Can sense the vultures circling

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Dec 10, 2010 9:32 pm

Will try to give all the needed info without dragging this out too long.  Work for a large wirehouse and am approaching 3 years in.  I love the biz and this is what I want to do although  I have been getting the pressure to hit the 3 year #'s and am starting to explore my options. I am pretty confident that it is hit the mark or hit the door, though I do have a pretty supportive branch manager so if insurance policies etc are in the works I will get a little slack.     Need to be at 100K by Feb 1 to hit the goals. Current have about 5m AUM and 70K trailing 12.    I will be the first to admit the mergers knocked the wind out of my sails and then I wasted the first half of this year.  Although the pipeline is slowly filling back up it is moving very slow and has very little in the immediate future.   I am trying to build my book (in my opinion) the "right way" for the long term and have about 2.5 in fee based (non proprietary) accounts.   With the fee revenue in the next couple of months and avail cash with no new assets I will still be well short.   Looking for a little advice on where my best options would be - Is the 6 weeks time a doable to bring in the assets needed or is it best to start looking.  If looking is the best option - where is the best place to look.   Indies/Banks/Trust departments etc. ? (as a side note - I have the 7/66 and 31 /Clean U4, but do lack a college degree.)  Thanks in advance your insight. 

Dec 11, 2010 1:06 am

I would try the bank route, do that for a few years, build up strong numbers and you will have plenty of options.

Dec 13, 2010 5:01 pm

If you have a back up plan, it's hard to execute plan A.

You have enough time to do 30 grand in gross. But, it would be intense, and you need to focus.

Otherwise, LA is right, but that means starting all over again. And trust me, I've started over a bunch of times, it sucks. Unless your current place of biz is TERRIBLE, get moving, make your goal happen. You'd be surprised how much you can do, with a gun to your head.