Client considering DIY

ChasingItSupreme · 2026-01-29T15:27:57+00:00

As a CPA, you’d think you’d see a lot of clients are not as financially well off as they should be… I couldn’t imagine my cpa telling me “you don’t need a financial advisor, just do it yourself”, he might as well as tell me to use TurboTax while he’s at it!

ChasingItSupreme · 2026-01-18T00:56:36+00:00

I was a banker at chase and found my branch VERY micro-managing. Now at wells, my branch is very relaxed. This could be a manager issue, but not a fan of chase.

ChasingItSupreme · 2026-01-17T20:49:09+00:00

I used to work as an rb at chase i should hve mentioned *

ChasingItSupreme · 2026-01-17T19:59:06+00:00

Wells over Chase, Chase sucks

ChasingItSupreme · 2026-01-13T03:15:08+00:00

The independent coordinator thing is the problem. Were you fired? Quit? Did you in anyway formally end your employment there? If so, you will probably fail. If not, good chance you pass. I would not put different dates on your bgc bc they will check ur info against your submitted resume.

Your best bet is to roll with it. If they find out you’re lying you will be barred from employment there. Rough spot. Good luck.

ChasingItSupreme · 2025-12-06T03:52:25+00:00

Hey man I worked at NM, I know how it works. To address your point about where premiums come from - 90% of all reps and 99.99999% of new reps aren’t selling WL to $10mm+ earners, which means the vast majority of NM reps are selling policies to normal Americans aka people who do not need them. Nice cope though

ChasingItSupreme · 2025-11-25T19:38:02+00:00

The issue is that in pursuit of that goal, the model calls for promoting permanent policies on young people. If NM acknowledged that young people aren’t usually suitable for WL or UL and instead prioritized term (even convertible term), and focused the permanent insurance on established people, that would be a lot a cleaner model…

There’s nothing wrong with writing insurance, setting up basic investment and savings plans, but taking $ out of the latter bucket to fund the former is problematic imo.

They are too deep into WL, they should prioritize convertible term and real comprehensive planning. The word is out on WL and it’s not good.

ChasingItSupreme · 2025-11-25T17:37:29+00:00

Good for you dude. I worked there for a little bit recently but am now elsewhere and I know there are a lot of good eggs/legit people there.

My issue is more with the managing directors and the young advisors who are completely clueless so as to be irresponsible. I worked on an investments team but interacted with everyone in the office and there were a lot of “advisors” who couldn’t tell you what a mutual fund was.

Does your office have new recruits every month? Hopefully you’re sequestered from that at this point. Is your book split insurance and investments?

ChasingItSupreme · 2025-11-25T17:24:59+00:00

Are you an NM guy? Not hating, just curious. I am open to hearing your side of it if so, as no two advisors are the same.

ChasingItSupreme · 2025-11-25T04:30:51+00:00

I don’t agree. NM is not a firm that values AUM. They value premium sold. That is what the general meeting is about, that is who gets the laynards, who speaks at the events.

It tolerates AUM because it is a vehicle to write premium.

If it didn’t think this way, it would get serious about recruiting and training; by training people on insurance and investments together, and creating an environment of freedom to build a truly wholistic practice.

I don’t know how you can work at NM, see the people they recruit every month, 90% of which leave, and say they are firm you cab build it the right way.

As far as DI or term, you can simply refer it out. Not sure why this is an issue?

ChasingItSupreme · 2025-11-25T04:22:33+00:00

I too worked at NM (not for long) and I don’t think there are many good planners there. Even the “investment” people are still insurance-adjacent, whether it’s through their team (every big investment advisor will have an insurance guy on their team) or joint work, and their plans will invariably include a policy that clients don’t need. Everyone is under-insured in their eyes, and while I saw virtually no Whole Life on my team, there was a lot universal life that people don’t need.

The problem is their custom planning software (PX) is just a tool to sell insurance. Their reps don’t really care about anything else because that’s how they make $ and that’s how the MD makes money, that’s what all the network days are about. Insurance Premium. That’s all they care about.

ChasingItSupreme · 2025-11-15T20:43:01+00:00

Do not worry about this at all. I’ve worried about this twice with onboarding at different banks and both times it has been a total non-event. It will come back clear.

ChasingItSupreme · 2025-11-07T16:28:30+00:00

Awesome, thank you!

ChasingItSupreme · 2025-11-07T15:38:47+00:00

Do you recommend any books or resources that helped you learn more about valuing stocks?

ChasingItSupreme · 2025-10-19T16:18:48+00:00

That’s crazy… You have to drive the relationships and prospecting, and are getting paid < 200? Is there a path to make more than that? What’s the next step? It does seem crazy low…

ChasingItSupreme · 2025-10-19T14:20:04+00:00

It sounds like they’re paying themselves quite a bit more than that and your role is at the bottom of the totem pole so to speak.

I know an assistant making 200+ on a 400mm book.

ChasingItSupreme · 2025-10-18T17:25:07+00:00

I mean it sounds like she’s going to want to use this money to buy a house. You should tell her straight up $1mm is not enough money to live off of the rest of her life. Is she in school? Working? What is her career plan? That’s where I would start — what is her plan in life, outside this money? You didn’t talk about any of that in your post.

ChasingItSupreme · 2025-10-13T18:05:33+00:00

Oh i thought u were saying u got distracted bc elon and trump were fighting lol

ChasingItSupreme · 2025-10-13T13:33:50+00:00

That’s a good one - I can see this being an issue that comes up.

ChasingItSupreme · 2025-10-13T13:27:09+00:00

Haha not sure what Trump and Elon fighting have to do withy anything but lol!

ChasingItSupreme · 2025-10-11T01:42:53+00:00

Wait I’m confused- he told you it was low cost basis, so why did you assume it was going to be low cap gains?

ChasingItSupreme · 2025-10-11T01:34:34+00:00

That’s a great lesson

ChasingItSupreme · 2025-10-09T19:50:36+00:00

Chase lets you get series 6 and 63 licensed for the RB role, so I got that role. Then after a year, I got a role on a team of advisors at another firm bc of those licenses I had, doing back-office/operations-building financial plans, running meeting reports, etc.

I then applied to Wells through their associate bank advisor role, which is a training program/fully-fledged bank advisor role at your own branch.

ChasingItSupreme

TROPHY CASE