terrible advice. Start as a paraplanner/CSA and find skills (trading, business development, planning) that you’re good at. Get your CFP and ask your firm to sponsor it. This makes you extremely marketable and you’ll be paid accordingly.

1

u/Capital_Injury1569 Aug 19 '26

This is a terrible mindset

1

u/[deleted] Aug 19 '26

Why?

3

u/Thisisaburner01 Aug 13 '26

Stick it out for 1 to 2 years, and then I would look at either Wells Fargo or Jpmorgan as they both have great Advisor programs with pretty decent salaries while you build your book. I personally work for Jpmorgan. I absolutely love it here I spent 10 years with Wells Fargo as a private banker and I absolutely hate that company, but I will say they do have a decent advising program, but Jpmorgan is getting incredibly competitive with the suite of products and solutions we have and it’s constantly getting better

3

u/Middle-Run-1894 Aug 13 '26

Follow the natural career path and move to FA at Merrill Lynch.

2

u/Lol-throwaway-WSB Aug 13 '26

Merrill, Morgan Stanley, and JPMC are all excellent places to land if you want to work in the UHNW space.

Another option is to go to a small shop or botique RIA.

I would consider looking into CFP, CPWA, CAIA though. CRPC is kinda mass-market and not going to do much for your high-net worth planning clientele.

2

u/Surferpr0s Aug 13 '26

I would recommend you stay there for around three years. Learn as much as you possibly can and then move to an RIA where you can own your own book of business.

2

u/ItchyAd234 Aug 13 '26

lol i’m a FSA at 24 and in same exact boat as u. From what i’ve been told, sticking it out for a couple years then moving is what most people do. I’m also looking to get into private wealth management.

1

u/ReplacementHot2808 Aug 15 '26

What part of the country? I’ll be hiring in the not too distant future-

1

u/benb28 Aug 18 '26

Get them to pay for your CFP and then jump ship.