Just a thought

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Sep 16, 2005 8:32 am

A friend of mine with about 18 mill AUM and about 130k gross in trails and fees just left the profession to go to work for private bank. His trailing 12 was about 165k. He had been in the biz for about 3 years. He'll make about 65k and a 10% bonus. He had to give up his series 7 to do it. Why would anyone this far along do that?

Sep 16, 2005 8:54 am

Perceives his move to be an easier way to make the same money

Sep 16, 2005 12:17 pm

ezmoney, was your friend struggling in the  business? If you don't mind my asking, what private bank did you buddy go to and what is his role/duties? It's kinda weird to hear that he had to give up his series 7, usually, private banks want their relationship managers to be fully licenses. thx