Start career as FA during COVID?

I currently work in retail banking as a Private Client Banker and am considering joining a local bank as an associate FA. There is a salary component ( about 50% of my current income) and a bonus component( about 25% of my current income for the first year projection). I can survive on this lower amount and know I’ll be making less money initially.

My question is around would you start a career as a financial advisor during covid? A portion of my clients would come from existing advisors but a large portion would come from calling existing bank clients for meetings and referrals of clients coming into the branch?

Thank you.

 

There are many, many people more knowledgeable in this field than I am. ( paging thebrofessor ) but be aware that the fail-out rate for entry level FAs who aren't taking over a book is around 90%. There is a lot of upside. As of 2015 the top of the BAML food chain could push a million bucks a year, but that is a tiny, tiny fraction of the workforce. I would not look at that number as a baseline, and realize that this move in anytime is a big gamble.

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 
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