tec-9-7

I've been in my current career for about 8 years and frankly, I'm about over it. I'm considering making a change to become a financial advisor. This is primarily a commission-based job (it has a draw, but it's not nearly enough to live off of), but the potential is there to make a good deal of $$$. I've heard that right now is a tough time to be an FA because of the economy, but at the same time, I know that when things are down but starting up is the ideal time to get into something.
Here's what I'm seeing as the benefits/drawbacks:

Benefits -
Great (6-figure) income potential
Fortune 500 company benefits package
Win-win job in that the more money you make for your clients, the more you make for yourself

Drawbacks -
First 6 months to 1 year will probably suck for pay
Probably nasty-long hours until you build your client base

Anyone here an FA or know personally anyone who is?

Cynthetiq

I know a number of people that thought they could do the financial advisor thing the 3-5 year plan to retirement.

They all went back to normal 9-5 jobs because they couldn't get a critical mass of clients.

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miko

I know some FA's. They do well.

I'm just curious...what is your current line of work?

tec-9-7

Interestingly, the company I'm talking to has, what seems to me, to be a pretty low critical mass of clients - like 300 basically... That just doesn't sound too hard.

i sell commercial and architectural doors, frames, and hardware...
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It isn't as exciting as it sounds.

wraithhibn

My Dad is an FA, and I'm probably going that way when I graduate. It all depends on who you work for. He worked for a major company and it about drove him ragged for 3 years. He was in a small market and had to do all of the prospecting on his own. It sucked. He worked 6 days a week putting in 12 hour days most of the time. He was getting next to nothing as far as pay went and it hurt our family. He recently switched to a smaller corporation that put him in banks instead of a stand-alone office. He seems to like this a lot better. My cousin does similar work for National City bank and he says its the worst job he's ever had.

Once you get established it gets much easier. You just need to find a company to work for that fits you and won't try to kill you.

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tec-9-7

Do you mind naming names? Or at least saying what they rhyme with?

gilada

I was told there would be no math...

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Battlefield

Financial advisor is a rather broad job description. Do you plan on working for a securities firm, a franchise type thing like clarica/london life or retail banking?

From what I know, financial advisors don't have it too bad(in terms of work load)compared to other people in the industry, investment bankers, sales & trading, etc.

Anyway if you have a job lined up with a fortune 500 company it should be no problem finding clients because alot of big clients will come to you. The real challenge is for FA working in small markets competeing for 4 figure investments...

patricholier

Hi

You can find this info by using search box in the top of website with some keywords related before posting questions.

If you want to get more materials that related to this topic, you can visit: humanresources.hrvinet.com/financial-advisor-job-description/
Best regards.