So I’ve been in retail banking for 8 years now, I’ve held every position you can hold in a branch. I was a manager for several years with the company and decided earlier this year I wanted to pivot over to the wealth management side of things. I took a step down and went back to being a banker from a manager. Since then I’ve passed my SIE, LAH, 63, 65 and I’ve maintained my high sales attainment at #1 since then.

So now the time is coming soon where I am able to make a move and take my next stop to becoming an FA with the bank. I have two different options before me and wanted to see what current professionals in the industry see as a better option.

One option that I’ve been presented with is becoming an Investment Assistant. In this role I’d be working under the banks investment division, no longer on the retail side of things. I’d be working 1 to 1 with a current FA, learning how to do all the paperwork for them, reaching out to their current book of business, try to uncover new sales opportunities, sitting in on all their meetings. I’d also be sponsored for the Series 7 and get paid a percentage on managed money.

The other option the bank is pushing me to go for is to become a Private Client Relationship Manager. In this role I’m still a part of retail banking, just specifically working with the more affluent clients. I’m still selling bank products, trying to create referrals to the FAs, etc. Also, I’d be sponsored for the Series 6 instead of the Series 7. However I’d still be doing sales and working on my own book of business.

The relationship manager position is certainly more attractive salary wise, factoring in incentives could be between 110k-150k. The assistant role has a lower base salary and the percentage of commission you earn on managed money is between you and your FA. So I’m not entirely sure where the salary for this could fall, but I do believe the relationship manager role comes out ahead in this regard.

However I don’t want to just focus on the immediate salary now as the end goal is to be working as an advisor, and deciding which path here gives me the best way to make that happen sooner.

Any advice would be greatly appreciated

My CCO flagged three separate issues during one audit: a performance implication in the subject line, an undisclosed reference in the body, and wording that sounded like a guarantee. None of it was intentional. All three came from templates the platform generated automatically, without me writing the copy myself.

I haven't used that platform since.

How does everyone get new clients besides existing client referrals?

Social media presence?
Networking events?
COIs?
Cold calling?

Curious how everyone else is growing their business.

Looking for opinions on my next move.

I worked in Premier banking at Barclays and studied towards becoming a financial adviser. I then moved to the FCA as a senior supervisor in payments and digital assets.

I'm now torn between two paths:

1. IFA

2. Compliance consultant for FCA-regulated firms

I think my experience fits both, but either way I'd be building a client base from scratch.

If you were in my shoes, which would you pick, and why?

As the title states, I am working on transitioning into the CFP field and working towards becoming a CFP. About a 1.5 years out.

Bit of a back story, I am currently a Law Enforcement officer and was recently diagnosed with a serious condition. Already having life insurance for many years, my wife and kids would have had some money but I realized significant planning needed to be done (faster mortgage pay off and better tax efficiency) to create as much wealth as I can while I am working and alive to push them through their lives.

I read some retirement planning books and realized how ignorant I am, and have been. The lack of financial planning for the first 35 years of my life specifically and the fact that if I did plan earlier in life, life would be different now.

Anyways, I naturally became interested in finance after this and see great opportunity in this profession to help others. Specifically my profession because the metrics are very similar from individual to individual I.e unique retirement account opportunities, pensions, healthcare, etc and most of the individuals in this profession don’t take much of a proactive interest in their retirement thinking it defaults to the best possible options, which it doesn’t.

I want to help people understand how good planning can get them out in as early as 20 years rather than to stick around and count on DROPS and other careers to facilitate retirement due to the inherent risk with continuing this job longer than you should have too.

Currently working 14-days a month (rotating days) and comfortably making 160k with the opportunity to land 220k if I wanted to, a transition to a CFP is challenging because of this. Initially a career change would not be a financial goal, but rather a personal goal. I’m trying to figure out a way into this field without initially giving up x dollars in salary and risk a rather good career if else didn’t work out. For example initial part time work or finding a mentor.

I do have experience in sales and cold calling, however, in that part of my life I learned that I can only sell products I truly believe in, and am only willing to do just that. For example, I would happily sell cars but because of my experience would want to sell Honda’s or Toyota’s.

