Rookies who made it past the first year and are still in business. What firm did you start with? Are you still there (if not new firm). What would you change if you started again today?

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I'm in my 2nd year now so I'll share my experiences.. I started out with ML
I'm no longer there, resigned to goto a bank program. AUM: 6.2mm. I did 100% cold calling.
I wouldn't change anything. Working at ML taught me a few things.
1) nobody gives a crap about you or your livelihood. 2) taught me the discipline to keep my head down and keep going. 3) opened new doors for me, and got myself a gig in a bank program that I actually enjoy.
4) taught me that this is 95% sales job. 5) learn to never ever goto a wire ever again.

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How old are the A-share funds in the book? Jones compliance says they don't want you to sell them before 5 years, but I had a "mentor" that did it every 3.

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I assume this is non competitive?? Did the old FA leave the business? Is there a BOA? How long has the branch been open and how many advisors has it been through? Did it start off as a goodknight branch?

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I'm in year 2. I joined an indy firm from the start. AUM: 12mm. What I did/do: Year 1. 100% doorknocking for the first 3 months, 50% Cold called local businesses, 50% called warm leads from bank. Year 2: added two community banks to the program (total of three banks with 15 branches), added 3 401k plans (1-3mm), 1 seminar per quarter, No training, No salary, Only hurdles were make enough to pay the bills and not starve out. Biggest lesson learned: Work hard to find the balance between enough transactional to keep the lights on and enough fee based to secure a long term career. Advice: The absolute best resource for someone who takes the path that I did is Advisorheads!

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Still cheaper than an advisory account...

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