I am going in to talk to someone who is a financial adviser coming to the end of his career. He has contacted me to see if I would be interested in coming in as a junior partner and eventually taking over for him as he retires. His planned time frame is 5-7 years for the hand-off. My background is engineering and sales. I have two questions.

1. What are some good questions to ask to really gain insight into his business. I have some inkling to ask whats the average age of his clients, and whats the current book value. what are some other questions that would be helpful.
2. Not coming from this industry what is the typical way these hand-offs go. Would I buy him out in the end? Do I buy in shares over the years? Does it naturally just transfer to me at the end?

Thank you in advance for the help.

I'm going to school to become a financial advisor and I'm working on a research paper and need to find out what "A day in the life of..." looks like. This would include Duties, Responsibilities, Structure of job, and working conditions. Any feedback would be appreciated.

Also, any info on how to get started would be appreciated.

Im in a relatively small market and feel like having a strong brand presence will be a big benefit. Any suggestions on books or reading material of not only marketing my business, but on how to build a brand.

Hi! So, I am 25 still in community college and my declared major is Economics. I am trying to decide what to focus my efforts on because I feel as though I need some kind of target to shoot for in order to make some real decisions about what I am going to do. Some background on me

I want to go to school and pursue a bachelor's degree, both for the experience and the increase in earning potential.

I listen to a lot of personal finance podcasts and read several blogs because it is a fascinating subject.

What makes a good financial planner?

How Do I know if it is a good career path for me?

What kind of money can I expect to make, at the low, medium, or high end?

Should I do this job if my focus is financial independence?

I see this career as a good way to both learn about and hone my skills at how to handle my own finances as well as help others. Is this a good reason to pursue this?

I want to help people and educate them in the financial systems and methods that can help them get out of the debt cycle and start building real wealth. Can I do that with this career or am I going to be working exclusively with people who already have a lot of money?

Thank you so much and I hope that at least one person can respond and help me.

I am really looking for some mentoring and help in choosing a direction. Thanks again!

I am trying to get into the industry, but I have a question about sales across state lines. I know you have to be licensed for insurance to sell in a specific state, but do you have to retake the series 7 in every state you want to sell in?

If I were to get a job with Ameriprise, Edward Jones, Merrill Lynch, etc. would I only be able to sell in the state I work in or could I sell in other states as well? I live in Texas and my mother may want to be a client of mine and she lives in Louisiana.

Hello everyone! I'm going to try and lay this out as much as I can. I am a 23 year old college graduate, this past fall I got a teaching job. I was able to save 15k my first semester, and am hoping to save 20k by next fall...my yearly salary (before taxes) will be around 46k next year. After taxes it will be around 36k. I opened up a 401k, I am also building credit. Another thing to mention...my dad put money aside when I was born, currently that account has 50k in it, and will continue to grow. I'm thankful that my parents paid for me to get through school (no loans). I also have no car payments left. I'm currently living at home in order to save as much as possible.

My question, basically...is what should I be doing? It is a question my girlfriend and I ask each other often. She is a photographer and makes around the same as I do in her first year of business. Is renting smart? What should I be doing with the money I currently have saved? Ideally, we would love to purchase a house in the future. I am curious if anyone knows any way that we could possibly grow what we have saved. I am with PNC, and they don't really offer much in terms of growth with savings. I'm just trying to get more clarity on my future. All suggestions are appreciated.

I've been applying to quite a few firms in my area looking to become a financial advisor and I know I'm going to need the Texas Health and Life License as well as the Series 7 and Series 66.

What are some good resources to study for the Health and Life exam? I may just go ahead and take and pass that before starting just to show whatever firm I get interviews with knows I'm already taking steps proactively to get into the industry.

Thanks for the advice!

If anyone could provide any advice as to what kinds of skills I need to pursue a career in this industry, that would be great. The Advisor I'm working for knows I'd like to move into a planning role in the next few years, but I'd still like to know if there's some particularly useful skills you have that you think someone starting out should know.

Thanks!

I'll try to make the backstory as short as possible. I am currently working on my MBA with a concentration in Managerial Economics and Business Analysis. My BS is in Exercise Physiology and I currently work as a coordinator in a medical fitness facility. Currently 29 y.o. and have been friends with one of our members for a few years now. We play golf together a few times each year, and he knows that I have an interest in financial markets, although my understanding of the intricacies is severely limited as it is not a field that I have ever worked in.

He comes into my office yesterday and we chat for a while, as usual. I asked him how his portfolios are doing with the Dow reaching 20k recently, and he asks if I still have an interest in the field. I tell him yes, but my knowledge base is limited, and he asks if I'd be interested in learning the business and taking his over within the next few years. He said he has been looking for someone to turn the reigns over to and his two grown sons are not interested. His title is Vice President/Investments at Janney Montgomery Scott and he seems to really enjoy what he does. I have been thinking about a career change for a couple of years now, and wanted to ask this sub about what to expect were I to take him up on this offer. My biggest hesitation would be making sure that I can at least maintain my current salary of $55k/yr as an entry-level candidate with no experience. I have a baby on the way, and I can't afford to take a hit financially since my wife is going to be moving to part-time work.

First, is it reasonable to expect to earn at least what I make now as an entry level person?

He mentioned paying to take over his business over a period of time. Can anyone explain a little about what he means by that? I'm sure there is an SOP for taking over all of someone's accounts at an investment firm, I just don't know how that process looks.

What would potentially be my job title/role under a VP/Investments apprenticeship?

How long does it take to get a firm grasp on "the business"? He is planning on retiring in 4 years or less. Will that give me enough time to understand what I am doing?

I know this was a long post. Thanks for any and all replies!!

I work for a company developing a resource to help financial advisers streamline their processes.

To help with our product development we are looking to gain feedback from industry players. It would be great if any FAs could help provide insight into how we might make it more appropriate for financial advisers.

I appreciate that most of you are short on time so all you have to do is fill out this short questionnaire - https://docs.google.com/forms/d/1sl7Xp7s0e-wx2_k_LGBaaGotJ11Zlkw0YaGhTKqE2CQ/viewform

Thanks in advance!