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ORMP is a no brainer right now
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How much do y’all make - but for real
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Feel free to message me if you're interested in Edward Jones since we have an initiative for experienced advisors and plan on having them start with assets. We have the best payout and training in the worehouse industry and I'll be blunt and honest with any question you may have.
Moving is usually good, for more money even better. Assuming you have not just joined Merrill.
yeah I’ve been there for 4 years and it’s really tough building my book. I’m 1 year out of the pmd program
Mentor
I would take the job. The private bank will give you an opportunity to build out your network, while getting a decent salary. You can always opt to leave once you feel your clients value you enough to follow you wherever you go next. I spent 10 years at a private bank bc becoming a FA.
Thanks and yeah that’s what I was thinking too, with having a nice salary. It’s stressful as hell being all commission
Sounds like a great opportunity. Go for it!
Worehouse, yep that about says it all! Haha
But seriously, I’m also at EJ, I started my career at Merrill, I’m now a $750k producer, took awhile and grinded it out for yrs, but when you get there you forget (kinda) all the pain. What are your long term goals? Current obligations?
17 yrs, Whew! Ha
How much transferable AUM? Could go independent. RIA starts at 100% payout. You can also tuck in with an existing for probably 70-85% payout which could be better so you’re not alone.
I agree with most . Make the move . You will learn a lot at Private bank . Network , build a Rolodex , less focus and time spent on unqualified leads so you can focus on learning wealth management . Do that for a few years . See what you like . You may gravitate towards other areas of wealth management at that level . Relationship management , wealth management , estate planning , credit , art advisory , etc . I worked at Citi private bank and left too early . Should have stayed and been more patient .
Reach me at (646)905-2173 for insights. Best, Mark
Later ML
It sounds like a good opportunity! I would go for it. It’s good to get to exposure of how other firms work. Essentially, diversifying your work experience. Best of luck to you!
Have you considered opening a brokerage of your own?
You should move on and go with CITI