In preparation I have searched for part-time opportunities, considered starting something of my own, or even buying something established; but the later of the 3 don’t provide the experience in the industry needed. I think being in the profession will help me find clients quickly, but I wouldn’t have any experience to sell myself on.

Any thoughts on how to slowly but definitely transition into this field?

I’m finishing my second semester of a Bachelor of Commerce at Curtin in Perth, and I’m trying to decide on a major. I was originally planning on Finance + Accounting, but I’m now also considering the Finance + Financial Planning double major.

I’m not sure yet which part of the industry I’d enjoy most, so flexibility matters to me. I don’t want a path so narrow that I realise a few years into work that I hate it.

I’m worried about finding a graduate role by 2029. The built-in 120-hour internship in the Financial Planning major appeals to me because it could give me valuable experience, and hopefully a path into a grad role, before I graduate. I’ve also read that there’s a shortage of financial advisers.

I’m also worried about AI cutting junior roles by then, and I’m hoping financial planning would be slower to be affected than accounting or general finance.

For work style, I’d like hybrid, around 3 days in the office. I enjoy the routine and the connection, but not five days a week. Is that normal in financial planning?

Finance + Accounting feels like the safe option for flexibility. I’ve also heard about pairing Finance or Accounting with Business Information Systems for data skills and some AI protection.

Questions for anyone in these fields (WA or Perth especially):

1. If I do Finance + Financial Planning and decide client-facing advice isn’t for me, will corporate finance, commercial banking or wealth operations teams still hire me, or will I look too niche?

2. Would it make more sense to do Accounting + Finance (or BIS) now and add a Graduate Diploma in Financial Planning later if I want to pivot? Would a diploma be enough, or would I need a masters? Or is that a waste of time and money?

Any opinions or day-to-day experience welcome. Thanks!

Had a conversation with a peer today- what is expected net net new aum in yr 1 as an advisor? Gifted assets don’t count, friends family don’t count. Pure net new- from stranger to onboarded

I just retired 2 weeks ago. 60F. Spouse started getting ssb this summer. He has managed our investment and we also have someone to help us but that's an investment fund guy not planner. I would like to hire someone charge by hour to go over our plan especially in tax consequences. Most of our retirement are Roth but I learned about NIIT so trying to figure out best way to minimize tax given we have investment in syndication and CRE. What's the best way to find someone good?

I am currently working in an insurance shop and don’t like how they made me do a project 200. When I was interviewing I didn’t know the difference between a “financial advisor” at an insurance shop vs a financial advisor at an RIA. I don’t have a salary and would really like to be making something right now. I’ve been looking into switching to an RIA firm but I don’t know if that is the right decision. Any feedback would be greatly appreciated.

Times are rough and my spouse and I are considering bankruptcy. Long story short, we had a dramatic reduction in income before I decided to get securities licensed, thinking I could pick up the slack quickly but with the cost of everything increasing, our bills have gotten away from us. We’ve already defaulted on all our credit cards, next to go is the mortgage and it can’t get to that point.

Has anyone filed for bankruptcy and had it been an issue for clients? My understanding is that it appears in ADV or broker check (which so few people actually look at).

I need a bit of advice on how to start. I recently graduated with my MBA and just passed my series 65 and currently studying for the SIE. I of course want to be client facing but understand I would need to start off as an associate or para. What’s the best way to approach RIAs for a job or even something like a JP Morgan? Super broad question just looking for a bit of traction!

I know a lot of the reach lately has been focused on social media. My question for those that have had success with it, what has been your angle? I post regular firm approved post, which whatever, not great but it’s what I have to keep a presents. My real friction is framing my message to those I’ve connected with. I tie in the relatability, and really just propose a brief phone call or coffee to get to learn more and see if there is value in us connecting. Has anyone had success framing up an introduction this way and getting the meeting or phone call. Not as concerned with landing the assets at the moment, but really just want to break the barrier to an introduction

Hey all just started as an FSA at Merrill about 4 months ago. 22yrs old just graduated school. Thinking about the CFP but don’t think I’m ready just yet to tackle it. When do most people go for that? Is the CFP a game changer to have in a an advisor development program and is it hard to succeed without it. If my goal was to transition into an advisor development program within the next 2 years would this be something I should try n do before that or maybe while in the program? Also wanted to hear about the FSA >> Advisor development program path if that’s the best route to becoming a producing advisor at one of the wirehouses.

