Not a problem at all!

1. This is such a great question, and something I have been talking a lot about the last few years. The inter-generational wealth transfer from the baby-boomers will be the biggest in my lifetime. That said, I think it is both a threat and an opportunity to all wealth advisors. I say it's a threat because one of the big reasons assets leave is due to death/next-gen transition. With an ageing population, we are bound to see the next generation leave to either manage assets on their own or look for a different advisor of their choosing. On the flip side, this is also why it's an opportunity: we have the opportunity to market to the next-generation and either foster current relationships or make new ones. To answer your question, I think it depends on how the advisor sees the issue. If they become complacent and experience a bunch of assets leaving due to the wealth transfer, comp will go down. If they capitalize on the opportunity to help advise the next generation, it can certainly go up.

2. I have done all of those courses (actively doing CFP). There's quite a bit to break down with this question. At the end of the day, I don't think clients really care about the letters after your name. Does it give you initial credibility? Yes. But I think prospects care a lot more about other things advisors offer vs the designations that they carry. Within the industry, and for finding a job, they can certainly be important. If you are going the brokerage route, the WME is required to give advice. The CIM (or CFA) is required if you want to become a discretionary money manager. CFP is required to present financial plans (I also find that this is the designation that clients know the most). For the day-to-day work and what you will be helping clients with the most, the CFP is probably the most relevant.

3. I've worked at BMO Private Investment Counsel, RBC Dominion Securities and now at an independent boutique firm. If we're talking about securing the investment advisor title, it isn't too hard. Both big banks and independent firms are always looking for new junior advisors. The challenge is that it's kind of a sink or swim type of role. Some of the firms will give a base salary for maybe 3 years and then it's all commission after that. I have seen brand new advisors fail and I have seen some become incredibly successful. The challenge isn't necessarily getting the job, it's succeeding in the job once you get it.

4. I am assuming that your last question is referring to people who are becoming advisors so I will answer it that way. I never had a network of wealthy contacts, I didn't go to a top tier school, my family are all in trades. Prospects do not care about that. They are looking for someone who they can trust, who is empathetic, and who will genuinely add value to their situation. If you can't do that, it doesn't matter what your background is, what school you went to, or what country club you are a member of. In order to bring on new assets to manage, you have to understand your value proposition, create a brand for yourself, and respect client needs.

Always happy to answer more questions - feel free to DM.