Hedgefund broker opportunity - Pls help

[diceboy]

Hi guys,
I am total newbie when it comes to the financial markets, but have been in sales for over 10 yrs. I have now been offered a position as a hedge fund broker. Although training is provided the main issue here is that it is only commission based wages (for the first year and then the average monthly commission will become the basic pay and on top of that commission).
As I understand it is a great opportunity not only to learn (which I want to do) but also make a few bob. At the same time it is a very daunting to be on commission only wage; I need to have some guaranteed monthly income (have a family to support + mortgage etc...)

Sorry for rambling on but I don't know what to do and would be grateful for any advice

Many thanks in advance
Diceboy

 

[A Dashing Blade]

Wtf is a "hedge fund broker" supposed to do?
Bottom line diceboy, NO reputable financial company in the trading/broking area works on a comm only basis. Sounds like a bucket shop that's gonna do your cv no good in thje medium/long run.

 

[diceboy]

Thanks for the reply dashing blade. the position is mainly cold calling and selling the funds to corporate clients /institutions. The sales side of it is fine since "I can sell ice to Eskimos" as my old sales manager used to say, however its the uncertainty that it will bring that I don't know If it makes it worth pursuing, (have a small child to provide for and have certain responsibilities that goes with that). But also as you put it that "no reputable financial company works on comm only basis" well it doesn't make it better.

Thanks again for your reply,it definitely gave me some food for thought.

Diceboy

 

[ns1000]

I'd second dashingblade. I'm not sure what sort of sales you've been involved in up to know, but cold calling financial institutions is likely to be tough, especially in the current climate. The coming year is going to be a real struggle as institutions are likely to be extremely conservative in any investments they make, and if you're on commission only that will obviously mean you struggle to earn anything. The future is not likely to be great either if the salary in the second year is based on a lean first one.

With your responsibilities I really would think twice about this one.

 

[diceboy]

thanks ns1000 and dahingblade for your replies. I have contacted them and turned them down.

 

[red army]

Wtf is a "hedge fund broker" supposed to do?
Bottom line diceboy, NO reputable financial company in the trading/broking area works on a comm only basis. Sounds like a bucket shop that's gonna do your cv no good in thje medium/long run.

sounds like stock broking to me, will be tuff in the climate but good luck.........

 

[TomTom]

Hi Ya DICEBOY.
In any line of work the highest paid job in the world is in sales.

If your a good sales guy, taste the juice and if you dont like it go back to your current postion, as if you can sell ice to the eacimoes they will have you back.

However if they dont I will give you a job as every business needs good sales people .

So go for it M8

 

[stephen2003]

hedge fund

I am total newbie when it comes to the financial markets, but have been in sales for over 10 yrs. I have now been offered a position as a hedge fund broker. Although training is provided the main issue here is that it is only commission based wages (for the first year and then the average monthly commission will become the basic pay and on top of that commission).
As I understand it is a great opportunity not only to learn (which I want to do) but also make a few bob. At the same time it is a very daunting to be on commission only wage; I need to have some guaranteed monthly income (have a family to support + mortgage etc...)

Sorry for rambling on but I don't know what to do and would be grateful for any advice

Many thanks in advance
Diceboy[/QUOTE]







message to diceboy,
we say wages are for wimps,
this sounds like a great opportunity,
go for it,
who is it with?
i might join you there!!!!!!!!.

 

[diceboy]

Thank guys for the advice,
I spoke to them and told them regretfully I have to pass on this opportunity. They got back to me again and said because of my situation they would cut the commission only wage period down to 6 months. Although I found their offer very flattering the situation is the same, so I turned them down again. I have to put my family first, cant really afford chasing a pipe dream with the responsibilities I have. At the same time I have decided to study on my own and be more proactive in my learning and hopefully that pipe dream can become reality on day. (learning technical analysis first and then going over to fundamental)

(Mod feel free to move this to the noob section if you feel necessary) My interest and ambition is to be trading commodities (oil & metals) and currencies. Do you guys think that these are suitable for beginners or would you recommend other markets to learn
first.

Once again thank you for your replies and advices.

Diceboy
- chasing that dream -

 

[stephen2003]

hedgefund broker

HELLO

Thank guys for the advice,
I spoke to them and told them regretfully I have to pass on this opportunity. They got back to me again and said because of my situation they would cut the commission only wage period down to 6 months. Although I found their offer very flattering the situation is the same, so I turned them down again. I have to put my family first, cant really afford chasing a pipe dream with the responsibilities I have. At the same time I have decided to study on my own and be more proactive in my learning and hopefully that pipe dream can become reality on day. (learning technical analysis first and then going over to fundamental)

(Mod feel free to move this to the noob section if you feel necessary) My interest and ambition is to be trading commodities (oil & metals) and currencies. Do you guys think that these are suitable for beginners or would you recommend other markets to learn
first.


DICEBOY,
PLEASE LET ME HAVE THE NAME AND CONTACT DETAILS OF THE HEDGEFUND ASAP.
CHEERS.




Once again thank you for your replies and advices.

Diceboy
- chasing that dream -

 

[majicka]

HELLO

Stephen2003, do you work for a 'boiler room' out in Spain? I'd guess so from your posts..

 

[stephen2003]

hedgefund

Stephen2003, do you work for a 'boiler room' out in Spain? I'd guess so from your posts..

NO WHY DO YOU ASK?.
I AM SEMI-RETIRED AND TRADE VARIOUS MARKETS PART-TIME.