1.7 KiB
1.7 KiB
What is your professional background?
- investment wholesaler
- many in this area follow a similar track
What led you to start your own business?
- always been in financial serivices
- in corporate side, customers were financial advisers
- learned advantages/disadvantages
- wanted control of calendar and compensation
- salary + sales quotas
- didnt feel underpayed
- not direct correlation between efforts and compensation
- no corporate buffer when self-employed (what you put in is what you get out)
- valuing time vs. money
- more control over travel (lots of travel selling investment products)
What was the process of starting the business like?
- lots of things to juggle (hiring, firing)
- started business with a client from corporate world
- having multiple people leading makes the company more robust
- having a succession plan
What company are you franchised under?
- ameriprise financial
- under contract, but could leave the franchise
- could join a different franchise or become independent
- registered investment advisor (more entrepreneurial)
- spectrum of employee to entrepreneur
What kind of business is it
- franchise makes business run more smoothly
merge with other ameriprise practice ameriprise is most expensive but probably worth it protocol for leaving
- ameriprise own client files
- keep clients, but ameriprise alerts them that practice is no longer affiliated
Selling the business
self-employed franchise circular corporate employee - enterprise financial
- use investment products
- financial advisor
PROS & CONS of franchising
-
parameters
-
framework
-
requirements
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compliance (highly regulated business)
-
responisble for own expenses (no salary)
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corporate has expense account