Just curious to know what kind of numbers the biggest producer put up each year from different firmS. I know we have a former wachovia guy now with wells doing about 5 mil down in Florida. Not talking about teams but solo practitioners
Martin Shafiroff(leader for 10yrs+, not sure if he still is), but Ira Walker was up there too.. Maybe Mark Hutchinson..
I don't think $5Mil would qualify, I think there are some people at RJ doing $3MM+, and my guess is that the biggest producer is at a wirehouse/Barclays(Shafiroff)
Most these guys do now, they have to because of asset size....Martin Shafiroff had $10 billion in 2002.
What counts as a "producer" in this OP? What kinda set up are you talking about? 7/66 and a phone? or anyone that calls themself a producer?
I like this topic. Producers are not teams. Producers share assistants. After that you are a branch.
At ML for years. I know there are a "handfull" of individuals or small teams in the industry who can claim doing 5-10m +. Lot of 3-4 mil gross guys.
Who cares what others are doing? I'm mostly concerned about how I am doing. Heck, I'm happy if I wake up alive in the morning!
"Top Producer" titles can be misleading. We have a few huge indy firms near me, and they are consistently ranked in the top 10-15 in those "Top Indy Producer" rankings, with the name of the Owner/President as the "Producer". However, one of the firms has like 25 people, and the other has over 40. So not sure how you can really compare production at those firms to some guy working solo with an assistant. In fact, there are a lot of guys working solo (indy, wire, regional, etc.) that put more in their pockets because they don't have as many people to pay and there is less overhead drag.
IMHO, you can't really compare production much anymore. Even the guys you see ranked as the top wirehouse producers have huge teams. Let's face it, a guy with $1B under management has a huge team.
On top of that, if your focus is endowments and pension plans over $25mm, well, how does that even relate to some guy that focuses on 401K rollovers? They're like two different businesses.
Shafiroff is still at LEH but it is now Barcalays, last I heard he does like 60 million. there are only 250 advisors at Barcalays. I am surprised there are still guys that do 5 mill plus and do not go Indy. I am surprised that guys like Thain, and Sontag and others that got screwed by BAC do not set up there own firm and recruit the crap out of every huge prdocucer. Eventually there will be a new company, new brand that competes with the big dogs.