EDJ to LPL or RJ

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May 19, 2011 6:24 pm

Okay, just like so many before me.

7 yr vet at the firm, 46mm, 415k GDC, half is fee based.  Numbers changed slightly to protect identity.

I have a top heavy book.  Ready to go independent, but need someone to push me into the water.

Here is my view of the firms:

LPL - Everything a la carte, you want it you pay for it.  Seem to have heavy admin fee's on advisory. Truly independent and much bigger than RJ

RJ - Picks up more of the little costs, not nickel and dimed, but still connected to a big firm.  Payouts are a little less.

Here are my fears:

-Who will come?  What can I do now to get more retention?

-Do I brand myself or use the firm name? Does it matter?

-How long is the painful transition process before I can get back to normalcy?

I know threads like this are out there, but I thought I would throw one out there to see if there is any fresh responses. 

May 19, 2011 9:24 pm

EJ, I left JOnes last year and started my own RIA with a lot less in assets. Give me a PM if you want my feedback.