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