Some insight?

or Register to post new content in the forum

15 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 30, 2007 1:58 pm

I noticed scrim said it has been 30 months to get 20mil AUM and expects to have 30AUM by year 5.


They would give someone over 5 years at a wire to get 30 million AUM? My impression after interviewing with companies is that they would want to see that much sooner.


Would 20-30 AUM be average at a company like RJF? 


I know each branch has it's own policies but at RJF the trails are a small .25 for anything under 150k production, but over that it is much more. So I am assuming they would like to see 20-30 AUM asap? Would they actually give someone over 5 years to attain over 150k production? (from your experience I know all branches are different, but in general?)


For some reason the way everyone talks on these boards is that there is a slim chance of them giving an individual 5 years at wire to get 20-30 mil AUM. I am just trying to get an idea here, am I totally wrong?

Jan 30, 2007 2:06 pm
JackPA:

I noticed scrim said it has been 30 months to get 20mil AUM and expects to have 30AUM by year 5.


They would give someone over 5 years at a wire to get 30 million AUM? My impression after interviewing with companies is that they would want to see that much sooner.


Would 20-30 AUM be average at a company like RJF? 


I know each branch has it's own policies but at RJF the trails are a small .25 for anything under 150k production, but over that it is much more. So I am assuming they would like to see 20-30 AUM asap? Would they actually give someone over 5 years to attain over 150k production? (from your experience I know all branches are different, but in general?)


For some reason the way everyone talks on these boards is that there is a slim chance of them giving an individual 5 years at wire to get 20-30 mil AUM. I am just trying to get an idea here, am I totally wrong?



You should work on your reading comprehension skills....

Jan 30, 2007 2:09 pm

Alright Joe? So this is average and expected for 5 years? or would one be sweating bullets on a close call.

Jan 30, 2007 2:13 pm

I think Joe means that scrim never said it would take him another 30 months to hit $30 mil.  He just said on to $30 mil, thus the jab at your reading comprehension. 

Jan 30, 2007 2:18 pm

What was said by scrim - "My overall AUM in 2.5 years is 20M starting from almost zero. So the 30M total AUM should come in another 12-18 months I project"   ...thus the we are presented with a 5 year time period, or close to it.


So I guess you wouldn't like to answer the initial question? I am not coming on here to argue about reading skills or grammer.

Jan 30, 2007 2:56 pm
JackPA:

What was said by scrim - "My overall AUM in 2.5 years is 20M starting from almost zero. So the 30M total AUM should come in another 12-18 months I project"   ...thus the we are presented with a 5 year time period, or close to it.


So I guess you wouldn't like to answer the initial question? I am not coming on here to argue about reading skills or grammer.



Not sure where you are getting your info but your memory, and/or math skills are a little off, 30 months + 12-18 months = 3 and 1/2 to 4 years, biiig difference in between that and 5 years.  What Scrim actually said (that I saw) was:



Book hit 20M today.


I almost started from scratch around 30 months ago.


Ok enough celebrating, back to work and reaching 30M.


scrim


 

Jan 30, 2007 3:00 pm
ExPropTrader:
JackPA:

What was said by scrim - "My overall AUM in 2.5 years is 20M starting from almost zero. So the 30M total AUM should come in another 12-18 months I project"   ...thus the we are presented with a 5 year time period, or close to it.


So I guess you wouldn't like to answer the initial question? I am not coming on here to argue about reading skills or grammer.


Not sure where you are getting your info but your memory, and/or math skills are a little off, 30 months + 12-18 months = 3 and 1/2 to 4 years, biiig difference in between that and 5 years.  What Scrim actually said (that I saw) was:



Book hit 20M today.


I almost started from scratch around 30 months ago.


Ok enough celebrating, back to work and reaching 30M.


scrim


 



Exactly-not only are his reading skills apparently poor, but so is his basic arithmetic.

Jan 30, 2007 3:10 pm

What the hell is wrong with you? Do you enjoy coming on here just to correct people? How about answering the damn question. You have the right to correct me when you are get an MBA from Stanford also. And if you would realllllly like to go see his roughly five yr projection for yourself go read the fee vs transaction based thread.

