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luvindy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 4:57pm
Originally posted by helado helado wrote:

Originally posted by Dr Pearls Dr Pearls wrote:

What measureable benchmarks should I ask for them to agree to? Pass SIE, get a 1500$ bonus. Pass series 66 within 6 months another 1500$ bonus and salary of 50k at that point. Pass series 7 I get another 1500$ bonus and base pay of 70k a year now. Something like that? Then also what after that? You guys should Tell me EXACTLY what you’d ask for, during and after the licensing. I want to find a way to make this a good option to accept. I hate my job w a passion guys 

No.  The only thing you care about is CLIENTS.  There needs to be a clear, written path to you becoming an advisor, not an assistant.  Your payout, and the progression of your payout needs to be in writing.  If they are offering to give you lower end clients to cultivate, that needs to be in writing. 

Obviously you pitch this nicely and work up your deal as you're studying (and making $80K instead of $45k).

I would pitch doing it this way because you need to know your job is SALES and PROSPECTING for the next 3-5 years.  You can't really do much prospecting or meetings with COVID.  The cards are stacked WAY against you until next year when this is behind us.  So use that time to study (while getting paid $80K) and learning the answers to the questions you asked about products.  Also coming up with a business plan (can be informal) about how you will acquire clients once you start.

Truly, keep your current job, study, and be ready to roll next year.  You can "sit in on meetings" in June.  

Not that you need to worry about this now, but Ameriprise is in the bottom half of the industry in terms of which firm you probably want to be with.  They aren't awful.  You can make a career there.  But it wouldn't be in the top 10 places you'd want to.

The more I think about this, I'd pitch it to them with 100% honesty.  I'd just say, "I've given it some thought.  I definitely want to make a career of being a financial advisor with your firm.  I think the best move though is for me to get my studying done and tests taken on my dime.  I don't think I can live on $45,000 per year and I have plenty of time to study while working my current job.  The way I foresee my plan working out is being licensed within 6 months, which will coincide with mass distribution of the COVID vaccine, so I'll actually be able to prospect and hold meetings.  I can start learning your systems and do some shadowing in the meantime, and we can work out the details as we go.  I've already order the SIE book from Kaplan.  Let's rock!"

Or something like that.

You could pitch it to them that "you're seeing things from their side" and they can save the salary while you study. Get them to hold an opening for you if they will, even if it's just mentally, but make no commitments to them. 

Meanwhile get the good looking chick's number to text just to stay in touch and see if you can make some hay with her while you get your exam study done.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 4:59pm
Yep.  It's way better for them.  If they balk, it's because they are actually looking for an assistant, not an advisor.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Dr Pearls Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 7:03pm
I think you said some really good things there. It sounds like a good idea. They also made it pretty clear that they need an assistant for now but “it’s a great way to become a FA from the inside out.” If I don’t take this offer, they WILL hire an assistant regardless. I think they’re willing to develop me because I showed them how successful I’ve been in PC sales thus far and they know me personally. 

What I’m worried about is them simply rejecting my offer and then I won’t have an in anymore perhaps. Also and more importantly worried about getting licensed but then not knowing what the hell I’m doing. Like get licensing done but then in reality selling products will be a bunch of mumbo jumbo. 

Also is it realistic to be able to get SIE, series 66, and 7 all within next 6 months? And also do I NEED a sponsor like is it a requirement to be able to take the series 7 for example? If so I’ll need to play my cards more carefully. 


Edited by Dr Pearls - Nov/30/2020 at 7:06pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote memphis Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 7:24pm
Originally posted by Dr Pearls Dr Pearls wrote:

Also is it realistic to be able to get SIE, series 66, and 7 all within next 6 months? And also do I NEED a sponsor like is it a requirement to be able to take the series 7 for example? If so I’ll need to play my cards more carefully. 

You need a sponsor for 7, 63, and 66 (which is a combo of the 63 and 65). SIE and 65 don’t require sponsors.

It’s more than realistic to pass your exams in 6 months, or even far less if you’re an excellent test-taker. But that’s the thing. There are very successful people who had to test multiple times to pass, and failures who studied and passed in less than a month.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WarPig Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 7:29pm
Originally posted by Dr Pearls Dr Pearls wrote:

She's 26 and had a hard life so I don't think I have the heart to leave her even if I wanted to. Unless it was like something bad bad. But she's an angel. Sent you a PM btw. 

What is he saying is she is a freak.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Nov/30/2020 at 8:32pm
Originally posted by Dr Pearls Dr Pearls wrote:

I think you said some really good things there. It sounds like a good idea. They also made it pretty clear that they need an assistant for now but “it’s a great way to become a FA from the inside out.” If I don’t take this offer, they WILL hire an assistant regardless. I think they’re willing to develop me because I showed them how successful I’ve been in PC sales thus far and they know me personally. 

What I’m worried about is them simply rejecting my offer and then I won’t have an in anymore perhaps. Also and more importantly worried about getting licensed but then not knowing what the hell I’m doing. Like get licensing done but then in reality selling products will be a bunch of mumbo jumbo. 

Also is it realistic to be able to get SIE, series 66, and 7 all within next 6 months? And also do I NEED a sponsor like is it a requirement to be able to take the series 7 for example? If so I’ll need to play my cards more carefully. 

If they are that good of family friends, you're good to go.  If they aren't, there are a lot of indy guys out there that would take you on.  There's no risk to them in my plan (barring you being Bernie Madoff).  You would be offering to come on to make them money at no cost to them.

But again, if these are "family friends" they will still take you on.  This response makes me think they are really interest in an assistant, with the benefit of some upside (or a "carrot").  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Dec/01/2020 at 8:30am
Originally posted by helado helado wrote:

Originally posted by Dr Pearls Dr Pearls wrote:

I think you said some really good things there. It sounds like a good idea. They also made it pretty clear that they need an assistant for now but “it’s a great way to become a FA from the inside out.” If I don’t take this offer, they WILL hire an assistant regardless. I think they’re willing to develop me because I showed them how successful I’ve been in PC sales thus far and they know me personally. 

What I’m worried about is them simply rejecting my offer and then I won’t have an in anymore perhaps. Also and more importantly worried about getting licensed but then not knowing what the hell I’m doing. Like get licensing done but then in reality selling products will be a bunch of mumbo jumbo. 

Also is it realistic to be able to get SIE, series 66, and 7 all within next 6 months? And also do I NEED a sponsor like is it a requirement to be able to take the series 7 for example? If so I’ll need to play my cards more carefully. 

If they are that good of family friends, you're good to go.  If they aren't, there are a lot of indy guys out there that would take you on.  There's no risk to them in my plan (barring you being Bernie Madoff).  You would be offering to come on to make them money at no cost to them.

But again, if these are "family friends" they will still take you on.  This response makes me think they are really interest in an assistant, with the benefit of some upside (or a "carrot").  

Exactly. 

They NEED an assistant. They don’t NEED another advisor. Unless that timetable of transition is in writing, you have a high likelihood of not being happy. You might feel you’re ready a year from now, but they will still need an assistant
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Dec/01/2020 at 9:11am
You will be a service assistant AKA SERVICE admin Bitch. Offering you a salaried J-O-B with the FA carrot dangling in front of your face.   
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