{ "media_type": "text", "post_content": "Coming up on 5 years as a phone-based advisor and trying to decide what to do from here. Money is good in my current role but i don’t have a book, same conversation over and over with no real end game. I love the idea of starting an RIA some day but obviously that would be easier with a substantial book. I am planning to sit for the CFP exam in March and make a move shortly after. I’m considering going to a new firm to build a book with the long term goal of trying to bring those clients with me", "post_id": "62960bb00368330023e6e6cc", "reply_count": 9, "vote_count": 2, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors", "feed_type": "bowl" }

Coming up on 5 years as a phone-based advisor and trying to decide what to do from here. Money is good in my current role but i don’t have a book, same conversation over and over with no real end game. I love the idea of starting an RIA some day but obviously that would be easier with a substantial book. I am planning to sit for the CFP exam in March and make a move shortly after. I’m considering going to a new firm to build a book with the long term goal of trying to bring those clients with me

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Have you looked into buying a book from a retiring advisor?

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If you buy a book you have to be able to work with the FA since you will likely have at least a 3-5 year relationship with them to maintain their clients. Some of the deals I’ve heard of have been structured with payback period of 5 years but averaged out with AUM over that period. That way both advisors have a vested interest in maintaining the book. If a loan is needed the BD will at times put up the money to keep the clients there. Another option to look at is to network with established FA’s that are closing in on retirement. Some FA’s bring on a jr to take on smaller new clients and they split fees while the jr builds a book.

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to my RIA. Is that wrong? Are there any other options besides trying to start an RIA from scratch?

Related Posts

Hi Fishes,

Kindly suggest which option to opt for

CTS - CTC after retention 19 LPA( including 1.5 L VP).

TCS - AST role with CTC of 22LPA ( Including Monthly and Quartly VP of 3L)

Thanks

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Hi. I am currently manage a tele unit. I also manages second dept but was told this a week after taking this position There is no compensation for managing this 2nd department - as large as the first. Do any other nurse managers manage a second department and if so what is the compensation for this?

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Hi All, I got an offer from Deloitte India (lower ctc) and KPMG Global Services (higher ctc) into deal advisory role. The salary difference is not very much but I'm confused now which one to join. In both the companies I have to work with international clients. And if I ditch Deloitte will they blacklist me for future or not?

Deloitte
KPMG
Deloitte India

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Is discrimination during an interview a norm Darwinbox Digital Solutions Pvt. Ltd.

The first question I was asked in interview vedio calls was, how old r ur kids and what is my idea of work life balance being a women.
Next, he tells me I m not fit for role without even asking me any job related questionsDarwinbox ..such a shame

Is JL3 position equal to SDE 3? Maersk

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CGI Hi. I’m currently enroll in first semester in community college SLCC and will transfer to a 4 years degree in CS. Is there anyone can help me get a referral in an internship at

Discussion thread for those that have left for industry/plan to leave/want to leave:
- What was the defining moment that shaped the decision to actually leave versus considering leaving
- What was your rank/tenure in your role? What level and how long were you there?
- What activities did you engage in to ramp up your leave? I.e. networking, resume rebuilds, etc.
- What role did you exit to and why?
- What was your comp before you exited and post exit?
- Would you do it all again?

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Has anyone done or know of someone who does scheduling for a defense contractor? Had an interview recently & seemed like a quite boring role.

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Seeking Referral for a PM grad role. Please help. It may be a big ask, but will help me get better opportunity at Walmart. Thanks in advance

Salesforce interview experience any one for senior consultant role

BA Opening FIS Global India Location: Mohali/Chandigarh Exp: 4-7 Yrs Time to Join - 0-30 Days Must part of our Tech Next – Business Systems Analyst Team/ 4-7 Years’ exp Those who are interested in this job please email me at : tanveersingh7886@gmail.com with the below information: Total Exp: Location Only Mohali/Chd Current Firm Name Current CTC Expected CTC Joining Time in Days: only between 0-30 Days Please don't email Without the above info I cannot forward the profile. Note I am not an HR I

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Invited to meet with immigration counsel to discuss needs/timelines before final round interviews, is that normal? For context, it's a US based role for a Canadian citizen.

MBB em level role vs. director level tech (non FAANG) exit? Coming from b4, roughly 10 yoe. I know it’s probably a personal preference thing but hoping to get opinions here. Tech role is $190k base plus a 30% target bonus. MBB role i got a verbal offer without a comp figure yet but my understanding is it’s around there, maybe 10-20% higher (or maybe much higher depending on bonus).

Didn’t fully expect to get the MBB offer honestly, but both beat my 180/198 b4 comp. Now i’m torn.

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Is it normal for a start-up to be super vague and keep setting up meetings to get to know you but gives you bare minimum details about them?

I had a start-up reach out to me and after a few meetings I have barely been able to get any information about them. I don't know name, size, or anything but a vague description about what they offer (don't even know what role they would want me in). Is this normal or am I right to be annoyed?

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Might be a long shot but my husband and I are wanting to move back home to the Fayetteville, AR area. Any firms hiring in that area for staff level? Just finished my first busy season (had 2 this year). Currently in audit in financial services, asset management, but willing to work in other areas, even advisory.

