[jotucker1983]

Cardinal,

Yes, I agree and number two is a good point. To me, it appears as though too many people come under number one at times, where they are looking for another person "more experienced" to do the work for them as you laid out.

I think it depends though on where the person is in their career within this industry. If they are just starting out, I think they need to work under another broker for about a year to learn the basics, allow that broker to help them formulate their business plans, accounting sources, legal sources, capital sources, etc. and after a year they go out into the marketplace on their own running their own office.

I do know in this case it could seem as though the broker is "training his competition," but if he gets something out of it such as full residual/renewal ownership of the accounts the new guy boarded while employed under the broker, it might be worth it. Plus, the broker shouldn't teach them everything but instead function more as a mentor.

If the person has already been in this industry for awhile, then I think they ought to be at the point to where they understand the risk nature of the various applications they receive, and have 1-3 different sources lined up once they receive apps with those pre-qualified measures.

[cardinalequity]

Agreed!! Well said...

Cardinal,

Yes, I agree and number two is a good point. To me, it appears as though too many people come under number one at times, where they are looking for another person "more experienced" to do the work for them as you laid out.

I think it depends though on where the person is in their career within this industry. If they are just starting out, I think they need to work under another broker for about a year to learn the basics, allow that broker to help them formulate their business plans, accounting sources, legal sources, capital sources, etc. and after a year they go out into the marketplace on their own running their own office.

I do know in this case it could seem as though the broker is "training his competition," but if he gets something out of it such as full residual/renewal ownership of the accounts the new guy boarded while employed under the broker, it might be worth it. Plus, the broker shouldn't teach them everything but instead function more as a mentor.

If the person has already been in this industry for awhile, then I think they ought to be at the point to where they understand the risk nature of the various applications they receive, and have 1-3 different sources lined up once they receive apps with those pre-qualified measures.