Number of Households
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[quote=Ron 14]
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 you 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.[/quote] Easy Ron, you know I love you. Just getting your goat. If you want to make fun of the fact that all my portfolios are made of Bond Fund of America, Investment Company of America, and Capital Income Builder, or that my average account size is $10k, or that I am a Jehovah's Witness dressed as an FA, etc/etc/etc, go ahead.[quote=SometimesNowhere][quote=Ron 14]
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 you 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.[/quote] Easy Ron, you know I love you. Just getting your goat. If you want to make fun of the fact that all my portfolios are made of Bond Fund of America, Investment Company of America, and Capital Income Builder, or that my average account size is $10k, or that I am a Jehovah's Witness dressed as an FA, etc/etc/etc, go ahead. [/quote] Oh boy, where shall we startI have to say, these forums are like my family at Christmas. Can’t get through a fukcing conversation without an argument!
Ok. I take it from so many sides ( insert gay joke here ) that I don’t always know who is being sarcastic or not. When you are a 32yr old male teller you can become easily offended !
Screw you B24 and the ship you came in onI have to say, these forums are like my family at Christmas. Can’t get through a fukcing conversation without an argument!
No, don't. I'm easily offended and will report you immediately.Ok. I take it from so many sides ( insert gay joke here ) that I don’t always know who is being sarcastic or not. When you are a 32yr old male teller you can become easily offended !
Screw you B24 and the ship you came in on [/quote][quote=B24]I have to say, these forums are like my family at Christmas. Can’t get through a fukcing conversation without an argument!
[quote=shantom1]… I like to use the analogy: You only have so many first class tickets eventually you have to seat people in coach.
....[/quote] Great stuff. At an average household of $5MM (did I get that right? holy crap) ... you know, I don't think there are 100 5MM households in the two counties around my home. That's straight up truth. Staggering.[quote=LockEDJ][quote=shantom1]… I like to use the analogy: You only have so many first class tickets eventually you have to seat people in coach.
....[/quote] Great stuff. At an average household of $5MM (did I get that right? holy crap) ... you know, I don't think there are 100 5MM households in the two counties around my home. That's straight up truth. Staggering.[/quote]If there are, they are probably Shantom's clients.
BTW, just to unhijack the thread, I have north of 200 households with an average account size of $25k. I know, I know. Many households I inherited over are tiny accounts or people that liquidated and moved elsewhere. If it weren't for the accounts I brought in I think my average account size would be $5k like Ron's.
[quote=LockEDJ] [quote=shantom1]… I like to use the analogy: You only have so many first class tickets eventually you have to seat people in coach.
Great stuff.
At an average household of $5MM (did I get that right? holy crap) … you know, I don’t think there are 100 5MM households in the two counties around my home. That’s straight up truth. Staggering.[/quote]
I have a few HH’s that mess with the numbers. Most of my individual clients are between $1mm and $15mm. I also do quite a bit of work with corporate assets- i.e. managing their cash/investments and 401k’s (where I am shifting most of my business).
I do work in metro NY, so we have a high concentration of wealthy clients…
I have 300 households and 1 billion under mgmt. (Should be 2.5 billion after February)
LOL
This board has more bullsheet than MLGONE has gay porn.
You pikers getting excited about some fake name bragging about his fake numbers is priceless.
[quote=iceco1d] Thanks for the input guys.DD = Meletio.
[/quote]
icecold = teachers advisor
[quote=shantom1]
I have a few HH’s that mess with the numbers. Most of my individual clients are between $1mm and $15mm. I also do quite a bit of work with corporate assets- i.e. managing their cash/investments and 401k’s (where I am shifting most of my business).
I do work in metro NY, so we have a high concentration of wealthy clients…[/quote]
This is actually the business model I am trying to work towards, on a much smaller scale. Handle the 401k for the business, handle the owners money, work closely with key employees. Problem is that there are fewer and fewer firms out there, meaning I have to extend my geographical reach.
In order to be competitive in the 401k market you must differentiate yourself from the pack. Find a model that no one else is using (that has been my secret) and exploit it with your prospects. I will give you one hint: pretend you are the decision maker at the company. What would you want more than anything from a new advisor talking about your plan. Answer that question and you will close a great deal of the plans you talk to (some do take 1-2 yrs though, that's the nature of the business). Oh, and you can't just cold call them (not for the real plans), you need a warm lead. Keep in mind these plans are public knowledge- every rep with 150 miles has tried to get it already....[quote=shantom1]
I have a few HH’s that mess with the numbers. Most of my individual clients are between $1mm and $15mm. I also do quite a bit of work with corporate assets- i.e. managing their cash/investments and 401k’s (where I am shifting most of my business).
I do work in metro NY, so we have a high concentration of wealthy clients…[/quote]
This is actually the business model I am trying to work towards, on a much smaller scale. Handle the 401k for the business, handle the owners money, work closely with key employees. Problem is that there are fewer and fewer firms out there, meaning I have to extend my geographical reach.
[quote=iceco1d] 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.
[/quote]
Households - 78
LOS - 1 Year
AUM - 13M
Average Household - $160,000
Like i’ve said in numerous posts though, I try and keep less households with more manageable assets. It’s easier to manage and easier to keep them happy.