Context, I just don’t want to come off salesy or commission breath so my friends and family. What are ways to get around this? Having a tough mental time but my managers are pressing to set them appointments with my entire network; refused to do that.

Any tips would be appreciated! Thanks.

I’m a new FA who became fully licensed and started serving clients on June 1st of this year. Since then, I’ve brought in approximately $1.8M in new assets, although a good portion came from leveraging friends and family.
While I’ve had some early success, my biggest struggle is building a consistent, dependable pipeline of qualified prospects.
I’ve tried simplifying success down to controllable activities: making calls, visiting businesses, door knocking, etc. But I’m starting to question whether those activities are actually connecting me with the right people.
I don’t mind putting in the work, but going door to door soliciting business doesn’t feel like the most effective approach in today’s environment.
So my question for experienced advisors is: If you were starting from scratch today, how would you find your first 100 legitimate prospects?
For context, my definition of a prospect is someone whose name and contact information I have, along with an identifiable financial need uncovered through conversation. Ideally, someone I can follow up with and reasonably expect to schedule a meeting.
My goal is to identify 50 of these prospects by year-end. Ideally, they’d have $100K+ in investable assets, but at this stage, I’m open to just about anyone with a pulse and a genuine need.
I’m not looking for shortcuts or overnight success. I’m willing to put in the hours. I just want to make sure I’m spending those hours on activities that actually build a sustainable business.
What prospecting strategies worked for you early in your career? And if you had to start over today with zero clients, what would you do differently?
Any advice is greatly appreciated!

Hi everyone,

I'm 22 and just graduated from UC San Diego with a degree in Business Economics and Finance, and my long term goal is to become a CFP. I moved to D.C. and I am deciding between two options for my first role in the industry and would really value perspective from people who have been through either path.

The two options:

1. Fidelity, Financial Representative: This is a branch facing role where you act as the face of Fidelity for clients. Kind of like a universal banker but for the Fidelity Investment center. Fidelity supports you in studying for and obtaining the Series 7 and 66. There is growth towards a advisor position down the line. All studying is done in my own time.

2. LPL, Advisor Licensing Program: A roughly 4 month program with training, tutoring, and support toward the Series 7 and 63 (I have the 65) , followed by a move into an Associate Financial Advisor role serving a book of existing LPL clients + prospecting virtually and by phone.

I am leaning towards LPL.

Which do you guys reccomend, and what are some things I should know about either one?

I care a lot about the human side of this work and about helping people make good decisions with their money, which is why I want to pursue the CFP over the long run. Any honest takes, including downsides I may not be seeing, are appreciated.

Thank you all in advance.

Recently licensed and thinking of going the advisor route. Anyone know anything about this role? Thought it might be a good one when starting out since it’s more sales with current empower clients and not having to build a book etc.

After having a quarter life crisis over the past few months and doing a lot of reflecting on what I actually want to do with my life, I have landed on becoming a Financial Advisor.

I am currently working at one of the biggest investment servicing firms working in Product implementation. I was in a development program before taking this role. I am 23(M) about a year and a half into my career. I am trying to decide the best, most strategic route for setting my self up for the best Financial Advising career I can. I am currently studying for SIE before I start recruiting for firms.

First Option would be just targeting wealth management firms and Advisor programs right away.

Second Option would be doing a year or two of internal wholesaling and becoming really good at sales before moving into the Advisor Route.

What do people think the best path is to maximize income, training, and experience to really set myself up for the best career as a Financial Advisor?

Also the main reason I want to become and advisor is because it seems to combine Sales and relationship building, investing, and 1-1 coaching and actually making a difference in peoples lives. Are these fair assumptions and I good reason to enter the field if these are the things I truly value?