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If you were a graduate fresh out of college with a degree in finance, your Series 7, and your Series 66, what position/company would you go for, knowing what you know now? Thanks

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I went to EDJ out of college and I'd do it again

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I'd second Jones but only if I were to get assets or succession plan. Also, i would've focused on location better but what did i know as fresh meat out of college. Other approach would've been to join an established indpt team that needed a Prospector and go all fee based from day 1.

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A starter firm with great training and a strong name in the industry, then when you’re ready go independent. Make sure you have ownership of your book with no strings attached once you make the move

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I did too.. and would do it again for the training. Just go in with the game plan of either networking into an existing office or having an exit plan the whole time

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EDJ with a succession plan or a big “Goodknight” (20mm plus) is a pretty sweet deal. Otherwise, you are gonna have a real tough time keeping up with their standards after year 2-3

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A Fortune 500 Form like ML,NYL,NorthwesternMutual, or EDJ as a junior partner.

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I should have started my own accounting firm. I'm tired of selling, chasing commissions, didn't put enough in fee based early on. Clients you thought you had a great relationship with transfer out. Clients I thought I had a weak relationship with send me referrals. I'm tired of feeling like a failure. Never failed at anything but with these new standards I evidently am Sorry to be a Debbie Downer, just a little tired of the endless hamster wheel of disappointment.

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I wish like hell I started at EJ out of college. I would have had a lot more energy then instead of waiting to start when I did which was when I was 50. I started new new no assets. I got an office with about $10 mil about a year after starting. At 3 years in I’m now at $32 mil AUM and doing OK. I love the culture and appreciate all the training. Like I said, just wish I started sooner

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Go to Jones again (which is where I went fresh out of college). Great training, great culture, and a spirit of paying it forward.

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Find a little town of about 15 thousand somewhere in the Midwest with some decent industry and some good dark black soil for farming around it start up an Edward Jones office. Sell to mom-and-pop businesses who have reasonable expectations and are nice people to be around. Bust your butt for 4 to 5 years and see if something does come open as far as assets and succession with all the EJ reps hitting around 55 to 60 these days.

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I started at Merrill, the things I learned there we're invaluable. Edward jones is good if you can goodknight or succession plan or have a chance to be given significant assets, other than that, no.. it's a hamster wheel to hell. Get yourself some good clients and go work for an insurance company like northwestern or go Indy. The wife house model chews up junior FAs and spits them out.

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EJ5, what do you mean by that?

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You have to work for a RIA with some scale so you can be where the puck is going and learn the various facets of the business while being in a system that can support you today and with future growth. A hybrid RIA is fine, as well. I am a 30 year regional advisor and the B/D model, even at the regionals, is broken and getting worse.

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Ej5... if you can stay above the redline... something will likely come up at ej. We tend to improve those who are successful.. not play captain save a ho. I work with dozens of wildly successful FAs who were originally scratch starters. Some of them got something later... some didnt. Eventually most of those goodknight assets get transferred again. They give a small steady recurring revenue stream to keep a FA from starving to death but are in no way a path to a successful practice.

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