Deals at Regional Firms
What would a deal from a regional firm look like now for T-12 of $340k with $47mm in assets?
I'm curious to see what I should expect, especially from someone like Stifel or RBS.
Thanks in advance.
I've heard something like 40% upfront for at least a 7 year contract, but then your payout is still only 37% and you risk the regional turning into a wirehouse.
Forget the fools gold, go Indy where you can control your own destiny. This whole industry is getting more screwed up by the day.
I agree. I was w/ Pru Sec and Smith Barney for 11 years until recently. This has been the best decision I ever made. I think most of you wirehouse guys will be surprised to see how eager your clients will be to leave with you, especially when you tell them that their money market account won't be tiered and they won't be raped on IRA custodial and other basic account fees. Let's be honest here, the wirehouse firms add absolutely no value anymore. The technology and platforms at the Independents are actually better and you don't have to wait around wondering what the home office is going to do to your comp plan each year. I know the argument is going to be Madoff this and Standford that, but if their relationship is with you, they will stay with you. I'll also tell you, that personally, I've been more juiced about prospecting b/c at the end of the day, I'm netting almost twice what I was at a wirehouse. Come on guys, toughen up.
I'm at a regional BD-on the independent side-and we have been able to offer very competitive transition packages. This is true for both channels of the firm. We are privately held and self clearing so it's a really great set up. If anyone would like any information about my firm you send me a PM.