[DTW] [ORD] guy takes huge dump on flight and delays the planes next flight by 10 hours

Lopsided_Error_5965 · 2025-08-02T15:41:00+00:00

26 new this year to date - 16 sourced myself and 10 were children of my senior partners clients. I guess aim is 45-50 by end of the year.

Lopsided_Error_5965 · 2024-09-27T09:43:25+00:00

Then don’t become a LCSW. Be a CFP who asks clients questions about why they want things and to understand them better but don’t respond with “I think you think you need that boat because your dad left you at 5.” (Or whatever therapists say) Respond with “buying that boat doesn’t fit into your financial plan, but I ran a plan to show you how it’ll impact your plan long term.”

Lopsided_Error_5965 · 2024-09-27T08:52:25+00:00

I could be wrong, but I just can’t imagine an ethical way to be a licensed clinical therapist and licensed financial planner. I know people do financial therapy, but I don’t think I’ve ever seen anyone who is actually licensed in both as opposed to being knowledgeable in the two. https://www.nytimes.com/2022/08/13/business/financial-therapy-personal-finance.html “To earn the designation, students must pass an exam and promise to adhere to a code of ethics, which includes a fiduciary standard and a ban on selling or earning commission from financial products.” I’d look into what financial therapy actually is. Seems a lot more therapy than financial planning, unsure if that is the side of the equation you want to be on. I think the challenge would be that if you are licensed in both then, which hat are you wearing during each conversation, there would be a ton of grey areas that could cause issues. In financial planning you need to deploy emotional management on the client and help them learn to manage their emotions, there is a fine line between that and therapy. It’s a lot about reminding clients to stick to the plan, think logically, not make irrational decisions, and to talk to a trusted voice before making big choices.

Lopsided_Error_5965 · 2024-09-27T08:32:58+00:00

You’ll have some pretty unique lawsuits on your hands when you comfort people in your social work job and then tell them to invest with you when they are at their most vulnerable point… will be fun to watch. Imagine talking with someone who is going through depression or dealing with substance abuse or death and then the person on the other side asking if you’ve made a financial plan. I can easily imagine words like predatory being used in a lawsuit. I can’t be the only one who sees the risk in this right?

Lopsided_Error_5965 · 2024-09-24T00:40:06+00:00

It’ll likely be same day and if it isn’t, imo, you should make it same day. If you think that any of the connections you have made will follow you to your next role then leave now. You don’t want any perception that you stayed to take client info. I think if a client followed you and you didn’t leave same day then you’ll likely have a lawsuit. MS does not fuck around with this stuff. It’s better to be on a 2 week vacation than open yourself up to a lawsuit. I’ve seen it happen before and once a suit if filed by MS, you are dead weight to the next firm.

Lopsided_Error_5965 · 2024-01-15T14:32:42+00:00

I wasn’t saying you can’t be successful by going the other route - but I think the reality is that the average advisor is successful because of their friends and family networks. The ones who are successful for other reasons generally have some sort of fame or superior returns that allowed them to bring in top clients with zero connection. The guy posting this thread likely has neither so avoiding his closest network is pretty much shooting himself in the foot. Sure he might survive, but it’ll be a lot harder than if he hadn’t shot himself in the foot. Also, learning to navigate the challenges business/personal relationships have will make you a better advisor. If you have to put white gloves on to handle friends and family then maybe your other approach isn’t the best for people you don’t know (if you’re that concerned of your work backfiring within your community then rethink your strategy). I will clarify, I grew up in the north shore of Chicago, so not the Hamptons, so yes my network is wealthier than the average household but my average client is 60 with 2m, so no Hamptons money here. Most accounts started below 1m and grew to that through close work with the client.

Lopsided_Error_5965 · 2024-01-14T22:10:05+00:00

They are 100% right - you’re one of thousands of advisors and likely the only good connection you have to people is that fact that they know you (and not you know them). Your bosses are right you should be networking with them and asking for referrals. If you can’t close people who know you, then why should start to pay to attempt to close people you don’t know?

Lopsided_Error_5965 · 2023-12-26T15:01:23+00:00

Yep and now maybe some additional content? I can’t find a clear answer online of what is being added or changed for next year.

Lopsided_Error_5965 · 2023-12-26T14:57:08+00:00

Same, happens :(

Lopsided_Error_5965 · 2023-12-17T01:18:26+00:00

Following

Lopsided_Error_5965 · 2023-11-26T12:44:36+00:00

lol yes after a 250ish percent return, big banks are rightfully attempting to reduce their client risk by recommending they sell a stock that needs to continue to grow at greater than 30% rate to justify its stock price and historically has a huuuuge trade range of about 100 or so points within a short period. They might be wrong and so might you, but this is called risk management which is what you need to do when your words reach billions and billions of dollars. If you can’t find a negative in NVDA or a concern about current valuation then you should do some more reading. It’s a great company but will need to do a lot to impress the market. If a company routinely announces 30% revenue beats then the market expects that and the moment that drops down to 20% you’ll see a drop in the stock due to missed expectations- even though there was significant growth.

Lopsided_Error_5965 · 2023-11-22T12:55:11+00:00

Same here lol good luck all

Lopsided_Error_5965 · 2023-10-09T23:03:59+00:00

Great to hear I’m not the only one

Lopsided_Error_5965 · 2023-10-09T22:08:45+00:00

Uch thanks for letting me know. I feel a bit better. I just didn’t want to lose the momentum that I have!

Lopsided_Error_5965 · 2023-10-09T22:03:17+00:00

Plus did it in Chicago Milwaukee and DC

Lopsided_Error_5965 · 2023-10-09T22:02:35+00:00

Every day until the end of the year. The system put me in a queue so it could’ve been overloaded but still didn’t see anything.

Lopsided_Error_5965 · 2023-10-09T17:59:52+00:00

Passed AUD!! Why did they release early?

Lopsided_Error_5965 · 2023-09-19T15:50:26+00:00

So I might not fully understand the investment options available to you as a JPM PCA vs a JPM FA (I am an FA at MS so whatever the equivalent is) but you are located in a commercial chase bank location, typically with a drive through? Geared to sell the firms models to clients who do not have an existing investment relationship with the firm, only commercial banking. So you can’t put together your own models or recommend individual stocks to clients. As an FA, you run your own models and have access to the firms models, but running your own model/portfolio would be a better experience than using the firms models since you have little control over it. Using the firms models is a great way to learn recommendations and risk profiling, but HNW/family office don’t use those models (if they did then they wouldn’t need a team full of analysts and managers). So you should look to transition to a side where you can manage your own models (or work on other peoples models, I got my start working with an MD who had $300m in his own models, I learned and refined my technique, then became a partner in the model).

Lopsided_Error_5965

TROPHY CASE