AGE Brokers Should Start Thier Own BDs
16 RepliesJump to last post
OK guys, stop the whining, stop the bitching, stop the worry and accpet the fact - Bagby dropped the big one - classic green mail scheme. He and the shareholders win. You brokers were on the other side of the equation - you loose. Why don't you get together with you some of your buddies, file a BD and start your own firm. Probably will take about $200,000 in seed capital - then you keep all of the trails, all of the commissions, all of the fees. Or just start an RIA and hold you accounts at Scottrade and charge you clients 1% AUM - you and your clients come out way better.
Do you guys have any balls or brains? Or do you just want to sit around and wait for another manager to sheet all over you?
Legstrong - You have obviously launched your own BD, right? Do you know
that you need dealer agreements with any money manager you want to
make available as a BD. Do you have any idea the compliance involved in
being a BD?
RIA idea much better. Wouldn’t do it with Schwab Institutional as their list of
funds is too limited and they take 3 weeks to return phonecalls. Bad
customer service. Here, test my theory and call –
http://www.schwabinstitutional.com/public/
Don’t think the likes of Scott Trade and E*trade are very conducive to
managing clients’ money.
Lance is right! I know some former Smith Barney guys who just packed up - took about $1 billion in AUM with them went to Schwab they just run ETF portfolios charing clients .75% - 1.00%. Allocation drive performance not managers! The clients seem to be doing great, the brokers are making more and charging less.
If starting your own BD isn't your thing, consider becoming an independent with Polar Investment Counsel, Inc. We are a full service broker dealer/advisory with payouts ranging from 85% to 95%. Clearing charges are: $16 equity / $10 + .75 cents options.
Check us out at www.icebear1.com
Recruiter Dork:
Do you really believe that anyone from AGE would even consider your firm? Please, go post on Monster or something you moron.
[quote=nyhavn17]
Recruiter Dork:
Do you really believe that anyone from AGE would even consider your firm? Please, go post on Monster or something you moron.
[/quote]When I was at AGE, I was chairman's council. I assume somone with your degree of professionalism and class is not
You went from being a Chairmans council producer to a recruiter on an
internet forum?
Please tell me how you did that so I can avoid doing the same thing.
Actually, no. I went from being an AGE chairman's council broker to being the CEO of this firm ( Polar Investment Counsel, Inc. ). Early this morning my internal "recruiter" got sick and tired of reading some of the unprofessional and crude responses here. So, I have taken over. I am not so thin skinned if you know what I mean. I have over 33 yrs of experience in this industry and with several other firms besides the six or so years at AGE. Perhaps my firm is not for you, however when somone with my experience is willing to speak with you for free, you really ought to listen.
Here’s some free advice: Your website sucks. Fire the person doing it, pony
up the dough, and get a professional site. I would never consider working
for a firm that has a website stuck in 1997.
Isn't it pretty foolish to spam a message board and then expect a professional response?
I can't imagine a CEO of any reputable firm posting the above message.
[quote=Recruit 4 PICI]
Actually, no. I went from being an AGE chairman's council broker to being the CEO of this firm ( Polar Investment Counsel, Inc. ).
So?
I'm President and Owner of my own firm, and I don't make a point of lording it over all on this board, nor do I expect these guys to listen to me because of that.
Maybe if you posted something worthwhile instead of "we have great payouts" and links to your piker polar bear website, you might get better feedback.
You think you're the first indy guy to get the bright idea to reach out and touch an AGE rep in the last two weeks? These guys are getting calls all over the place-like they need the added distraction.
I've had DOZENS of calls this week to move my book. Most offers are coming in over 1,000,000. Does Polar Investment Counsel offer money like this or should I get a raging boner for the great payouts you advertise and your $hitty little web site? If I wanted to work for a tiny firm with no name, I'd start my own.
Seriously, I'm expecting someone from candid camera to pop out and tell me this is a big joke.
[quote=Ferris Bueller]
I've had DOZENS of calls this week to move my book. Most offers are coming in over 1,000,000. Does Polar Investment Counsel offer money like this or should I get a raging boner for the great payouts you advertise and your $hitty little web site? If I wanted to work for a tiny firm with no name, I'd start my own.
Seriously, I'm expecting someone from candid camera to pop out and tell me this is a big joke.
[/quote]Hey Recruit - Thanks for ruining this post with your shameless and I might add goofy efforts to use this forumn for recruiting.