Business Predictions for 09

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Dec 29, 2008 8:50 am

It's time for the rest of us who aren't looking for retention bonuses to finish planning for next year. Question of the day....

 
Where do you see your business going in 09? We had a good year at our indy shop (up 47.5%). Number looks great , but when I break it down I am not sure I can compare 08 as the benchmark year since I went indy in Sept of 06. Now if we can replicate 08 next year, all will be good.
 
My goal in 09 is 500K gross maintaining 70% net profit. Recurring revenue will be flat (which I feel is pretty good since fees are down 30%) but annuities are up with trailers to offset. My current book is 33% fees, 22% annuities, 10% non-traded REITS, 25% mfds, 10% brokerage.
 
One revelation that I feel is necessary, is NOT to have all assets in fee based programs. I realize I sacrafice some value of the biz, but this past year humbled some of us and diversification of the book seems appropriate. Having said that...LPL has a new program coming out with DFA funds with an income guarantee. Always something new to deal with.
Dec 31, 2008 1:25 pm

It maybe a great year to be INDY and pick up some nice accounts from the wires. The team I share an office with just picked up a 300 million account from ML this high net worth client has had enough of ML. 

This is a nice account in any book!
Jan 2, 2009 10:02 am
Greenbacks:

It maybe a great year to be INDY and pick up some nice accounts from the wires. The team I share an office with just picked up a 300 million account from ML this high net worth client has had enough of ML. 

This is a nice account in any book!
 
Mr. Obvious (see last line in post), Congrats on the account!
Jan 2, 2009 10:28 am

That is a book in some books.