Jan 30, 2007 3:11 pm

*get an

Jan 30, 2007 3:32 pm
JackPA:

What the hell is wrong with you?(Nothing.  What's wrong with you?) Do you enjoy coming on here just to correct people?(No, just you!) How about answering the damn question.(There should have been a question mark at the end of that sentence.) You have the right to correct me when you are get an MBA from Stanford also.(huh?) And if you would realllllly like to go see his roughly five yr projection for yourself go read the fee vs transaction based thread.



I guess we have literacy challenges, and problems with temper control as well.

I may nitpick now and then, sometimes just for fun.  But I don't need to "you are get an MBA from Stanford also" to write in proper sentences with correct spelling and grammar.  Nor do I need your permission to speak my mind, Mr. Fancypants.

I guess they don't teach or screen basic writing skills at the Stanford MBA program.  Just goes to show you why so many MBA's fail out of brokerage firm training programs.

Why don't you consider a career in consulting?  It seems like many MBA's go there.  You don't need to produce anything useful, just wear a pretty suit and speak "corporate".

Jan 30, 2007 3:35 pm
JackPA:

What the hell is wrong with you? Do you enjoy coming on here just to correct people? How about answering the damn question. You have the right to correct me when you are get an MBA from Stanford also. And if you would realllllly like to go see his roughly five yr projection for yourself go read the fee vs transaction based thread.



I apologize, I did not read the other thread, however, if you had read Scrim's reply to you you would see that he replied to you that he was just talking about the fee-based part of his book.


A big part of this board is about friendly (and sometimes not-so friendly) debate and discussion.  I think the members that have been on here a while get a little tired of answering the same questions and spoon-feeding the newbies. 


Knowing that you may want to grow a little thicker skin, and no one cares where your degree is from if you can't do fourth grade math.

Jan 30, 2007 3:45 pm
ExPropTrader:

...and no one cares where your degree is from if you can't do fourth grade math.



Exactly!

Jan 30, 2007 3:54 pm
JackPA:

I noticed scrim said it has been 30 months to get 20mil AUM and expects to have 30AUM by year 5.


They would give someone over 5 years at a wire to get 30 million AUM? My impression after interviewing with companies is that they would want to see that much sooner.


Would 20-30 AUM be average at a company like RJF? 


I know each branch has it's own policies but at RJF the trails are a small .25 for anything under 150k production, but over that it is much more. So I am assuming they would like to see 20-30 AUM asap? Would they actually give someone over 5 years to attain over 150k production? (from your experience I know all branches are different, but in general?)


For some reason the way everyone talks on these boards is that there is a slim chance of them giving an individual 5 years at wire to get 20-30 mil AUM. I am just trying to get an idea here, am I totally wrong?



You're not totally wrong. AUM is just one part of the picture. Number of new accounts, and production also come into play. Production is the most important number, though the suits won't tell you that.


The difference between 20 and 30 is huge. In my expierience at a major wire I never saw anyone who was meeting other benchmarks released even at the 20 mark after five years. Yet, production was key. I left that wire a few years ago, so maybe things have changed.


As a newly minted rookie you need to concentrate on what it takes to succeed, not what it takes to get canned. This isn't to bad rap you, just to get you thinking like a winner instead of a whiner. Not that I know enough to call you either. Today, there are trainees starting that will go on to become among this industries largest producers. They are thinking "What do I have to do to become the top producer in my branch, my region, my company." Plug that into your thinking.


As for the criticism of your reading skills, warranted or not, get use to the way it is. This industry is for top performers. You'll get called on any weakness everytime. That goes for here as well as your branch.


I'm nailed on regular basis for poor grammar and spelling. I realize my shortcomings so I usually let it slide off my back.

Jan 30, 2007 4:09 pm
JackPA:

What the hell is wrong with you? Do you enjoy coming on here just to correct people? How about answering the damn question. You have the right to correct me when you are get an MBA from Stanford also. And if you would realllllly like to go see his roughly five yr projection for yourself go read the fee vs transaction based thread.



Thanks Jack for validating my previous posts regarding the need for a college degree.

Jan 30, 2007 11:26 pm
ExPropTrader:

  I think the members that have been on here a while get a little tired of answering the same questions and spoon-feeding the newbies. 


..and who is forcing them to answer at all?