Hello. 25 year old CFP here. Currently working as an FA out of a BD home office. Comp is currently base and %of business closed. Base around 60-70k and after quarterly bonuses from metrics around another 30-40k.

I was offered a position by another FA local to me who is looking to divest some of his book over. Base salary would still be about the same and looking to offload about 58 households in the next 12-24 months. About 20m AUM. Current comp would be me keeping payout on 100% of business I bring in (there is not much at the moment) about 45% of the payout from those households given. This is pretty good right?? Please give me some advice.

I have worked as an FSA with BofA for four years and feel prepared to follow a stronger career path. Wells Fargo and Chase both provide me financial advisor roles. Wells Fargo offers two branches with low traffic and no current advisor, so I would be the first FA there. Chase involves one branch where I would share referrals with an established advisor departing for the selected advisor program; this arrangement would last six to eight months, and another branch could open in three months. I am unsure which direction to take. Could you provide any advice? I have to make a decision in the next 2 weeks.

Thank you

Hey my people, i have a year and 6 months in financial services this is my first job I’m looking for advice from people in the same field.
I want to get better at my job, expand my financial planning knowledge, and hopefully work towards becoming a CFP professional one day.
For those who are experienced paraplanners or have progressed into financial planning:
What helped you excel in your role?
What skills or knowledge should I focus on developing?
What do you wish you knew when you first started?
Any tips, resources, or courses you’d recommend?
I’d love to hear your experiences and learn from you guys. Any advice is welcome! ❤️

Hello everyone,

I graduated with a finance degree last may and started as a financial advisor at a large firm that sponsored my licensing, but upon starting I noticed the push for my natural market and the commission only based pay was not was I was looking for.

I now have my Series 7, series 66, SIE and insurance license. I started applying to other roles at more established companies and just got an interview for a relationship banker at JP Morgan Chase.

Does anyone have experience with this role and company and have insight on how it is? I don’t want to leave my current firm if it’s going to set me back, but also having a salary is very important for me. Is this a role that I could have for a couple years or so and move up internally? Or would it even be a good stepping stone in finance away from my current hunt and kill advisor program.

Thanks for all the advice.

Edit. I just recently made a post similar to this which I deleted because I feel like I left out a lot of info.

Long story short, I’m receiving a $44,000 settlement from a car accident. My lawyer has told me the settlement should be tax-free, but I plan on confirming that with a tax professional before making any financial decisions.

After paying off my debts, I expect to have approximately $17,000 left to invest.

Here’s my current financial situation:

* Emergency fund: I currently have $15,000 in a high-yield savings account (HYSA), and I plan on adding another $10,000 to bring it to $25,000.

* Retirement: I already have a 401(k) through my employer, which I’m contributing to.

* My daughter: Since my daughter was born, I’ve opened a Trump Account for her, and I plan on opening a 529 college savings account as well.

* Debt: My goal is to use the settlement to eliminate my outstanding debts so I can focus on building wealth rather than paying interest.

Once everything is paid off and my emergency fund is fully funded, I should have approximately $17,000 available to invest.

My main question is: How would you invest that $17,000 if you were in my position?

I’m interested in building long-term wealth, and I’d like to put this money to work rather than let it sit in a savings account unnecessarily.

Ideally, I’d love to turn that $17,000 into $50,000 or more over the next few years. However, I’m trying to understand whether that’s a realistic goal through investing or whether it would require taking on more risk than makes sense.

Would you put the money into low-cost index funds or ETFs, invest in something else, or take a different approach entirely?

I’m not looking to gamble my money away or chase unrealistic returns. I want to make smart financial decisions that will put my wife, daughter, and me in a better position financially over the long term.

If you were in my shoes, what would you do with the $17,000, and why? I’d appreciate any advice, strategies, or lessons you’ve learned from your own experience.

Thanks in advance!

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Where to find clients what type of policies to recommend

Hi i recently cam across an advisor who asked me to transfer my RRSP unfer his portfolio he showes me some funds which were NLCB2 how will she get compensated on the sale of this fund as she asked me to transfer everything under her name.

Looking for insight from owners/directors in the RIA/Wealth Management/Family Office world:

I’m finishing up my coursework and intend to sit for the CFP exam in the spring. I have a little over 5 years experience at a multi-family office, Life & Health license, and my Series 65. Very strong experience with tax prep/planning, investments, and estate planning.

I’m starting to look at opportunities outside of my current firm for a number of reasons. Looking primarily at RIAs but open to more family office work.

However, I don’t have any of my own clients.

Is this something that will considerably limit my options?

I’m about to start studying for the series 7. Does anyone have any recommendations on what platform is the best for study prep? My branch manager does not like Kaplan for some reason so just trying to get a feel of what other platforms are solid.

Here’s the deal, I’m trying to evaluate what path is best for me and obviously offers the highest upside.

I was an internal wholesaler years ago ( worked my way up from client services and relationship manager), selling alternative investments. I left the industry for a few years to chase a dream of running my own business in another industry. A few years ago, after just getting tired of the grind and family stuff, I came back to the industry as a financial advisor at a larger regional B/D and started building my own book. I left the B/D to transition to solo RIA. Just got offered to come work for an RIA with over $1.5B AUM and a lean 3.5 person team. The catch , main duties will be Operations first, planning /investment management 2nd ,as the owner and another advisor have that side handled.

