I have been interested in getting into wealth or being a financial advisor for years, but have never taken the leap. Potentially looking for a career change now, but I’m afraid that my salary will drop significantly for the first few years if I get into that LOB. Currently making $81k base a year in a low cost Midwest state (40% higher than state average). How likely is it that I can jump right in and make roughly the same or more than I make now?

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The reality is -- Advisors are needed, but enter with eyes wide open because not all business models are the same. Some are better. Some are lagging. * As in, take time to study the industry, noting changes. * Look for companies which are completely supportive of your changes appearing clearly .. at all levels of ascent, and know that a 4-yr stipend must be repaid .. should you eventually move into any independence unfolding between Years 1, 2, 3, 4, 5 - 10, 15, & 20, identifying an exit point, too.. * Wise ones invite independence by Year 10, rather than doing so before year 9. Chart income for all years, forcasting earnings so that you don't hit deep pot holes .. as in, the early years require that you'll have to tighten your belt a few times over. Once you've answered these questions, proceed .. but conctetely name pluses and minuses appearing under each business model.

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Bit of a specific question, but would you say it's worth buying a client book that you build from the firm you work for at a revenue multiple of 7.5x?

Looking for a private client advisor position at Wells Fargo in Long Island New York.

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I guess if you pass some tests required by financial advisor field you have say 50% chance. This of course depends on so many things such as your background, skills, how you present yourself, if you are willing to relocate etc. I work in the finance industry buy on stock investment field. I only have some general knowledge on how financial advisor industry works.

Probably pretty slim. I personally RUN from any financial advisor role. They all seem to be a scam in one way or another.

Personally, they are a ton of lef work but CAN pay off well if you are successful. Personally, I'd rather come to work and get paid for what I do there, regardless. Rather than hoping/praying I can hit the numbers I need to guarantee my pay. Too much risk for me. I just want a stress free life and stress free job.

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