Small Milestone reached today

congrats. i have always believed that is the first level of critical mass. even your bad months should be livable. once again, well done.

Congratulations, scrim!

Congrats scrim.  Any tips for the rest of us getting started?

Just be true to yourself and persevere!

  Good work.

At this pace, you’ll have a 100MM book in 9.5 more years!  Nice work!

very cool.  I am at 10m in month 15 so I hope I will be where you are too!!

Is your business comission or fee based?

About 12M is fee based.

The balance is in money market funds and individual MF's.

scrim

80% of your business in fee based is pretty darn good.

well, if you backed out my "cash" that's in plain money funds I would have 12k out of 16k fee based.

if you include cash  it's about 60%.

scrim

I know this is an old thread, I just have a quick question.

I’m in the process of building my book and am curious.

What is the average fee of the 12 million you have in fee based?  Let’s assume that it is 1%, which would 120,000 Gross, or 30,000 gross per quarter.  Is that the correct way to look at it? 

Thanks in advance.

[quote=ChrisB]
What is the average fee of the 12 million you have
in fee based?  Let’s assume that it is 1%, which would 120,000
Gross, or 30,000 gross per quarter.  Is that the correct way to
look at it? 

Thanks in advance.


[/quote]



Fee based is like building a very big annuity.

[quote=ChrisB]I know this is an old thread, I just have a quick question.

I'm in the process of building my book and am curious.

What is the average fee of the 12 million you have in fee based?  Let's assume that it is 1%, which would 120,000 Gross, or 30,000 gross per quarter.  Is that the correct way to look at it? 

Thanks in advance.

[/quote] There are different charges but it's averages around 1.35% annually.

I collect it in quarterly installments.

scrim

The road to 30M is going pretty smoothly.      I'm up to 24M total assets of which about 55% is fee based.

I did collect some of these assets from a departing colleague which I may have to give back once they hire someone to replace him.

Slow and steady wins the race!

scrim

scrim, why do you like coming on this site and tooting your own horn?

I like your updates, keep them coming.

Vin, we’re arrogant creatures by nature, I guess.  I don’t mind Scrim and others posting progress (I do it myself) as it gives me a real-time yardstick to measure against instead of some arbitrary manager budget number.  Assuming everyone’s truthful about production (which is probably a stretch), it’s good information to see where you stack up.

Congrats, scrim!

It's nice seeing someone grow their business, as you have.

keep up the good work Scrim.

that is good.  Many millions more to you.

Kinda stuck at $11m.  Prospecting like heck to get out of it.

[quote=Indyone]Vin, we're arrogant creatures by nature, I guess.  I don't mind Scrim and others posting progress (I do it myself) as it gives me a real-time yardstick to measure against instead of some arbitrary manager budget number.  Assuming everyone's truthful about production (which is probably a stretch), it's good information to see where you stack up.[/quote]

I hear you Indy...I just think it's kinda funny.

VD,

Thanks for the constructive feedback.

To echo Indyone, I mainly use these boards to track where I've been, where I'm at now, and where I want to be.

I started a different thread two years ago not to blow my own horn but actually out of shear frustration as I was struggling compared to my colleagues.

Since then the "Am I Just Not Good At This" thread has sort of taken on a life of its own.

If most of the posters on this board didn't like the thread I would probably cease posting.

scrim

before the grammar police descend:

"sheer"

scrim

[quote=scrim67]

VD,

Thanks for the constructive feedback.

To echo Indyone, I mainly use these boards to track where I've been, where I'm at now, and where I want to be.

I started a different thread two years ago not to blow my own horn but actually out of shear frustration as I was struggling compared to my colleagues.

Since then the "Am I Just Not Good At This" thread has sort of taken on a life of its own.

If most of the posters on this board didn't like the thread I would probably cease posting.

scrim

[/quote]

Im just pushing your buttons. Keep raising assets buddy!

I'm pretty even tempered so buttons were pushed very gently.

No offense taken

scrim

[quote=scrim67]

The road to 30M is going pretty smoothly.      I'm up to 24M total assets of which about 55% is fee based.

I did collect some of these assets from a departing colleague which I may have to give back once they hire someone to replace him.

Slow and steady wins the race!

scrim

[/quote]

anything special you are doing to rake in the assets?  Good job.

I don't do anything out of the ordinary.   I don't think there is a magic formula.

Persistence and perseverance mostly sprinkled with a good disposition.

scrim