I work in financial advisory for boomers

[Anonymous No.11426650]

AMA

[Anonymous No.11426677]

I have my licenses, experience selling and different roles. Mid 20s. Do you recommend for me to move to an FA position in the retail arm of a large bank? I know several in that positions making 500k a year. Is that biz dying out with the lower comission fees etc?

[Anonymous No.11426693]

I got my 7 and 63, enrolled in CFA. What do you think of analyst vs advisor roles?

[Anonymous No.11426695]

>>11426650
what do boomers want to buy the most of? what are they interested in investment wise?

[Anonymous No.11426702]

I graduated with an econ degree and all I could get was a temp job doing data analysis (basically bitch work). Should I go for a CFA or something? I have no idea how to get out of this hole, I have no hard skills.

[Anonymous No.11426733]

yall are like shit brand car salesmen. oh hey we take 1% and put you in pttrx and dfeox. oh spice it up? how bout high risk 60% index stock and 40%bond index? fucking qugmire of useless jobs

[Anonymous No.11426734]

>>11426650
how much do you make and where did you graduate

[Anonymous No.11426754]

>>11426695

I can answer that one for you:

>Mutual Funds

Most of them go for modest dividend payouts, like 3-5%. Not a whole lot of boomers I run into actually hold equities. But it makes sense since typically the younger ones fuck with stock to make some gains.

[Anonymous No.11426762]

>>11426702

What firm are you with and what do you analyze?

[Anonymous No.11426782]

>>11426762
they analyze kickbacks from mutual funds brands and ignore clients actual guidance. me: i like fat yield tax free a nd buy gold with income. the,: your gonna loco pimco total return it gets 3% - fees !

[Anonymous No.11426812]

>>11426762
I'm not going to tell you that, it would pretty much give away who I was. What I do is pretty much only going to help me maybe get a job as a trader, when combined with my other experience. It has almost nothing to do with financial analysis, which is what I want to go into.

[Anonymous No.11426819]

>>11426677
It depends if you’re ok with that kind of grind. Banks are probably the highest pressure situation for a FA.

>>11426693
I don’t know about American education standards. I am only experienced in financial advisory not analysis.

>>11426695
The majority of boomers are usually pretty risk averse. Once you get that close to retirement the last thing you want to do is bet the money you have left to get rich. Once you get to that age you don’t really care and just want a comfortable retirement.

Some of the higher net worth boomers who are a bit younger (say mid 50s) don’t mind to take more risk and invest in specific stocks (usually blue chip) and some international exposure like blue chip Asia.

Most of our clients have some exposure to stock markets but mostly through mutual funds. We usually do not recommend direct stock portfolios.

We do often recommend mutual property funds, however that can have liquidity implications.

We also occasionally recommend capital notes usually from banks, these have outperformed bonds by about 1-2%, however this is usually in addition to exposure to the lowest risk fixed interest.

>>11426702
Try to find a financial advisor assistant position in a good firm. Pretty much the best way to become an advisor.

>>11426733
That’s a very cynical view. Most people are financially illiterate. Our clients are very grateful for our advice, and they all do much better because of the advice. It doesn’t just relate to investing their money but tax and saving strategies as well.

>>11426734
Didn’t say I would answer everything

[Anonymous No.11426859]

>>11426782

Yeah, I like the idea of tax free. I want to own a shitload of municipals when I'm loaded. Love the idea of earning income and paying Uncle Burger nothing. Curious about how tax free mutual funds work in terms of taxes and whether things change for dividend vs interest and the fact that it's a managed fund.

[Anonymous No.11426872]

>>11426812

I see. I'm starting off on phones. Technically I'm a stock broker but the truth is I'm a glorified phone jockey atm. Shooting for equities analyst for the knowledge, but I think advisors have the chance to make a shit ton more. Anything with commission really. Not sure how hard I want to hustle.

[Anonymous No.11428227]

>>11426650
are you a zoomer

[Anonymous No.11428263]

>>11426650
I think bonds are a meme at current interest rates. Can I get away with a 95% equities portfolio if I only ever have to take out around 2-3% a year?

[Anonymous No.11429138]

>>11428263
Depends how risky the equities are and how much money you have.

Bonds are really a meme. In some (first world) countries you can find higher paying bank accounts than bonds.

[Anonymous No.11429229]

>>11426650
How many of them are itching to buy weed?

