Vp

or Register to post new content in the forum

24 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.
May 27, 2007 6:09 pm

What gets an FA to become a VP? Is it based on production or some other criteria? Any insight is appreciated.

May 27, 2007 7:23 pm

Production.

I'm independent and my business card says "President."

May 27, 2007 7:49 pm

At most firms production. A friend I knew at Morgan said that you automatically become a VP at 30 million AUM with a production requirement inline with that number. (Not sure specifically but coldn't be 30 mill of all dead money.)  When I was interviewing for jobs last year I must have met at least ten different types of vice president:

Assistant VP, Associate VP, Senior VP, First VP (only at Wachovia...), Executive VP, Managing VP, Regional VP, on and on, etc. 

Basically these titles mean very little and are a means to a) give confidence to the customers and b) make employees happy in a way that costs absolutely nothing. (Every single FA in one office I interviewed at was some type of VP.)

More relevant to your question, a lot of positions at some firms automatically come with a VP title when no production is expected. (Branch managers, for example.)

May 28, 2007 12:39 am

It's all a bunch of balony that the wire houses use to miss represent the truth to the public.  Basically, if you fog mirror you can be a VP of some sorts.  Used to be that term actually ment something. 

At S.B. if your making about 80 thousand a year, your a second VP.  If you study for a few hours and take a simple easy test you become a financial planning specialist or I guess it's something else now like wealth consultant or something like that. 

May 28, 2007 1:13 am

[quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Interesting and a very good post.

Marketing Only:

What is more attractive?  V.P-Firm, or President-indy?
May 28, 2007 1:18 am

[quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
May 28, 2007 11:07 am

[quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

May 28, 2007 11:08 am

[quote=rightway] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Interesting and a very good post.

Marketing Only:

What is more attractive?  V.P-Firm, or President-indy?
[/quote]

You mean 2,000 VP's vs. 1 President?

May 28, 2007 1:51 pm

In a bank setting it raises your cap base.  Probably doesn’t ean much for most people here.  I knew a guy that came over and said I will only work here if I get VP on the card and they gave it.

May 28, 2007 8:40 pm

If I had to guess I’d say that Bank of America has the most VPs of any company on the planet. When I was there almost any manager was a VP, no matter how low level. (Monitoring calls in a customer service center, for example.) Most personal bankers were VPs after a certain amount of service. What does it cost the company to award the title? If it makes someone happy to be a VP rather than receiving a decent salary the company will make everyone VP.

May 28, 2007 10:56 pm

[quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
May 28, 2007 11:13 pm

[quote=Greenhills]

It's all a bunch of balony that the wire houses use to miss represent the truth to the public.  Basically, if you fog mirror you can be a VP of some sorts. [/quote]

I've gotten a ton of assets and clients since getting my 'baloney' title.  It's funny that people are more impressed with this sales title than the CFP.

May 28, 2007 11:27 pm

[quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
[/quote]

My last name is in the name of my company. Isn't that enough of a clue that I own the business?

May 28, 2007 11:42 pm

[quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
[/quote]

My last name is in the name of my company. Isn't that enough of a clue that I own the business?

[/quote]

Hull Incorporated?

Yes I suppose it is a clue.  I just think putting "president" comes across to business owners as phoney when there isn't really an organization over which one presides.

Not taking a potshot BH, just my opinion.
May 28, 2007 11:44 pm

[quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
[/quote]

My last name is in the name of my company. Isn't that enough of a clue that I own the business?

[/quote]

You should put HMFNIC on your cards.

May 28, 2007 11:46 pm

[quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
[/quote]

My last name is in the name of my company. Isn't that enough of a clue that I own the business?

[/quote]

Hull Incorporated?

Yes I suppose it is a clue.  I just think putting "president" comes across to business owners as phoney when there isn't really an organization over which one presides.

Not taking a potshot BH, just my opinion.
[/quote]

I'm giving serious thought to what you're saying. I appreciate it.

May 28, 2007 11:50 pm

[quote=Reggin][quote=Greenhills]

It's all a bunch of balony that the wire houses use to miss represent the truth to the public.  Basically, if you fog mirror you can be a VP of some sorts. [/quote]

I've gotten a ton of assets and clients since getting my 'baloney' title.  It's funny that people are more impressed with this sales title than the CFP.

[/quote]

Noone cares about CFP. It is a contrived title that is not transferable to other organizations. Thus, people have no point of reference.

May 28, 2007 11:51 pm

[quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull][quote=joedabrkr] [quote=Bobby Hull]

Production.

I'm independent and my business card says "President."

[/quote]

Mine says "owner".  I deal with a lot of business owners, and have found that they see through the BS when you put "president" on your card and it's you and a secretary.  But when you put "owner" on the card it sets a whole different tone where you are saying that you started the damn thing, your name is on the door, and the buck stops here.....
[/quote]

Thanks. I'll give that some thought.

[/quote]

Sure nuf.  It rings true and plays well.
[/quote]

My last name is in the name of my company. Isn't that enough of a clue that I own the business?

[/quote]

Hull Incorporated?

Yes I suppose it is a clue.  I just think putting "president" comes across to business owners as phoney when there isn't really an organization over which one presides.

Not taking a potshot BH, just my opinion.
[/quote]

I'm giving serious thought to what you're saying. I appreciate it.

[/quote]

What got me thinking about it was when I saw it on a vendor's business card...I think it might have been a graphics guy I hired to do my logo.  And then a few days later I was meeting with another fellow, and it was clear that he was a one man shop.  He gives me his business card and it said "President", and I was thinking...."C'mon dude, get real, ok?"

FYI, though, when it comes to things like tax filings if you have an S-Corp, or any state filings, I've learned you still need to use the more conventional title of "president".  I guess "owner" is just to simple a term for bureaucrats.

May 28, 2007 11:55 pm

[quote=Reggin]

You should put HMFNIC on your cards.

[/quote]


May 30, 2007 4:12 pm

So what does the title “associate director” mean?