Retired at 45 making 225k gross for the last 20 years. Keep smoking the weed. things always look better. BTW 225 after 20 years is pitiful no matter what your business model is. Retired at 45 bullsh*t!

I did'nt realize someone was holding a gun to RickMWD's head to read posts. Actually you sound like an idiot. Please tell me how in god's green earth....managed money is like churning. You guys in the business twenty years ago making 8% on mutual funds, selling bonds with 5 points in them, Strategizing stock business to earn hundreds of thousands in commissions on a book of 10 million, have no f*** 'n room to criticize new people in the business killing themselves to get  a lousy 1% fee, who are trying to grow an ethical business. Oh by the way... thank you for muddying up the water for the next generation.

I hope there is plenty of room in that trailer park retirement community for some of your other loser Morgan hacks!! Cheers. I thought you had to be 55 to get into those communities.

I have to call BS. There's no way you can do less than $225k on 62 million unless you're sleeping at your desk.  Sorry you got kicked, but that's just unbelievable. You don’t have to churn to do better than that, you just have to show up. Also, 225k at MS is $72k in gross pay, not much if you really are working.

211k off of a 60 mill book? Why on god's green earth did your BOM allow you to remain at your desk for the last 10yrs?

Now we know why the average MS brokers production is so much less than that of ML or SB. You would never be allowed to have those weak numbers off of a book that size at any other wirehouse. They would have given you an option of teaming up with an experienced hungry broker or shown you the door years ago. 

Honestly...I would have a field day in your old book, like shooting fish in a barrel. I gotta go, I'm having a wet dream just thinking about it.

Churning, churning, churning.....move 'em around....raaaawhide.  Ooops. Wrong channel.   

You do have a point, however.   That is a really low return on assets under management.

How are you retired rickmwd??? You haven’t made any money yet. Either the wife works, or mom and dad are supporting you. If not…I hope you like cat food.

If any MWD broker is looking for a place to build your book, career and is located in the Pasadena, CA. area, I am interested. Payout raise, benefits, full service with independent attributes. Please respond/replay to this post.

[quote=rickmwd]

Last year I did 211k.  62 million under management.  Spotless U-4. Mostly bonds and long term stock holdings. I have never been in the penalty box. I was 80% transactional business.  Taxfree, CMO's and Treas....MS cut the commisions and we are at a 40 year low in rates.  Did it cause me to fall below $225k?  Yes, last year.  Did they give warning? Maybe to the guys below 200k.   BTW I was a "Sears Broker" and liked it.

Sorry to offen so many using the "churn" word.  The new term for that is managed money, wrap accounts, etc.  Please don't bother to respond to my post. I will not read them. Like I said I am retired at 45.  Reading these posts take me away from things I'd perfer to do and piss me off. Not much can be done now anyway.  I'll have a margarita and think of how lucky I am.  If you are unable too to the same, then try. 

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80% Transactional!  Where have you been the last 5 years?  No wonder you're not producing.  I don't know about your market, but if I had to bang around stocks and bonds, I would be out of the business. 

I'm highly offended that you think Managed Money is churning.  Do you honestly think you can pick an chose securities and perform better than a group of P.H.D's who watch their asset class, and only their asset class constantly? I love it because the clients get what they want.... results.  And if they don't get results, the money manager is the one that the client fires, not me.

As for Mutual Fund Wrap, you get a the ability to rebalance and choose the best fund in each category.  You don't have to worry about breakpoints or sales loads or CDSC.  You don't have to keep all your money in one or two fund families, you have total flexibilty.  How is that wrong?

Managed Money allows you to be a consulant, not a product pusher and is going to help keep clients from getting blown up, if the process is executed properly.