[Anonymous No.11429248]

>>11429229
0

[Anonymous No.11429328]

>>11429138

Does it bother you putting them in actively managed funds that have been proven to underperform the market at 10x the fees?

Do you sell them other scammy products like whole life insurance and annuities?

[Anonymous No.11429357]

>>11426650
What’s your favorite type of porn to jerk off to?

[Anonymous No.11429384]

How does it feel to be the lowest tier of the finance sector?

[Anonymous No.11429417]

>>11429328
That’s a meme. The whole ‘actively managed fund is worse than the market’ is only true if you leave them in the same funds the whole time.

If you are constantly monitoring the market and reviewing your client’s portfolio, you will move their funds around and achieve solid returns for the client.

>whole life
Absolutely not. We only recommend the regular term policies.

>annuities
Annuities are not a scam and are suitable for people in certain circumstances. Some people prefer the fixed income even if they lose the purchase value when they die. But we do not recommend those either.

>>11429357
The ones your mother is in

>>11429384
I wouldn’t know. I have never worked in payday loans.

[Anonymous No.11429429]

>>11429328
That’s a meme. The whole ‘actively managed fund is worse than the market’ is only true if you leave them in the same funds the whole time.

If you are constantly monitoring the market and reviewing your client’s portfolio, you will move their funds around and achieve solid returns for the client.

>whole life
Absolutely not. We only recommend the regular term policies.

>annuities
Annuities are not a scam and are suitable for people in certain circumstances. Some people prefer the fixed income even if they lose the purchase value when they die. But we do not recommend those either.

>>11429357
The ones your mother is in

>>11429384
I wouldn’t know. I have never worked in payday loans.

[Anonymous No.11429531]

I don't think you live in my country but maybe you can help me.

Is it a meme to buy a property? I was lucky and got stock netflix before all the normies used it, back in late 2014. Should I cash in and liquidate everything to buy a property without getting myself in a loan/debt? Properties around my area are getting really scarce and almost impossible to buy. I have an offer to a buy an old house that with some work i can raise it back up.

I work as a cook in a very fancy restaurant, so i have a stable income.

[Anonymous No.11429538]

>>11426650
whoever made that pepe is stupid, the glasses look shattered. I know they went for the glare but it doesn't look like that.

[Anonymous No.11430004]

>>11429531
There is nothing wrong with purchasing property if you can afford it outright. Are you still living at home or renting? It’s a question of do you really need to move out of home now? If yes then you should be happy your investment did so well to purchase a property outright. That’s why a large amount of people start investing in the first place.

The main thing is just deciding if you really want to purchase a property.

[Anonymous No.11431405]

>>11426650
It's is your duty to go full Bernie Madoff

[Anonymous No.11431808]

>>11431405

I also do the same thing, youll.be surprised how many millionares are too busy to manage their own money.

everyone thinks they are genius in bulk markets, but when shit hits the fan youll wish you had a better risk adjusted portfolio

[Anonymous No.11431985]

>>11426819
>Our clients are very grateful for our advice, and they all do much better because of the advice
What firms would you rec? AXAs fees seem like ass, NYL only wanted to offer me training for life. Would it be worth it to try with mass mutual or NWM? I'm currently a glorified data monkey at a commercial insurance place and need to get out. I just don't want to be caught in a situation where I'm stuck shilling inappropriate garbage again.

[Anonymous No.11431998]

Why are there 2-3 Edward Jones in every town. They are literally across the street from each other here and I never see anyone in there.

[Anonymous No.11432035]

Are you guys starting to advise boomers on a very small portion of assets in crypto like 1% in bitcoin? Or too risky? Or can't legally do that yet?

Also, you think a stock market crash is coming? I want a high dividend stock portfolio after crypto moons again but thinking if i wait a little that stocks will go down and can get in cheap

[Anonymous No.11432075]

With Fidelity entering crypto, are you going to allocate a small % of their funds to bitcoin? Doesn’t fidelity entering give you the confidence to do so?

[Anonymous No.11432106]

>>11426650
What are you advising to do now?

[Anonymous No.11432124]

>>11432035
>>11432075
>can't legally do that yet
This, probably. Fiduciary rules and whatnot. Not a CFA/CFP though. In theme of the stock market, it's hard to tell what it will look like. Consider just worrying about a good entry point and watch for that, alone. My favorite example of a good play in 2008 was ford, however.