THe youngest one’s I know are between 16 and 19 years old. Bankfc, the word, and guys like that. I don’t think they gather assets, per se, but they are handed about $24,000,000 per year.

Ignore Bobby Hull

Your first year you should try to bring in about $5m and your second year $10m.  And yes, that is what I did. 

But, you have to have about $40m to survive long run at the least.  Good luck.

For me, people who knew me were the best first accounts.  God bless every single one.

[quote=vbrainy]

Ignore Bobby Hull

Your first year you should try to bring in about $5m and your second year $10m.  And yes, that is what I did. 

But, you have to have about $40m to survive long run at the least.  Good luck.

For me, people who knew me were the best first accounts.  God bless every single one.

[/quote]

Why do you need $40 million in the long run?

Any info on how you came-up with the $40 million figure would be appreciated.

How much do you want to make?  If you have $40 million and a velocity of 75 bps, you'll gross $300K/year.  Assuming your firm pays 40%, you stand to make $120K/year at that level.  I personally aspire to a higher income level than that.  Heck, my current income level is higher than that and I hope that I'm far from the pinnacle of my career.  My guess is that most wirehouses wouldn't be satisfied with that level of production from a veteran, whether or not you are.  As brainy indicated, that would probably be the bare minimum to survive.

Unless you want a branch manager riding your ass, you probably need closer to 100 million if you're a veteran in this business.

[quote=Indyone]

How much do you want to make?  If you have $40 million and a velocity of 75 bps, you'll gross $300K/year.  Assuming your firm pays 40%, you stand to make $120K/year at that level.  I personally aspire to a higher income level than that.  Heck, my current income level is higher than that and I hope that I'm far from the pinnacle of my career.  My guess is that most wirehouses wouldn't be satisfied with that level of production from a veteran, whether or not you are.  As brainy indicated, that would probably be the bare minimum to survive.

Unless you want a branch manager riding your ass, you probably need closer to 100 million if you're a veteran in this business.

[/quote]

Got it IndyOne.  Thanks.

I was looking at it from an independent perspective and thinking 1% of $40 Million was $400k, which I thought was better than just "making it". 

From the wirehouse perspective, $40 million doesn't seem so great.

Thats why in the beginning you need to focus on accounts that are north of say $250K or $500K and are PAYING. It is not worth it to waste your time opening a $150K money market account unless there is potential for greater things...