Independents who came from a wireshouse

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Jun 2, 2006 4:46 pm

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.

Jun 2, 2006 4:48 pm

The you need to read "jumping Ship" in this month's On Wall Street.

Jun 2, 2006 5:30 pm

nice article

however, it was more explanatory than statistical

I want numbers!



for example: how much would a FA make at a wirehouse with 50mil AUM

compared to that same amount as an independent?





Also in the article it states that only 3% of FA's working in the wirehouses

do not make it, contrary to what everyone is saying on this forum which is

80% fail!!! PLEASE EXPLAIN!

Jun 2, 2006 7:38 pm
brothaK:

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.



Do you even have a job?

Jun 2, 2006 8:05 pm

brothaK,



First you need to be worried about getting hired somewhere, next you
need to do a good job, and by the way I haven't heard of any successful
brokers being called brotha,  nevertheless, you are getting the
cart before the horse, I have read some of your previous posts, and you
need to quit asking so many questions and read more.

Jun 2, 2006 9:21 pm

lol
i am working somewhere and yes i'm reading, i'm not too worried about survival, however the reason i am asking questions is just to know what's the best route to take.
least stress, best pay etc etc

doesnt hurt to ask about others' experience

for example: I see many indys who were bank reps at first, which seams a lot less stressful than working at a wirehouse

so if at the end I want to go independent wouldnt it be best to work at a bank?
however, I dont see as much people going to the independent business from wirehouses and the reps that I see working there have a good amount of stress, even the well established wirehouse brokers.

Jun 3, 2006 1:43 pm
brothaK:

nice article



however, it was more explanatory than statistical



I want numbers!



for example: how much would a FA make at a wirehouse with 50mil

AUM compared to that same amount as an independent?





Also in the article it states that only 3% of FA's working in the

wirehouses do not make it, contrary to what everyone is saying on this

forum which is 80% fail!!! PLEASE EXPLAIN!



I would say that an indy with 50 mil aum would net about 70% of gross,

whereas a wire would get around 40%.



On the 3% number, I got the impression that this is AFTER the initial

weeding out probationary period where most fail. Of the reps who make

it, 97% of them stick, and 3% get cut for not continuing to progress their

production.

Jun 3, 2006 2:57 pm

"i'm not too worried about survival"...


Huh.... Everyday I worry about survival.... It eats at me and drives me to work those Sat mornings, to make the extra call, to work 60-70 hours per week,etc...


Must be nice for you to not have to worry about survival.... Based on your posts I feel you just dont get it.... Your tenure in this life may be short lived....

Jun 3, 2006 6:38 pm

"Huh.... Everyday I worry about survival.... It eats at me and drives me to work those Sat mornings, to make the extra call, to work 60-70 hours per week,etc..."


Well said.  Way to teach a Brotha somethin'!

Jun 3, 2006 11:32 pm

by the way how true is it, that the newbies at the wirehouses, just are
added to be disposed later with the assests they gained dispersed among
the current brokers, this semi-scares me

Jun 4, 2006 2:43 am
nasal spray:
brothaK:

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.



Do you even have a job?



Glad to see you are back topgun/dirk/remote/nasal, how long do you think you will last this time? 

Jun 4, 2006 9:24 am
lawsucks:
nasal spray:
brothaK:

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.



Do you even have a job?



Glad to see you are back topgun/dirk/remote/nasal, how long do you think you will last this time? 



A month, give or take.

Jun 4, 2006 9:25 am

Indy still looks like the way to go if you have at least 25 mill aum. Don;t think I'd try it otherwise unless they forced my hand.

Jun 4, 2006 1:46 pm
nasal spray:
lawsucks:
nasal spray:
brothaK:

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.



Do you even have a job?



Glad to see you are back topgun/dirk/remote/nasal, how long do you think you will last this time? 



A month, give or take.



You forgot to add Roger Thornhill when Dirk/et al was Cary Grant.   Rembember when we had photo avatars we could use? 

Jun 5, 2006 10:50 am
lawsucks:
nasal spray:
brothaK:

Just wondering if their were any independents who came from wirehouses?


what I am noticing is that most of the independents come from banks.


Do you even have a job?



Glad to see you are back topgun/dirk/remote/nasal, how long do you think you will last this time? 



law, you sound like one of the 'old crew' too.  you going to fess up?