Top 40 under 40 "On Wall Streeet"

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Nov 29, 2006 11:14 am

Just saw the top 40 under 40 in this months "On wall Street"  Amazing that just about all of them got tons of assets by inheriting books from senior advisors or family connections....good for them - I wish it was me but I wish they would profile people who built it themselves.  Any thoughts

Nov 29, 2006 11:30 am
Brendan2:

Just saw the top 40 under 40 in this months "On wall Street"  Amazing that just about all of them got tons of assets by inheriting books from senior advisors or family connections....good for them - I wish it was me but I wish they would profile people who built it themselves.  Any thoughts


Yeah, it's tough reading about advisors who managed the tough climb to the top from the next to top step on the ladder. Why these rags waste space with these people is beyond me. That said, reread the profiles and look for how these advisors are gathering assets. if you see something you like investigate it as a business possiblity. If you really like it call the profiled advisor and ask for some time to talk.


Lastly, there are some who built it from scratch. Marty Paul cold called his way onto the list. Tom Rietano same. I'm a little fuzzy about how the cheerleader got to 80 mil. But, RAH RAH RE, KICK ME IN THE KNEE, she did it.


Generally, the profiles were lacking any real meat on how the businesses were built. Disappointing.

Nov 29, 2006 12:29 pm

Reminds me of the "success stories" AGE posts on the internal website. Really inspiring.....

Nov 29, 2006 3:26 pm

i know three people on the list. They had the wrong age on one of them

Nov 29, 2006 3:40 pm

Most people in this business succeed with luck or inherited accounts. I, by no means a super producer, inherited a lot of my book and then sold that book in the form of a upfront check. The funny thing is I think as many of the inherted account came with me than the ones I opened myself. This is the major advantage of the wirehouse system. This is also why the broker at the big firms have more assets. They inherit the accounts from past brokers, retiring brokers, brokers who jump ship and in the old days, call ins. then  they get referrals from those people. if they were like me, they probably do not even know who the bottom 10% of their book is.


My old office has brokers with 120 million in assets doing 400k. The office lost two thirds of their brokers 20 to 7 . If each broker leaves behind an average of 20 million. that is 260 million/7=37million each. There were some good accounts but many  more were high asset, no revenue account or just plain worthless time consuming people.



 Most people will not admit the story behind the story but there usually is one.

Nov 29, 2006 9:14 pm

This list is not complete, I personally know of two people who are not on the list and are outpacing the ones who are...

Nov 30, 2006 7:30 pm

Not bragging or anything, but next month, I'll be on this list for Registered Rep:


Top South Georgia Brokers Between The Ages Of 45 & 49


Yep, I have finally arrived and been recognized by my peers. Thanks Gomer, Bubba, & Willie! Yeehaw.....! I'll be easy to spot in the group picture, I'm the one with teeth.

Nov 30, 2006 10:07 pm

That was funneeeeee! Thanks.

Nov 30, 2006 10:42 pm

...just read the article and almost vomited.  While there are several notable exceptions, just as many of these guys have daddy or a fortuitous partnership to thank for their book.  One guy is trading on his famous last name.  I don't begrudge them their good fortune, but don't paint these people as success stories for me to emulate.


BFD.

Dec 1, 2006 12:22 am
doberman:

Not bragging or anything, but next month, I'll be on this list for Registered Rep:


Top South Georgia Brokers Between The Ages Of 45 & 49


Yep, I have finally arrived and been recognized by my peers. Thanks Gomer, Bubba, & Willie! Yeehaw.....! I'll be easy to spot in the group picture, I'm the one with teeth.





Dec 1, 2006 12:23 am

I'm under 35, have more in aum than 1/2 of them and better production that 3/4 and I had NO help. Smiled and dialed!! Come to think of it where is my name

Dec 1, 2006 2:28 am

I should not drink when I post but I also believe i qualify seeing as i would be right there for assets (approximately 24th) but not sure on the production qualifications.

Dec 1, 2006 3:19 am

The way YOU or anyone else gets on those lists is to have your branch manager do a little "STRONG BUY" shilling for you.


Kudos to those of you who "should have/could have" made it without "lotsa" help!

Dec 1, 2006 7:17 am

I haven't seen this yet. What was their avg. AUM and production?


Dec 1, 2006 2:29 pm
whalehunter:

I'm under 35, have more in aum than 1/2 of them and better production that 3/4 and I had NO help. Smiled and dialed!! Come to think of it where is my name


Good for you...THAT I'll clap for...

Dec 1, 2006 2:30 pm
skolbrother:

I should not drink when I post but I also believe i qualify seeing as i would be right there for assets (approximately 24th) but not sure on the production qualifications.


Assuming that dad didn't help you either...