Am I just not good at this?
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Yep, not fun.
Some of the loss is of course market losses and some is clients "firing" me or changing their investments out of the mutual fund wrap program to something else. Hopefully I can build up my base back towards 15M next year. ScrimScrim,
How are things going? If you are up for it, we are all curious. Thanks for sharing your data.I’ll update at the end of March for a quarterly update:
If I can make it thru this I can make it thru anything :) scrim145 for 8.5m
My quarterly trails for March were about 25k which I am thankful. Building a mainly annuitized business from the beginning will hopefully smooth out the everpresent roughspots we are experiencing at the present time. When this is "over" i'm anticipating my business will come out stronger than before. Wishful thinking? scrimJust an interesting fact as I am looking at my sales group's May numbers. Out of all commissions generated from our group about 80% were from annuity sales.
Mine were 0%. hmmmm scrimyour very first post you mentioned another FA who was doing 5x what you were doing going for the big ticket items early, what is his story, is he converting those people to managed money now ?
Scrim, I’m curious what goes into the “trails” part of your biz. I see back in April you had 8.5 mil AUM, but $25k of trails YTD. At $25k per 3 months at 25 basis pts that would equal about $40 mil AUM to get that. Is that also including wrap fees?
I like to see your accounts drop but your AUM increase, get rid of the dead weight!Ahh…thanks to Ron I just went back and saw your 1st post which mentioned you do (or did, in 2005) primarily wrap accounts, so I’ll assume that was what went into your “trail” calculations.
My overall production is trending about 30% less than 2008 but I'm hoping this is just a one year blip that many other reps are experiencing.
Yes, I these numbers are based on my mutual fund wrap biz which averages about a 1.4% yearly trail paid quarterly to my grid. At my apex I had almost 15M. Not sure how long it will take to get back up there. 2011? scrimThat’s not actually that high compared to most mutual fund wrap account programs I’ve run into. I’ve spoken with some prospects that said their wrap fee is north of 1.5%. One, who is now a client, said his was 1.75%.
Seems about average from what I have seen also. Highest I saw was 2.25%, lowest 1.25%.
Do wrap accounts at wires and indys also include 12b1 fees and exp. ratios of the underlying mutual funds?
How do you guys feel about discounting your fees? For example, I have a client that has invested with me but only on stocks and bonds. They have 500k at Vanguard and they are very “load / fee sensitive” No chance I’ll get them with an A or C share but I’ve started to pitch advisory solutions to them and went in with a 1.25% total fee - .10 discount and I can go down another .10. Good or bad move?
Discount it as much as possible. It’s a mutual fund wrap. The value you add is very little.
So, it’s 1.25% including fund expenses? That’s not bad, if so.
Yes, my wrap is approx 1.4% PLUS MF expenses so all-in is around 2.1% give or take