The Benefits of Buying a Financial Advisory Book of Business

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The Benefits of Buying a Financial Advisory Book
of Business
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lucrative and rewarding
Despite the recent turmoil in the financial
markets, becoming a financial advisor remains one
of the most potentially lucrative and rewarding
career choice an ambitious and motivated young
professional can make.
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financial security
As a financial advisor, your income possibility
is unlimited, you have the ability to be in
business for yourself, and you get the reward of
knowing that you're helping your clients build
their own financial security as you build yours.
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becoming a financial advisor
Becoming a financial advisor isn't exactly
easy, however the rewards that draw people into
the profession usually aren't enjoyed right away.
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hard road
It can be a hard road, starting with passing
your securities exams (such as the Series 7 and
66) which have only been made more difficult
in response to the financial crisis of 2008.
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clients
Then there is the huge challenge of
obtaining clients. Obviously, without clients,
you won't make money.
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trust, savings
But convincing people to invest their trust
and their savings -- in you as a green advisor is
not always an easy task.
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book of business
One method used with great success by
financial advisors to surmount the challenge of
building a customer base is buying a book of
business from an existing advisor who is retiring
or leaving the profession.
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advantages
There are numerous advantages to doing this
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immediate income
Immediate Income. When you have clients on the
books, you immediately start generating Income
for your practice from those clients in the form
of fees and commissions.
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immediate income
Yes, there is a large financial outlay on your
part to buy a book of business, and this must be
done before any income is realized.
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immediate income
However, there are numerous business
financing options that can keep you cash flowing
positive even after buying a book of business.
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immediate income
If you play it smart, your income from your
book of business will outpace the monthly expense
of obtaining it.
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referral base
Referral Base. The clients in your new book of
business aren't only a great income source, they
are a great source for spreading the word about
your services to their own personal
and professional networks.
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referral base
If you take care of them and make a great
first impression, your name is likely to come up
in a positive light when they have
financial conversations with their friends and
associates.
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reputation and relationships
Reputation and Relationships. Chances are, the
advisor whose book of business you're buying has
a strong reputation in the industry.
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reputation and relationships
That's how he was able to build his client base.
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reputation and relationships
Aligning yourself with someone like that can
do wonders for your own nascent reputation,
and anytime you can build a relationship with
an experienced and successful advisor, it is good
for furthering your career.
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If you are considering buying a financial
advisory book of business, consider speaking to
financial advisor recruiters in Scottsdale.
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Recruiters aren't only good for helping you
find jobs, they can help you network with others
in the business.
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Sitting down at a financial advisor recruiting
firm Scottsdale and going over your desires,
long-term goals, and budget will allow you to
seek out the best prospects for buying a
financial advisory book of business.
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Rhino Search Group is a financial services
recruiting firm known for its valuable client
relationships with the most trusted financial
brands.
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Contact our financial advisor recruiters if you
are looking to make a move, or buy/sell a book of
business.
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Visit the site www.rhinosearchgroup.com
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Rhino Search Group 8970 E Raintree Drive Suite
300 Scottsdale AZ 85260 Phone
480-361-9490 Email pk_at_rhinosearchgroup.com