any investment/financial advisers here?
- Thread starter klewlis
- Start date
- Joined
- Aug 30, 2007
- Messages
- 13,879
QUOTE (klewlis @ Jan 27 2009, 03:42 PM) I have some questions about a potential career path and am seeking info/advice from people who are currently working as investment advisers or financial advisers. Please pm me if you have advice. Thanks!
it takes years to build a network .. like a realtor .. but if you`re good you will have excellent income and a rewarding career .. thus another income source while starting is required or the ability to buy a network / become a partner / "buy your way in" !
skills:
a) knowledge of products, markets, trends
b) salesmenship
c) ability to generate trust fast
d) honesty
e) resiliance to up and down markets and people who say "$%^#@& off" when you phone them cold .. or when the market has tanked 25%
it takes years to build a network .. like a realtor .. but if you`re good you will have excellent income and a rewarding career .. thus another income source while starting is required or the ability to buy a network / become a partner / "buy your way in" !
skills:
a) knowledge of products, markets, trends
b) salesmenship
c) ability to generate trust fast
d) honesty
e) resiliance to up and down markets and people who say "$%^#@& off" when you phone them cold .. or when the market has tanked 25%
- Joined
- Dec 19, 2007
- Messages
- 83
Thomas, you hit all the right points.
One other thing.
When starting out, if you have no other source of income from your household, I would highly suggest starting out by working under an established advisor. Preferably one that is 50+ and who will be retiring in the next 5 or so years.
Also, finding an advisor who deals with high and ultra high net worth individuals. Nothing worse than having someone who has $100,000 in an RRSP with you calling and yelling at you why their investments are down X%. (You only make roughly a percent, $1000, from their investments a year)
Cheers,
One other thing.
When starting out, if you have no other source of income from your household, I would highly suggest starting out by working under an established advisor. Preferably one that is 50+ and who will be retiring in the next 5 or so years.
Also, finding an advisor who deals with high and ultra high net worth individuals. Nothing worse than having someone who has $100,000 in an RRSP with you calling and yelling at you why their investments are down X%. (You only make roughly a percent, $1000, from their investments a year)
Cheers,
- Joined
- Aug 30, 2007
- Messages
- 13,879
QUOTE (Lermy @ Jan 28 2009, 10:12 PM) Thomas, you hit all the right points.
One other thing.
...Preferably one that is 50+ and who will be retiring in the next 5 or so years.
make that 70+ .. as most people in their 50`s don`t "retire" even with a high net worth unless they have health issues, don`t enjoy their tasks or have hobbies that occupy them 100%. Many will perhaps slow down, or spend time more wisely .. but golfing 24x7 or reading or sitting on a beach is not everyone`s idea of "retirement" !
One other thing.
...Preferably one that is 50+ and who will be retiring in the next 5 or so years.
make that 70+ .. as most people in their 50`s don`t "retire" even with a high net worth unless they have health issues, don`t enjoy their tasks or have hobbies that occupy them 100%. Many will perhaps slow down, or spend time more wisely .. but golfing 24x7 or reading or sitting on a beach is not everyone`s idea of "retirement" !
Thanks to everyone who replied in the thread and via pm.
For those of you who I was conversing with via pm, apparently I am no longer allowed to use pm`s since I am not a REIN member (they have turned off the feature altogether) so I cannot continue our conversations.
For those of you who I was conversing with via pm, apparently I am no longer allowed to use pm`s since I am not a REIN member (they have turned off the feature altogether) so I cannot continue our conversations.