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Any openings in EY as a Business Analyst...

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Hiring @Trianz for mentioned positions. Please message me with the Role name and I will share the detailed job description. Thank you.

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Additional Posts in Financial Advisors

Any suggestions for best place (online) to learn power BI? Thanks!!

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Please refer me if you find any opportunity for MS SQL/Azure SQL DBA. I can join in 2 weeks.

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Is anyone filing form 965 for a fiscal year client with a 2017 return?

The new instructions to the form say “attach to your 2017 return”.

If you have your dream job, what is it, how did you get there and why is it a dream? For those on the path, please feel free to contribute. Thank you.

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Thoughts on structuring market (competitors, consumers) within Revenue? I feel as though that’s more MECE but I’m not sure how clean that is.

Any references for Java developer in @Braclays ,Pune?
YOE : 7

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Is reaching out on Linkedin the best way to contact a recruiter, or should I look for their professional email?

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I’m back to having no billable work again. My department almost completely dried up when covid started, so I’ve been relying on work from other busy departments at my firm to keep me busy since March. I feel like I start a new job every couple of weeks and am constantly begging for work. I’m just exhausted. Can anyone else relate?

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Total Compensation seems to be different amongst different people. What is TC to you?

For me I think it is Base + Bonus + Any Immediately Vested Contributions provided by Employer

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Landed an offer today and negotiated a late start. Is it valid to be scared to start late in case signed offers can get rescinded? With current trends 😱

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Genpact Hi Fisher, Can someone please refer for the below opening in Genpact. It's for Legal Counsel(Delhi location). Please check and let me know if anyone from Genpact can refer..

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Sorry to post this in Hindi but ye naye logo ne bohot rayta failaya hua hai bowl me. Thoda research karlo yar. TR kya hai, kyu hai. Koi pehli bar nai ho raha mid year TR. It doesn't mean sabko layoff ya pip pe rakhne wale hai. Although interviews are going slow or freezed, Deloitte has strong position in this economy and there is nothing to worry about.

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Is there really a reputation/pay hike by having two Big 4s on your resume? Is this a good or bad thing? Will it really impact anything besides LinkedIn clout? Hoping it provides a lot of exit opportunities in the future.

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Everyone mentions who pays poorly. So who pays well? Do we have to be in LA, SF, CHI or NYC? Did that. Want out.

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Best advice or classroom lesson from business school that has significantly impacted my career and / or the way I do business.

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Can anyone please refer me to Eli Lilly?

Eli Lilly and Company
Please let me know what details you require

Hey! Anyone have any recommendations for plastic surgery in the DMV or Atlanta area?! Ready to finally schedule consults!

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PSA: AA requiring all passengers to wear face coverings starting 11 May. Get sewing everybody

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Want to get new irons, any recommendations golfers? Play taylormade now but looking at the titleists.

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Additional Posts (overall)

I’m trying to get a better understanding of the pros and cons of the various Broker-Dealers who offer an Independent channel option. The ones I would like to hear the most about from you that have experience with them are Raymond James, Wells Fargo FiNet, LPL, Commonwealth, and Cambridge. If I ever make the change I would need to be dually registered.

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Who needs to get started on their RMD list?

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Family friendly movies (kids under 5) that are fun to watch for family movie night? I’m composing a comprehensive list for 50 weeks in 2020 using my planning software haha.

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Tips for writing emails?

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Has anyone had success with a YouTube channel or videos?

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How do you handle having non-FA friends from a financial standpoint? Like I want to travel more or do things that are a little more costly than just grabbing meals/going out together

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Fellow young female FAs— How are you making it in the industry? I am getting burnt out from people not taking me seriously no matter what I do. You’d think being a CFP candidate, dressing professionally, and knowing my stuff would get me there but it doesnt. [more in comments]

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Do you take partial accounts? If so, what percentage of your book started out as a partial account? How many of the accounts have eventually turned over all assets to you?

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Anyone know a company that will provide annuities to non-US citizens, non-US residents?
If so, would they have to be expats of their country?

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Thinking about going from independent to a bank so I can have a salary and lead sources. I have my CFP, what would a base salary range look like?

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How important is location for a financial advisory practice these days?

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Describe the worst situation you have ever encountered due to someone exploding over an email you sent.

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Anybody else cycling to work every day? My commute is half an hour on a bike with a lot of uphill. It's a great way to start the day.

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How can I regulate my emotions when I'm frustrated during a difficult class?

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Do any of you have experience with the STC study material for the series 7 exam? That is what we are using at MS.

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I suck at sales... it’s been a great experience but I’m pulling the cord. Thank you to everyone in this community, the struggle is real. I wish you all the best!

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Looking for some NEW ideas for client dinners - 10 people around a table or two. I've done SS, don't want to do medicare. I've done estate planning with an estate planning attorney.

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How many of you changed firms and are happy with their decision?

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to my fellow car enthusiasts: thoughts on the 2020 Corvette?

Considering leaving my bank BD to go to Jones. Pros and cons from those who have done that?

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