Merrill Lynch Or???

[BoomBoom68]

I am in the process of considering a career change. I have been in mortgages for the last 7 years and have seen my income go from a high of $180k to around $60k. I'm in the final stages of interviewing with Merrill Lynch. The job is a $70k base, but the salary goes away after 3 yrs ... IF you make it that long. There are hurdles that have to be met every 3 monhs. If you get behind in the hurdles, you are fired and the accounts you did gather get dispursed to the other advisors in the office. I was recently contacted by a Farmers recruiter and i ave an initial interview lined up next week I am wondering if insurance sales is a better way to go. Has anyone one the wirehouse route and ultimately ended up in insurance? If so, can you elaborate on your experience? Any other input/thoughts would greatly be appreciated.

Also, another reason I am considering Merrill is the thought of annuitized money. Meaning the more money you have in wrap accounts you get recurring income each and every year. In mortgages, you start every year/month at zero. Can someone explain how an nuance agent earns a trail or recurring income? Thanks in advance.

 

[Franz Kafka]

The last time I heard the average lifespan of a managed account was about 4 years - meaning if you don't know how to make money for your clients consistently, there's no "annuity". With insurance you don't need to know **** about investing and can still earn renewals on most products.

So do you know how to invest or at least think you can learn how to? The two (advisory and insurance) come from completely different mindsets. JMO

 

[xrac]

I am in the process of considering a career change. I have been in mortgages for the last 7 years and have seen my income go from a high of $180k to around $60k. I'm in the final stages of interviewing with Merrill Lynch. The job is a $70k base, but the salary goes away after 3 yrs ... IF you make it that long. There are hurdles that have to be met every 3 monhs. If you get behind in the hurdles, you are fired and the accounts you did gather get dispursed to the other advisors in the office. I was recently contacted by a Farmers recruiter and i ave an initial interview lined up next week I am wondering if insurance sales is a better way to go. Has anyone one the wirehouse route and ultimately ended up in insurance? If so, can you elaborate on your experience? Any other input/thoughts would greatly be appreciated.

Also, another reason I am considering Merrill is the thought of annuitized money. Meaning the more money you have in wrap accounts you get recurring income each and every year. In mortgages, you start every year/month at zero. Can someone explain how an nuance agent earns a trail or recurring income? Thanks in advance.

I think this is a duplicate thread.