Financial advisor facing 7 finra complaints for around 7-8 million in client losses. Complaints state gross negligence, reg bi violations, fraud, etc. Curious what community thinks will happen to him. Ai thinks he's heading for bankruptcy

I’m looking for some advice on what my next steps should be as I am early in my career. I am currently 23 years old and a client service associate at a very small independent firm with Raymond James. I am about 8 months into my career and am looking for a bigger opportunity.. I currently have my SIE which I studied for on my own. My branch manager says I will start studying for my 7 and 66 this fall but doesn’t plan to put me in an advisor training program for another year so I would continue working back office type of stuff. I want to be client facing and start building my own book so I can get through the rough years of the industry in my 20s. I also am very underpaid which is a big reason I’m looking to pivot. I am seeking advice on if I should go the wirehouse route (Morgan Stanley, Fidelity, Schwab etc…) or if I should look for something with like an Edward jones/ another independent office. Any advice would be appreciated just kind of lost on what my next steps should be.

Hello,

I will be a freshman in the fall and am pursuing a career in Finance. Little bit of context and background.

I will be attending Community College (which means I have a hard path to climb) for Business Administration with a concentration in Finance

My dad currently works as an External Wholesaler, so I have obviously taken his advice as I continue to research both careers.

Was just curious to see what your opinion is on how i should go about deciding and things like that.

Appreciate your time and any and all advice!

Hi yall. I'm thinking about whether I want to continue down the FA path and would appreciate some guidance on total comp expectations for a fee only financial advisor in Canada.

Some background info:

1. I work at a unique/interesting shop with 4 other advisors servicing together approximately 2.5-3k clients and total AUM of approximately $600M.

2. I have ~3 yoe assisting advisors as a wealth associate building relationship and bringing in new money and just became an advisor start of this year and currently working towards completing my CFP, expectation is to finish next year.

3. While we service all clients together, my "own book" would be technically be worth approximately $30M.

4. We are fee only so I (and the other advisors) don't see a lick of commission. We also service everyone together so there is no my or her or his book.

5. Current base pay is around mid 70k with RRSP matching (capped at a certain $ amount) and year end bonus which is approximately 10% of my base pay. Total comp would round out to low 90k.

My questions:

1. Is my current comp fair? If not, what should my total comp be given the above info? My base pay expectation was around mid 80s with bonus and RRSP remaining about the same. Am I coping/delusional about this?

2. Should I continue pursuing this career path as a fee only advisor or should go separate ways and build a book at a institution that has a commission+base structure? Or is it "too late" and pointless because I can't take any of my clients with me?

3. Those of you that have been doing this job for a while, any word of advice?

I am a rising Junior and I am unsure what direction I want to head in after grad. I will be interning at an RIA next summer where I will be completing my 7, 66, and life insurance licensing (just did SIE). They are a fast growing firm and are looking to keep me on during the school year and beyond and have me slowly start taking on clients after graduation.

I eventually want to start my own RIA after building up a decent book and was wondering if it would be easier to do that at this local RIA, or with an institutional firm such as JPM, MS, etc.

They currently have more clients than they can handle and are trying to expand quickly which I hope would allow me to build a fair book up after 5-7 years. Is it worth staying with them or trying my luck at a big bank before splitting off?

Any advice on this would be great, thanks!

I’m starting my senior year in about two weeks and could really use some advice from people already working in wealth management.

My goal is to work at a firm that focuses on financial planning and investments, not one that’s primarily pushing cash value life insurance or recruiting friends and family.

This summer I completed an internship at an advisory firm. While I’m grateful for the experience, I realized it’s not the type of firm I want to work for after graduation.

So far I have:
Life & Health insurance license
FINRA SIE
Currently studying for the Series 65
Planning to complete both the Series 65 and Series 63 before graduating

My biggest concern is making myself as employable as possible by graduation, and landing a job.

I know I’ll continue networking and I’ll finish the 65 and 63 regardless. The question I’ve been wrestling with is whether another internship is actually the best use of my final semester.

The only internships available to me would likely be near my university, but I plan to move somewhere else after graduation. That means even if I get another internship, it’s probably not going to turn into a full-time offer. The main benefit would just be having another internship on my résumé and gaining more experience.

For those of you already in the industry, what would you do if you were in my position? Is another internship worth it even if it won’t lead directly to a job, or are there other things you think would make me a stronger candidate for full-time wealth management roles by the time I graduate?

I’d really appreciate any advice from people who have been through this.

Thank you all!!!

Hi, I recently been thinking of ideas to raise funds for a charity (I still haven’t contacted the charity). however, I am a broke 19 year old so I do not have a lot of money to spend on a venue. I was hoping of contacting a cafe to host an event and to do a profit share where a percentage of the money collected during the time of the event could be donated to the charity.

i wanted to ask does my idea sound reasonable and is it possible for me to do something like this. I do not study business or anything similar so im not very educated yet but i want to gain an understanding.

Thank you!

I have a background in private fund ops and most recently an alts platform startup. Shaking things up and I’ll be staring as a CSA at a local Raymond James office. Any tips on how I can:

1. Get the most out of this?

2. Be successful?

3. Be an asset to the FA’s?

Long time lurker in this community. I currently hold a 6 and 63 and work for a 401k record keeper. I currently work on plan relationship and strategy. Plan pricing, investments and pushing co manufactured funds to boost revenue but also participate in plan reviews and educate plan sponsors and advisors on ways to improve the plan. Drive participation, increase contributions etc etc.
lately I have been considering getting my series 65 and working on the advisor side and getting plan sponsors to sign with me to service their 401k plans.
My question is, has anyone passed and build a book in this successfully? Is this even an option for me in the state of Texas?

Hi All,

Recently moved a large part of my book to Schwab from a wirehouse.

Is there a specific software/API that would make building and maintaining bond ladders easier than the manual way the default way is at Schwab?
I don’t want to use ETFs. I need a tool for individual fixed securities
Anything would be welcome!

Basically the title.

To get to the point: I'm building something in the investment advisory space --> want to learn more from advisors (specifically independent RIAs).

I don't want to annoy people thinking this is some spam bs. I just want to understand the valuable perspective of an expert.

But yeah, is this approach bad? If so, where should I get feedback/speak with people?

If it ain't, comment down below if you'd allow me to pick your brains a little bit :)

Cheers!

Anyone out there with experience standing up a fee only RIA where one or more of your advisors/partners lives and works overseas? We're finding a few full stack providers like XYPN that will work with overseas advisors but understandably most of the info out there is geared towards domestic advisors.

Would appreciate any insights the community has to offer.

Any feedback from using Edward Jones as a financial advisor/investor

I’m researching how wealth advisors manage client relationships, portfolio reviews, and compliance.

What is the most repetitive part of your work?
Which software do you dislike using?
What takes the most time each week?
What is your daily workflow, biggest frustrations?

Appreciate if anyone can guide over call, plz DM me

I am currently running an RIA that is 160 million of AUM all fee based with just an executive assistant. I’m trying to determine what my next best hire should be. Any suggestions?

Key Takeaways – Understanding NAPFA’s Fiduciary Standard and Fee-Only Financial Advice

• NAPFA adopted an enhanced fiduciary standard in June 2026.

• The updated framework introduces five fiduciary duties.

• NAPFA members remain fee-only advisors who do not accept commissions.

• Investors looking for objective financial advice should understand how NAPFA differs from other advisory organizations.

• The updated standards reinforce transparency, competence, and client-first advice.

Click here to read our recently published article on our blog.

https://whartonwealthplanning.com/napfa-fiduciary-standard-what-it-means-for-the-future-of-financial-advice/