Financial Security Advisor Career Guide and Counseling

Question: can a financial advisor represent two different broker/dealers at the same time? I am a securities licensed financial advisor registered with one broker / dealer. A colleague of mine, who is securities licensed, is registered with a different broker dealer. My colleague has asked me to join him on one of his client meetings. I told him that I would try and find out if this is acceptable with FINRA.

Answer: It would not be a wise move to join him. The risk of being called out for conflict of interest is high. There is also a possibility of being accused of collusion. Whether you are innocent or guilty is not the point here - your employer may deem it necessary to terminate you to set an example, to show that they do not tolerate this behavior, and to discourage this type of behavior among its employees. I hope you decline the offer, unless he is willing to pay you such a huge amount you can quit your job with just this one meeting.

Question: Will minor felony convictions prevent security exchange clearance to be a financial advisor?

Answer: Felony convictions can ruin your chance for a fast food job nowadays, seriously. I think you're going to have to hold your breath during the background check. Goodluck.

Question: What are your thoughts on a financial advisor? 2) What's your opinion of the role that financial services companies play in helping people plan for their future. 3) Do you have a financial security program (investment,retirement,insurance,disabil… & health)? If so, why did you set up your program? 4) Do you have a financial advisor? If so, what role does he/she play in your financial security planning? 5) I would like to extend this survey to several people unknown to me. Would you help by referring me to a few people to whom I might ask these same questions? I am starting a new career and part of my hiring process is getting these questions answered by as many people as possible. Any help you could give me would be greatly appreciated.

Answer: 2. I think financial service companies are great if the person is needing their assistance and can afford it 3. Yes, I have investments, retirement, insurance/health; I set these up not only for me when i retire but for the security of my children 4. Yes, myself. I do my own financial planning. If I stumble on something that i'm not sure about then I get a co-worker (another advisor) to help me out 5. sure

Question: Do I need to register with the state as a personal financial advisor? We are developing a website that will sell a low-cost ($29.95) fully-customized report to consumers who are in debt. The report, utilizing a system known as "snow-balling" will detail the payments the consumer would need to make to payoff their debt quicker than they normally would, attacking the higher interest rate debt first. We are not offering securities of any kind, simply offering personal financial advice in return for payment. Should we be looking to register with the state? Thanks in advance for any help!

Answer: I doubt you need a license. Sounds like an awful lot like plans which are described by Dave Ramsey and Crown Financial. I can get this plan for free on various websites, why would I pay?

Question: I am interested in taking a Financial Advisor Position with Merrill Lynch in Houston? I saw the position on careerbuilder this past week. It states they give a "generous" base salary and on some of the board here Ive seen they are commission only. Which one is it. I am considering quitting my current dead end job but want to make sure I have security. I am a recent college graduate with sales experience.....If you are currently working for Merrill Lynch or similar investment firm I would appreciate some clarification...Thanks

Answer: Hey, I'm a broker. If you do it, remember that the Salary will slowly diminish after a year or so, and will need to be replaced with your commissions. Your job will be, basically, to call people all day long and talk to them about their money and try and set appointments with them to get them to invest. Cold Call Cold Call cold Call It is a tough job, and requires a lot of work. Good Luck

Question: How much would you be willing to pay for an extensive background screening for a financial advisor? This would cover background checks on an individual including: - bankruptcy check - criminal and civil check - credit check - better business bureau check - securities/exchange commission check - checks with federal, state and private agencies - state securities department check - dept. of insurance check - professional license check - financial industry regulatory authority check What would this background screening be worth to you?

Answer: $30 for 3 years of unlimited background check is all I HAVE PAID. I already have a subscription at http://www.netdetective.com/ - it's $30 for 3 years and the largest database out there (3.1 billion records) with unlimited searches for 3 years. It's the best site out there, used by private investigators all the time. I would never pay more than that and what's great is you can use it over and over for 3 years for no extra.

Question: what is the normal commission split between a broker and a new financial advisor? Currently working as an independent contractor with an independent investment firm splitting 50/50 commission after the the 20% commission by the main broker/dealer. Is a 4-year term contract normal in the securities business? Your response will be very much appreciated.

Answer: The arrangement seems to be satisfactory but you can demand an additional 5%

Question: Where can I find a financial adviser whose main business is not selling insurance? I am 64 and own my own small business. How do I find someone who is paid by the hour and has a deep and broad understanding of estate planning, when to start taking Social Security, etc, etc. I have heard that most "financial advisors" make money by selling insurance policies. I have nothing against insurancy policies but I want someone whose income is dependent on his real skills. Is there such a thing as a National Certified Financial Advisor association?

Answer: You may find some freelance financial advisors at website like http://www.getafreelnacer.com/ .

Question: H1B visa holder can't be a Financial Advisor in USA? I just graduate from college with a finance degree, and I am looking for a company to sponsor a H1B visa for me, and couple financial company was interviewing me, after the second interview, one of the company told me due to the patriot act, non-US citizen can't sell security in USA, so I can't be a financial advisor. Is there any other way to override that, is there any visa beside green card will allow me to sell securities in USA? I'm actually pretty sure the company want to hire me before they found out about the patriot act, because they have already scheduled a third interview with me and I know did very good in my first and second interview, and is not the company have the information, is the firm's dealer/broker send them the information and details.

Answer: I would check with a goverment advisor on this, Don't trust Y! answers or you could end up in jail. Deport illegals, and keep the dream alive.

Question: What education/ degrees needed to go into the financial field.? What kind of education background do I need to become a financial advisor. Do you know of any good online schools? I just got my life licence and will be learning more about investing through New York Life... in a few months I want to get my securities licence... so I do want to further my education in this area. what degrees do I need if I were to go back to school... THANKS

Answer: TWO SUGGESTIONS: -Get a Bachelors Degree from a recognized College, with a major in Finance or Financial Management. Do not just rely on training from a Brokerage House or an Insurance Company. These will only equip you with enough knowledge to sell their products & services. You really need a broader understanding of the financial World. Once you have that, then the training from an insurance or a brokerage can equip you with product knowledge and teach you how to sell their services in answer to a prospects specific needs. -While training with an insurance or brokerage, begin studying to get a CFP designation. That will really round out your professional education. Also, begin reading Forbes & Business Week magazines and the daily Wall Street Journal newspaper.