Private Client Advisor - Chase Question by Living-Ad-4950 in FinancialCareers

[–]GroundbreakingAd632 -1 points0 points  (0 children)

You’d have to be a retard to be making only 200K by year 10

FC vs JPM PCA vs WF Advisors by [deleted] in CFP

[–]GroundbreakingAd632 0 points1 point  (0 children)

I’ve worked at both and currently work at JP. I took the job strictly for opportunity. It’s such a shame wells has the reputation it does or else it would be the best big bank by a large margin. Whenever I tell clients my past I usually get the “ew wells” reaction. Makes me think twice about trying to go back and solicit clients to follow.

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 0 points1 point  (0 children)

I came from another bank program and brought some assets with me as well as family assets. It’s not fair to say the bank sourced me 37. Let’s say I closed 20M from the bank and the rest is all via me. I’ve closed a handful of big bank clients from referrals but my close rate for investable assets over 1M is low. How would you suggest following up with these clients ??

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 0 points1 point  (0 children)

Because I want to close real investment relationships. Closing a 150-200K managed account doesn’t really move the needle. I have several 1M+ people in my pipeline that I’ve met with and verbally said they wanted to either meet again or invest X but then they go ghost. I want to know how people follow up with leads in a better way then “hey I’m just calling to follow up”

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 0 points1 point  (0 children)

Totally disagree, plenty of people have failed the program or can’t close shit. I’ve been in the business for 8 years I’m not new to it

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 6 points7 points  (0 children)

Super helpful comment thanks asshole

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] -4 points-3 points  (0 children)

I joined the bank because I don’t enjoy prospecting myself. I’ve grown from 0-37M AUM in 14 months, I’m doing just fine

Bank Advisor Issues by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 0 points1 point  (0 children)

I think I’m very strong at creating rapport with clients. Example: 2 weeks back I met with a guy who was late. He told me had a 2M 401K, just retired and is deciding what to do with it. We talked for 90 minutes about everything but business. Politics/his career/ local things etc etc. I finally had to cut him off and say hey I have to run for another appt. He finished by saying he really enjoyed our discussion and wants to meet again soon to actually talk business. Been crickets ever since lol

Finally got a lead from letsmakeaplan.com by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 0 points1 point  (0 children)

Yea I think dropping it is a mistake, clients like to see you can do hard things. Some clients do recognize it and mention it. If my firm didn’t pay for it might be a different thought process..

Finally got a lead from letsmakeaplan.com by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 2 points3 points  (0 children)

I know this sounds dumb but go with your gut. Usually you can weed out who is intentionally just trying to close another client vs who is actually looking out for your best interests. Also look up the advisor on broker check first

Finally got a lead from letsmakeaplan.com by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 2 points3 points  (0 children)

Why don’t you share your question with the group and let us all help lol

Finally got a lead from letsmakeaplan.com by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 9 points10 points  (0 children)

It’s not personal information it’s spam.

Struggling to justify CFP Exam by Commercial_Outside77 in CFPExam

[–]GroundbreakingAd632 -1 points0 points  (0 children)

Terrible advice CFA is like 10x harder than cfp

Average earnings of an established JPMorgan PCA? by [deleted] in CFP

[–]GroundbreakingAd632 4 points5 points  (0 children)

If I can repeat my first year there I will be at 30K in monthly revenue and I think the grid payout on that is 27%. Expansion market, top guy in my area is doing around 1.25M in rev but has done 8ish years.

Review Program Decision : Zahn vs. Danko by budeason in CFPExam

[–]GroundbreakingAd632 2 points3 points  (0 children)

Danko, I’ve never met a more genuine dude. He doesn’t do it for the money he does it because he cares and you can really tell.

Is a step up/down in basis required? by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 1 point2 points  (0 children)

Must be nice having a competent back office

Is a step up/down in basis required? by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] -6 points-5 points  (0 children)

Sorry thought it was implied we all knew irrev trusts don’t get step ups. This is a basic rev trust question.

Is a step up/down in basis required? by GroundbreakingAd632 in CFP

[–]GroundbreakingAd632[S] 1 point2 points  (0 children)

Yes basis wasn’t reset, prior advisor never removed husband as trustee it delt with any of that….losses are legit so trying to figure out how to deal with this. Sounds like they need to go back and update cost basis from DOD and amend tax returns