The new RIA start shows the challenges for young consultants

Matt Jaskolka, a financial advisor in Virginia Beach, Virginia, left Oppenheimer to found his own registered investment advisor Jaskolka Financial.

However, the 31 -year -old Jaskolka says that the start contradicts the challenges with which he was created in the wealth management business.

When he was about 25 years old, Jaskolka von Warren, Pennsylvania, moved to Virginia, without knowing someone. He started cutting his teeth around 2020 in the Mutual in Northwestern. He got into the business to help people, but was instructed to sell life insurance.

“Every meeting on Monday was:” How many calls did you make? How many cold calls did you do? How many appointments have you determined? How many guidelines did you sell? “, He said,” I was told that the average consultant deserves 500,000 US dollars a year after her fifth year. You have autonomy. They grow out their business. They have an impact on people's lives. You are someone in the community. This is a life that is a career. However, nobody tells them what to do.

There were a few times with which he just wanted to stop.

He then moved to Carlson Financial, a family -oriented independent Ria. However, this company was strongly in defined index pensions and again felt pressure to promote a certain product.

Related:The former Ameriprise Exec starts consulting practice with John Thiel's indivisible partners Ria

After about three years with Carlson, he made the leap to Oppenheimer in early 2024, where his story was similar.

“To see how wholesalers or investment funds go through our doors and are constantly floating the next hot topic,” he said. “In my modest opinion it is not done.”

This pressure to sell certain products incorrectly rubbed him and he tried to do it properly and provided objective, impartial advice.

“How can I really look and say my customers in my eyes:” This is what you need, that's what you don't need “and not someone who breathes my neck down to constantly push something different.”

This inspired him to go out alone and start the Ria. Jaskolka's company is registered by the state, which means that it is $ 100 million to AUM, and he expects to switch its 35 to 40 customers.

He works with the XY Planning Network to help him set up. XYPN helped him to register and set up a compliance program. The support platform also helped him create the AUM model, the security guidelines and the business continuity plan. He uses Schwab for custody.

He also plans to use some of the discounted technology tools from Xypn, such as FP Pathfinder and Capitect.

Related:Great Hill is investing the first investments in the RIA market

He also sees the Xypn community of over 2,000 advisors as a great advantage, especially in view of its previous experiences.

“The whole rejection with which they deal with all the pain and suffering with which they deal with every day-it is so lonely.”