Related Posts
Mentor
Conversation Starter
Hi Fishes,
Does Deloitte USI have any cool down period, if you apply and do not get any response from the company? I had previously applied in a role, but didn't hear back from them. So, I'm planning to try to apply via referral this time and I'm wondering if I should use the same e-mail ID or a different one! Deloitte USI
More Posts
Khaleesi is coming to Westeros!!!
What states of US are all of you punjabis from?
Bowl Leader
amex platinum >>>> csr if you think about it
Conversation Starter
Additional Posts in Financial Advisors
What is a deeply held truth that you believe?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Yeah I was in FAA program at morgan for 1.5 years and just like everyone else said they provide you with absolutely nothing. They didn’t even teach me how to open an IRA account. Complete bullshit program just used to churn and burn mostly younger advisors and even if you do make it like one person said they grind you at around 30% so enjoy working your ass off for 3 years only to “make it through the program” and then guess what you’re taking Home around $50-60k again. I left and went to an independent office where I’m a hybrid and can do commission and fee based business and insurance business as I’m licensed for everything and actually had a mentor that taught me how to market myself and do seminars and bring in and close new clients. Now I’m 29 turning 30 next week and am going to hit $500k in production this year and will be averaging bringing in $15-20M in new assets. This career is all about how you market and bring in new prospects and having a real mentor or person who is going to teach you how to do that.
lol "program"
vpfa1 great job you did, no merit owed to morgan however. also im sure you can agree there is no program and what you did could have been done anywhere you were at due to what you put in. again, great job but not an example to make an argument MS has a good FAA program
Why? Come work with me. Not for me. FU MS. Wrong path. SF Bay Area represent...
morgan provides next to nothing except forcing you to drink their cool aid and abide by their model. no help in building out a practice whatsoever
unless you have someone prior to joining that you have some sort of arrangement with i highly advise you not to go there. you will have sold whatever clients you bring in on the firms reputation and as the quotas go up significantly very quickly you will have to leave and you will realize your clients are actually those of morgan. find a better program there are many that are very helpful in those starting out and value trainees. FAA's are not important to morgan and it is a program they have in place to buy assets that are low hanging and force you out. they require 15mm min year 2 with NO help from them.
FYI i was an FAA and made it through the program and by the end of it doing 200k in rev yr 3 (rare in the program) and at which point they cut you to a 30% payout.
They hire 10 in hopes that 1 will survive.
Just flat out grinded. In early to call prospects before the gate keepers got in. Scheduled breakfast meetings since they are cheaper and less likely to get cancelled. Take anything and everything at the beginning but as you progress build a niche/focus/specialty. First 3 years 85 hours a week. No magic sauce. Stay organized, stay simple, stay after it.
Did the program, made it through but to stay you need to be with a good group. Wasn’t one I wanted to work with. Can not go it solo at MS and most “teams” will just try to use you . Liked the Charles Schwab model. Was a good decision for me.
P.s. I had an MS Offer and an RIA offer same time MS paid more; CFP thereafter
took RIA offer. 8 yrs. Later, l'm not at that RIA, still glad I dod did though...
That's messed up
Great job FA 3! I’m 29 and hitting 30 next year, nice to know there are some young guys grinding out there! Should hit 800k in production by year end, but my goodness not averaging 20 Mil per year!
Run away from MS. The base salary is how they lure you in. Think long term.
I'm not sure how this app works but if you want to direct message me somehow I'd be happy to chat with you. I went through the FAA program and finished first in the class nationwide. Year 5-6 at the moment and will do $800k in production this year.
Enjoy only making about $300-350k while doing $800k of production. Can’t justify the cut they take in my book.
I cringe to say this, but you will get much better support and training at Edward Jones. With your background, you most likely will get an office with assets as well. MS, from the mouth of a top producer I know, is a boiler room where they sit you down with a list and god bless you. Hardly any training, unless you count the study materials to get your 7 and 66.
That's great work. Thanks guys. MS wasn't 1st choice, but was turned down by larger RIAs due to lack of experience running meetings. Would have loved to go out on my own, but i like the security of starting with the MS base salary.
Went Indy hybrid
FA 3, would love to hear more. Cause I gotta say, although 150k at a discount ain’t bad, I’m almost to the point of being burnt out by 27. I’ve been contemplating...going into biz for myself; something that’ll actually excite and drive me. 4sycamoredr@gmail.com if your willing to chat. Thanks