Indy and couldn't be happier

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Feb 20, 2015 1:55 pm

Coming up on a year since I left the bank and went Indy at LPL.  It took 8 years in production to build up the clientele and courage to go on my own....but I am so happy I did.



Transitioned $20mm in AUM (75% fee based at 110bps average)


Purchased $32mm in AUM on a 4 year deal ($6mm fee based, $10mm in fee based conversion opportunity)



I understand that it takes time to build the business at a big wire or bank, but why anyone would stay after they have an established book is crazy.  I have an office, CRM, virtual assistant program that bills me by the hour, all the tech I need....and I am operating at a NET 79% payout.



Anyone who is thinking of going Indy PM me, it really has been a great experience.



Brian Jacobus


www.sunrisewealthmgmt.com


Feb 25, 2015 10:32 am

Don't tell everyone!!! Ha!! It has been great! I actually did the same thing last Aug. I have worked at the wirehouses and banks and finally just threw up my hands and said I can't do this anymore. I actually left with no real clientele. Just winged it and figured I would figure it out. Gained 10MM in assets in the first 6 months and now in talks with buying two books and taking on a partner to help manage those.

You should really talk to the LPL acquisition team if you are looking to buy more. They are in desperate need of reps taking over retiring books. I spoke to a guy in that department that said last year they did 64 in house buyouts, this year already they have done over 20 and working on 3 more right now.

Glad to hear others with great stories!!

May 22, 2015 1:30 pm

Good for you guys!.

I have known it is the best life for anyone with brains and smarts since I was 13 years old and I met an old financial advisor that told me to "sell, sell, sell and go independent".

Very happy for you!