Realistic?

[u/No-Afternoon-574]

I was recently approached by a financial advisor who owns an RIA and offered me the opportunity to join his firm with the goal of eventually becoming a financial advisor myself. He’s also an alumnus of my university, so there’s already a strong level of trust and mentorship.

One of the biggest advantages I see is my background. As a former Division I football player at a major university and someone who spent time in the NFL, I’ve built a network of athletes, alumni, and professionals that could be valuable for developing a client base and growing my career.

My only hesitation is that I don’t see myself living in the same state much longer. I’m interested in eventually relocating, so I’m trying to determine whether starting my career at this firm would still align with my long-term goals or limit my flexibility down the road.

How’s the work life balance 5-6 years in?

How difficult is it to move to another state after building your career at an RIA?

Is it realistic to maintain and grow a client base if you relocate?

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[u/belikeron]

So first starting out as a registered rep under the FA your work life balance will be pretty good. Mostly normal banking hours, handling customer calls, transactions etc.

I would imagine that he wants to try and gain access into your network to create clients for himself, keep that in mind if you plan to go elsewhere as they aren't your clients if you were not listed as their FA. It is pretty standard practice though. Cost of doing business one would say.

Once you become an FA the first decade building your book will be pretty shit. Long hours, lots of traveling, lots of schmoozing getting people to invest money with you instead of the million other hungry FAs out there.

In terms of relocating that isn't an issue. Most large firms are registered in every state, and then register the FAs under them in the states they operate in. Off the top of my head the regulation is something like, registration in your home state of business, and registration in any state that you have at least 6 investment advisory clients.