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Is the cfp as hard as people says it is?
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Year one : 146k
Year two: 256k
Year three: 296k
How are you guys making such fat checks so early in your career?
23k 54k 80k 121k 151k
Nah no bullshit on my numbers brotha, sorry to burst your bubble.
I spoke to FA2 on the phone and he knows his shit. He had some solid advice even for someone who was making $245k NET 6 years in. Sometimes we get caught in a rut and seek something new. Thanks Aaron
So to give you the short version I graduated college and eventually started working at an affiliate of guardian insurance, worked there for a year and hated it because all they focused on was making you sell whole life regardless of the situation. After a year I left there and went to Morgan Stanley and worked there in Baltimore in their FAA program for 1.5 years and they literally taught me nothing....didn’t teach you how to open an Ira account for a client even, it was figure everything out for yourself and if you don’t cya later. That’s when I finally moved into an independent office where I knew the managing partner that ran it and I finally learned not just how to be an FA and really let the clients decide what they want to talk about and what interests them rather than me trying to dictate, but more importantly he finally taught me how to market. That has been the one thing that has totally changed my career is that I know exactly how to acquire new clients and do it consistently and profitably and I will forever be indebted to him for showing me his process. The single most important thing to making it in our industry is to have a consistent repeatable process for acquiring new clients. I’m 29 years old now, I don’t have kids yet, and I love to work so for me running 30-40 seminars a year is fine. To me I see it as working late 3-4 nights a month so that one day I can leave work early each day. My first few seminars I ran were a mess and I went almost $10k into debt on my credit card before I finally started closing my first few clients because there is obviously a lag time, but eventually that all changed and now we run like a machine and I have two assistants to help. You have to start somewhere and the biggest help is to have someone that can mentor you and show you what works and help you avoid what doesn’t. I finally found that so for me I’m happy to try and give a little of that info back to the rest of the young advisors out there.
$150k
$220k
This year on pace for $400k+
And I’m independent
I do more seminars and prospecting events than 90% of people that have been doing this for 20+ years. It’s all about how you market and how many people you get in front of consistently. More at bats equals more conversions. I’m happy to explain how I market if you’d like some info, my personal email is aaroncirksena@gmail.com
30k 32k 55k. 17 years in now and 387k.
FA5 like I said it’s all about getting in front of more people than the next guy. Think about even if I do 40 seminars a year which is probably what I will run this year, and I get 25 people at each, that’s 1000 people I’ve gotten in front of. If I book meetings with even half of those that’s 500 people to meet with. If I convert even half of those into some form of business/client that’s 250 pieces of business be it annuity, managed money, insurance, whatever. The thing I hate is that even with me doing that many events it means that over the next 20 years I will only still ever get to talk in front of about 20k people! There are more than 30k qualified prospects within a 10 mike radius of my office and that’s just right now, not counting how many more there will be that hit certain ages etc. over the next 20 years. Frankly there are more than enough clients out there for all of us, you just have to know how to market and get in front of enough because most advisors I see do little to no real marketing.
No problem FP1. Waddell and reed street level business is going to be anything insurance related that doesn’t go to grid. Mostly indexed annuity business and insurance. Advisory is not the biggest yet because I don’t only do advisory business which is what a lot of FA’s do. I talk to people about managed money but I also talk to them about REITs and about indexed annuities and variable annuities etc and show them the pros and cons of each and we decide together what they are most comfortable with and what makes the most sense with them. Because of us working mainly with pre retirees and many with very conservative risk profiles we do a pretty good amount of indexed annuity business.
Email me at aaroncirksena@gmail.com and I will connect you with the marketer I use to fill my seminars through Facebook ads. I’ve started using them exclusively versus direct mail. As long as aren’t in my territory I’m fine sharing.
$110k, $210k, $325k
Gross?
100k
175k
220k
Year 1: 82k
Year 2: 138k
Year 3: 162k
Edward Jones w a healthy fee base; that’s net.
$15k(6 months) $30k $60k $80k $110k
Idk how these guys were making that much as a new advisor.
Will do ! Thank you!
50,76,100+
I did it with Lunch N Learns
Managing individual assets, retirement plans, and the financial planning side of the equation (life, LTC, cash flow, etc.)