For ML FA's, is this a myth or fact:
For new clients, min. account size must be 100k (within household) within the first 12 months of production to avoid chargebacks.
How attainable is this min. for new to the industry?
Not true. For traditional transaction-based accounts, the minimum size is $100,000. But a client can walk in the door with $25k, and you can put him in managed accounts, C-share funds, level-load annuities--and still get paid on the accounts. But if he wants to buy CD's, you'll be charged back on the commissions if you can't bring in more assets to get him to $100k.
Fee-based is the only way to go anyhow, and those minimums are easy to get.