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
iceco1d:
 
On a side note...holy sh!t shantom!  You are the MAN!



+1!  holy sh!t!

Jan 7, 2010 2:23 pm
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..... 
 
 
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
Ron 14:

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


I doubt it. What's the gross on $500mm in CD's?
Jan 7, 2010 2:37 pm
Ron 14:

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


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
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.


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

 
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
shantom1:

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

 
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.