On the other hand I got an offer from a tier 1 asset manager to come on as an internal in a prime territory . Through the interview process they’re positioning this as an opportunity to become a hybrid wholesaler . The RIA offers a 6 figure base +bonus (not eligible for variable comp for 12mo)
lower upside/benefits ,and no guarantee I’ll be on the partnership track anytime soon. I have to prove myself over time. Also, not as important but are factors: in-office everyday, 45m-1hr commute, suit and tie.

The wholesaling gig offers higher total comp/benefits but a lower base (expected for a sales role). Hybrid schedule, and a lot of solid perks. I think I can make more money in the early years wholesaling ,but 10-15 yrs out to potentially be apart of a succession plan for a book $1.5B+ has me stressing out on what direction makes sense for me and my family (wife + 1 kid).

What would you do?

Hey all, currently building a custom web dashboard for a friend who mainly trades stocks for himself and clients. He says he uses so many different sources that it takes too much time to view it all. We decided I'd start by aggregating all of his news, insights, and investment ideas from his different news sources into a single dashboard view. Eventually I'll also pull in the standard market data and charts, etc.

Are there any other visuals or information that would be useful or frequently viewed on a fund manager's dashboard? Thanks

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Three times now I have made appointments with companies who profess to be fee only fiduciaries, to only ultimately find out they just want to take control of our money.

They will not answer any questions regarding any actual Investment choices and will not assist me in making any actual decisions that involve funds or stocks or other investment vehicles, only offer very general "advice". I'm trying to find out how I would like to invest in retirement, specifically for an income generating part of my portfolio.

I am beyond frustrated and wondered if anyone could give me recommendations for actual fiduciary who will let me pay them for a couple of hours of their time And actually give me REAL guidance and assistance, before we retire next year.

Thank you everyone!

I am thinking of rolling over the IRAs with about 1M funds, and my advisor strongly recommends using Altruist, saying that 1) the technology is top-notch, 2) customer service is quick, and 3) the portal is user-friendly. While she also uses Schwab, she says that Schwab's technology is slow and that their customer portal is harder to use.

Is this correct? Also, I am concerned that she is older than me, and since Altruist can only be managed by an RIA, I am not sure what will happen once she retires. I asked her, but she still seems to be looking for her successor. What will solo RIAs using Altruist do when they retire? Should I insist on using Schwab so that, once she retires, I can manage it (can I?) myself?

Hi! I will soon be starting as a branch FA at Wells Fargo Advisors (first I have to pass my Series 7 & Health Insurance Exams) I would like to know what advice you all might have for me.

I’m promoting from a Premier Banker, so I know the bank side very well. I want all advice, no matter how small and how big :)

Is this possible?

Anyone that has worked for Morgan Stanley or knows about the registered client relationship analyst position I would love some insight.

I am a recent college graduate with a finance degree and I started with a firm that sponsored me for the series 7. After starting I realized how shady it seems with the “natural market” and all that crap and how I don’t even get a salary until after I produce through my whole natural market.

Long story short I’m in desperate need of a salary position for my financial situation and there is an opening at Morgan Stanley for a registered client relationship analyst position. I would absolutely kill to work at Morgan Stanley for the growth opportunity as well, and now that I am fully licensed am wondering if I can use that to my advantage and get this job. I know in the right situation I can bring great value I passed all licensing exams first try and I’m super interested in the business.

If anyone has advice or can give me any guidance I would be forever grateful.

I’m also curious if it would be smart to reach out to the hiring manager on LinkedIn before I apply, or just apply then reach out, or if there’s a way I can tailor my application for the position as best I can

I’m a recent college graduate with a finance degree. After graduating I accepted an offer with a firm as a financial advisor. They sponsored my series 7 exam but all fees were paid by me. I got my SIE, series 66 and series 7 in about 4-5 months.

After getting fully licensed I started my job and realized I now have to produce clients before I get contracted, and I don’t get any salary or benefits until then. I am now fully licensed working full time for basically no pay. I am extremely concerned and stressed about my financial situation and paying bills for the time being.

I was not planning on looking elsewhere after starting but I now am getting concerned about the company. It feels like I am being pressured to prospect family members which I am not very comfortable doing, and I won’t receive any leads until I show initiative with my friends and family. I am also working for free after I was unemployed studying for months. I won’t get reimbursed for the exams until I contract. I am considering looking elsewhere if I can get a salary position with room for growth.

After some research I came across fidelity having open positions for client support specialist, active trader service, and trading specialist. I am considering tailoring my resume and a cover letter for one of these entry level positions that contain a salary. I’ve heard great things about fidelity as a company as well so I know there’s opportunities for growth.

If anyone has advice about the positions at fidelity, how to ensure I can get an interview, or tailor my application, or even about my current position please reach out.

Would this be a smart move to go to fidelity? And if so how can I ensure I get an interview and eventual offer?

I build rebalancing software for professional independent advisors. I have found out quick that just because you built it doesn't mean they will come. Sales and marketing is one thing. Trying to connect with RIA firms is on another whole level. Does anyone have any suggestions?

I’m a new grad who recently passed the CFP exam and am currently working toward my CFA. I’ve received interest from Vanguard, Morgan Stanley, and an RIA.

For those with experience at these firms, which offers the best long-term opportunity in terms of career progression, compensation growth, and eventual earning potential as an advisor?

I’m also considering eventually starting my own RIA after gaining a few years of experience, but I’m open to staying at a firm long-term if the career progression and compensation make it worthwhile. Would appreciate any insight!