{ "media_type": "text", "post_content": "Looking for advice: I'm in my 3rd yr with my BD. About $100k GDC. Founder of my office gets an override...maybe 25 bps, but doesn't charge me rent/overhead. I have an opportunity to go off (cont'd)", "post_id": "5bd79b3d0fd9b700176e56e5", "reply_count": 8, "vote_count": 1, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors", "feed_type": "crowd" }
null

Looking for advice: I'm in my 3rd yr with my BD. About $100k GDC. Founder of my office gets an override...maybe 25 bps, but doesn't charge me rent/overhead. I have an opportunity to go off (cont'd)

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With only $100k in GDC it is possible no one would bring you on. Often, production needs to be $250k or more.
You're new. Why the rush? Learn more. Become a student of this business. Get a professional credential. Experience. OSJ's are out there but I question your ability to survive with so little production, so little knowledge and the added burden of running the ENTIRE sha-bang! Patience is a virtue.

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Did the founder of your office that takes the override every pay you a salary to help you get started?
I could use a bit more info before I'd advise...

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...on my own and partner with a CPA. I get my clients organically with nobody else's help. If I left his office to start my own, would it be possible that the same OSJ or even a different OSJ wouldn't bring me on as an advisor?

How’d you get the chance with the CPA?

Just networking. He's looking for another office location.

Also just want to add that my GDC is mostly fee based.

No salary or benefits

If that's the case and you don't "owe" him anything, then I'd encourage you to step out on your own. It's a good chance your current OSJ would keep you on. Just understand that you would have the cost of running the office that you don't have now.

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