Becoming a trader is not as difficult as one would think, the fact is no schooling or experience is necessary. All a person would need to do is obtain a series seven designation. The following article will take us through the theme Stock Best Broker Dealer requirements.
Registered representatives spend on average 80% of their time selling - 10% of their time with client service - 10% on managing portfolios. This is not likely to change. Since there are few alternatives to bad static allocations within variable products, there is a huge need for Variable Annuity Overlay Management.
Yes, probably all of these reasons and many more. Your independent advisor merchant has a business. Do you? Maybe you do. Maybe you don't. Maybe you just think you do! Maybe you're wondering what you should be doing with this work area to which you report to every morning, this gaggle of clients that depends on your every move, these employees who support you on a day-to-day basis.
If possible find a small firm with cutting-edge technology, and you should be fine. After gaining employment from a merchant, you will be thrust into a rigorous training program with other aspiring agent trainees. The pay isn't much, food and gas money at finest, but should you make it through the rewards are intense. Upon completing a 2-3 month training program remaining trainees are shipped off to a classroom setting to sit with an instructor for two weeks and prepare to sit for the series seven exams.
The B Myth is my terminology for the situation where a negotiator, financial planner or investment adviser is under the illusion that he has a "business" when in actuality all he has is a job. As John Bowen, a senior consultant in this area, says, "If you build a system which revolves around you, it is difficult to transfer the business to anyone else. You own a job, and it's hard to sell a job."
When Registered Representatives are required to act as fiduciaries - we're likely to see many advisors with large books of dormant assets (variable annuity contracts) that pay little to no recurring revenue. These very clients will expect (and deserve) on-going client service, communication, and advisor relationships. But how will advisors be able to afford such client expectations?
Myth before?" Well, my concept is borrowed from one outlined by author Michael Gerber in his best-selling books, The E Myth and The E Myth Revisited and applied to our industry. The sad fact is many financial planners, and financial advisers with independent merchants are suffering from the illusion that they have a business.
Wholesalers for insurance company products are desperately trying to find new ways to keep the assets on the books. Many reps that took full commissions are once again seeking avenues to recapture a commission or fee for managing their client assets, and internal exchanges are becoming less and less allowable (for compensation, that is). Insurance companies that want to remain competitive, or have a distribution edge, must have a method for advisors to keep their contracts in place, as well as provide a value-add to get new assets on the books.
Registered representatives spend on average 80% of their time selling - 10% of their time with client service - 10% on managing portfolios. This is not likely to change. Since there are few alternatives to bad static allocations within variable products, there is a huge need for Variable Annuity Overlay Management.
Yes, probably all of these reasons and many more. Your independent advisor merchant has a business. Do you? Maybe you do. Maybe you don't. Maybe you just think you do! Maybe you're wondering what you should be doing with this work area to which you report to every morning, this gaggle of clients that depends on your every move, these employees who support you on a day-to-day basis.
If possible find a small firm with cutting-edge technology, and you should be fine. After gaining employment from a merchant, you will be thrust into a rigorous training program with other aspiring agent trainees. The pay isn't much, food and gas money at finest, but should you make it through the rewards are intense. Upon completing a 2-3 month training program remaining trainees are shipped off to a classroom setting to sit with an instructor for two weeks and prepare to sit for the series seven exams.
The B Myth is my terminology for the situation where a negotiator, financial planner or investment adviser is under the illusion that he has a "business" when in actuality all he has is a job. As John Bowen, a senior consultant in this area, says, "If you build a system which revolves around you, it is difficult to transfer the business to anyone else. You own a job, and it's hard to sell a job."
When Registered Representatives are required to act as fiduciaries - we're likely to see many advisors with large books of dormant assets (variable annuity contracts) that pay little to no recurring revenue. These very clients will expect (and deserve) on-going client service, communication, and advisor relationships. But how will advisors be able to afford such client expectations?
Myth before?" Well, my concept is borrowed from one outlined by author Michael Gerber in his best-selling books, The E Myth and The E Myth Revisited and applied to our industry. The sad fact is many financial planners, and financial advisers with independent merchants are suffering from the illusion that they have a business.
Wholesalers for insurance company products are desperately trying to find new ways to keep the assets on the books. Many reps that took full commissions are once again seeking avenues to recapture a commission or fee for managing their client assets, and internal exchanges are becoming less and less allowable (for compensation, that is). Insurance companies that want to remain competitive, or have a distribution edge, must have a method for advisors to keep their contracts in place, as well as provide a value-add to get new assets on the books.
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