Financial Advisors

I got an offer to inherit a book at a competitor plus a lower salary than I have now. I’m considering taking it considering the flows alone on the new book are worth it to me... I think. Thoughts?

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works at

Salary? What’s that?!?

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likefunny
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You want to see the amount assets on paper and exact number of households before you take the job. You will walk into less than promised due to over inflated numbers or cherry picked to others. Better have a course of action if they don’t deliver. I used to work in the bank and we did this to new hires every time. When you work in the bank you don’t own your book and the bank owns you

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$85 , continuity and keeping your current clients seems like a better deal

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likefunny
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LOL! Agreed! 20 yrs without a salary but 15 yrs of managed fees. Close enough

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likesmart
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Current gig sounds better. But flows are where it’s at as long as they are loyal. When would AUM hit where you are now? But yeah, I have to echo earlier point that they own you and the client. That’s why there’s a salary involved.

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My salary now is $85K at a private bank plus bonuses if I bring in clients. My title is Senior Private Banker. The offer is for another private bank but they’d be giving me a salary of $65K plus giving me accounts from an advisor who’s retiring. What questions should I be asking/considering?

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