Newbie Financial Planner

[New2727]

taking my Life/Health test next week I'm looking to be a financial planner. I live in Southern California looking for the right IMO can you give me some names.

My Experience : I ran a real estate sales team for 5 years
my duties recruit train new real estate agents to cold call, present, and close /handle objections.

Also generated 200+ seller and buyer leads online a month for agents using Craigslist, SEO, google/yahoo ppc and banner ads.

2 years ago I got into flipping properties I got that to the point where I do not need to spend to much time at all.

Why Financial Planning
2 months ago I was invited to a meeting at wfg It smelled funny but I thought what the heck I'll give them the $100 just to see what these guys are up to.
Long story short I fell in love with the financial services industry but don't see myself writing business with wfg main reason is the commission splits are not favorable to me.


My Plan
Start with IMO that can give me some training and connect me with an experience producer that is willing to train me, go on appointments with me.
Obviously I will be generating leads and we will go on the appointments together I will be happy to split 50%

Because of my sales and internet marketing experience down the road I would eventually build a team of financial planners under me.

Is there an IMO company that can help someone with my short term and long term goals. I dont mind giving up commission in the beginning but can offer me the higher splits down the road when I am ready to build a team.

I dont want to start at one company and then have to move because I out grown it.

Thanks for your help

 

[Rich Eddy]

Email me, call me, or send me a private message and I would be happy to give you my thoughts.

 

[moonlightandmargaritas]

taking my Life/Health test next week I'm looking to be a financial planner.

Life/health test next week? Really? You're 5% there. After you earn a CFP, you'll have the right to call yourself a "financial planner". Everything else is smoke.

 

[scagnt83]

Life/health test next week? Really? You're 5% there. After you earn a CFP, you'll have the right to call yourself a "financial planner". Everything else is smoke.

He could take the 65 or 66. A lot less work and no bachelors degree required.

But either way he is a long ways away from being a financial planner. At least he had the good sense to realize that wfg was a poor option ($100 later)... thats more than we can say for some other newbies here recently.

he gots this!
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is there an imo company that can help someone with my short term and long term goals.

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I dont want to start at one company and then have to move because I out grown it.

If you really want to get into financial planning via an insurance career your best bet would be to start out at a well known career agency, such as NYL, MM, NWM, Guardian, etc.

They will help you get securities licensed and provide the training you need to learn the industry.

Generating leads is great (craigslist isnt going to work for insurance and especially financial planning), but you need to be educated on the products and their suitability.

You should have no problem finding a mentor at a career shop. And it will give you a great basis for a start in the industry. It is impossible for an IMO to provide the level of training that a career agency can.

But you will outgrow the career shop if your smart. But you shouldnt worry about that. Cross the indy bridge once your foundation is laid.


If you are dead set against that route then your best option would be to contact local financial planners and see if they will take you under their wing. But understand that "Financial Planner" is a very broad term, even among people licensed to be real Financial Planners...

 

[Rich Eddy]

...If you really want to get into financial planning via an insurance career your best bet would be to start out at a well known career agency, such as NYL, MM, NWM, Guardian, etc.

They will help you get securities licensed and provide the training you need to learn the industry.

Generating leads is great (craigslist isnt going to work for insurance and especially financial planning), but you need to be educated on the products and their suitability.

You should have no problem finding a mentor at a career shop. And it will give you a great basis for a start in the industry. It is impossible for an IMO to provide the level of training that a career agency can.

But you will outgrow the career shop if your smart. But you shouldnt worry about that. Cross the indy bridge once your foundation is laid.

If you are dead set against that route then your best option would be to contact local financial planners and see if they will take you under their wing. But understand that "Financial Planner" is a very broad term, even among people licensed to be real Financial Planners...

I agree with pretty much everything scagnt83 said here. If I could go back and do it all over again, I would have started my financial services career that way.

The bottom line is that you don't know what you don't know, and good mentoring can make or break your career. Can you do it "indy" right from the start? Yea. I did. But it's isn't easy, and truth be told, I would be so much further along today if I done it differently.

Hindsight is 20/20, eh?

I'll know I've said this before, but it's worth repeating: The decisions that you make now, entering the financial services industry, will have a huge impact on the direction of your business. How and with whom you affiliate will to a large extent inform how you practice. Just look at me. I started out wanting to be a fee-only financial planner, but got hooked up with an insurance group when I first started. Guess what my practice looked like in the early years? Yep, I sold a lot of insurance products. Didn't really do a single financial plan.

Moving forward, it's taken some work to shift my business model to what I want it to be now (a mix of planning fees, investment advisory fees, and insurance/annuity commissions).

 

[BrisbaneGuy1]

Still a while away but gotta start somewhere.