Number of Households

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Jan 7, 2010 1:07 pm

Curious to know how many households (not accounts or social security numbers) some of you guys have (feel free to round and/or tweak numbers for the sake of anonyminity).  If you’d like to add AUM and LOS for comparison sake, that would be great too.  Looking for a point of reference on what is truly “manageable.”  Thanks in advance.

   
Jan 7, 2010 1:38 pm

HH = 150 (I had 200, but I gave away about 50 last year when I did a “Partner Plan”)

LOS = 3.5 AUM = 18.5mm   I would like to get rid of about 50 more households (less than $1mm total - lot of SIMPLE accounts).  My mid-term goal is 250 HH @ $200K/HH (within 3-5 yrs.).  I don't really want to go over 250 HH.  In fact, I ultimately would like to be at 150 HH, 350K/HH within 7 years.  But my practice is to service my clients extensively, so it really doesn't make sense to have a ton of small accounts.  I also want to have a very manageable, low-overhead practice, which is tough with 1000 households.
Jan 7, 2010 1:54 pm

A little over 100 HH’s (I used to work at C with 1500 HH’s-- talk about crazy)

LOS-15 yrs AUM- Roughly $500mm (including assets held away such as 401k's annuities etc)((Working on a few deals to hopefully get over the $750mm mark this year :) ))   I would say you should evolve to a point to where you have less than 200 HH's.  It gives you far more time to devote to each person.  I like to use the analogy: You only have so many first class tickets eventually you have to seat people in coach.    The key is to be effective at evolving your book to move up market.  A friend once told me, in order to go after $10mm clients you need to say no to $5mm.....   
Jan 7, 2010 2:10 pm

[quote=iceco1d]

  On a side note...holy sh!t shantom!  You are the MAN![/quote]

+1!  holy sh!t!
Jan 7, 2010 2:23 pm

[quote=shantom1]A little over 100 HH’s (I used to work at C with 1500 HH’s-- talk about crazy)

LOS-15 yrs AUM- Roughly $500mm (including assets held away such as 401k's annuities etc)((Working on a few deals to hopefully get over the $750mm mark this year :) ))   I would say you should evolve to a point to where you have less than 200 HH's.  It gives you far more time to devote to each person.  I like to use the analogy: You only have so many first class tickets eventually you have to seat people in coach.    The key is to be effective at evolving your book to move up market.  A friend once told me, in order to go after $10mm clients you need to say no to $5mm.....   [/quote]   Holy crap - tell us more !!!!  
Jan 7, 2010 2:23 pm

I will be the first to say it is not the assets, its the return on assets (not saying the rev isn’t here, but I’m NOT getting 1% ROA).  If a company gives you $100mm to roll in 30 day tbills you will earn less than doing a decent annuity…

Jan 7, 2010 2:27 pm

Shantom has gone more than 50 posts without mentioning he/she is a whale. Incredible.

  If I were dealing with that sort of cheese, I would probably have the screen name $500mmAUM.
Jan 7, 2010 2:30 pm

And I probably should not have.  There are plenty of fish way bigger than me…

Jan 7, 2010 2:31 pm

If I was shantom I would just have the picture of a middle finger under my screen name !

Jan 7, 2010 2:35 pm

[quote=Ron 14]

If I was shantom I would just have the picture of a middle finger under my screen name !

[/quote] I doubt it. What's the gross on $500mm in CD's?
Jan 7, 2010 2:37 pm

[quote=Ron 14]

If I was shantom I would just have the picture of a middle finger under my screen name !

[/quote] I know your kidding, but seriously....
Jan 7, 2010 2:38 pm

Even if you turn 0.2% on 500mm, that’s $1m in production.

Jan 7, 2010 2:41 pm

I think you guys are taking what I said the wrong way. With 500mil AUM I would venture to say you don't need help from most of the scrubs on this site, me included.

Jan 7, 2010 2:41 pm

B24- FWIW (since I know the question is coming from someone LOL) 44 bps $2.2mm....

Jan 7, 2010 2:43 pm

[quote=Ron 14]

I think you guys are taking what I said the wrong way. With 500mil AUM I would venture to say you don't need help from most of the scrubs on this site, me included.

[/quote] The day you know everything you can only go down....
Jan 7, 2010 2:44 pm

[quote=Ron 14]

I think you guys are taking what I said the wrong way. With 500mil AUM I would venture to say you don't need help from most of the scrubs on this site, me included.

[/quote]   I'm not. I just like making jokes about you working at a bank.
Jan 7, 2010 2:44 pm

I rest my case. He took home 1.4mil last year.

Jan 7, 2010 2:45 pm

[quote=shantom1]

B24- FWIW (since I know the question is coming from someone LOL) 44 bps $2.2mm....

[/quote]   I was close.  What's a million +/- ??  
Jan 7, 2010 2:45 pm

Ron- Nope, I have a partner (but at least it’s not 50/50 :)…

Jan 7, 2010 2:47 pm

I don't get you new Jones guys at all. I work in a bank and you work in your bedroom for the same payout. Just because your mentor who is 5 years in and only produces 250k rips on bank FA's doesn't mean you have to. Have an original thought.

  I thought on the other thread you said 65%. I didnt know you had a partner. Ok. 700k take home, lol. Either way that is something to be proud of shantom.