Where to go when you're not the cream?

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Jan 12, 2009 5:50 pm

Other than an arguement to go independent.. For those who are not the cream of the crop at their prospective wirehouses, and are seeing their already chopped payout dwindle more, i would consider Waddell & Reed.  They have a new open archectecture platform that for the experienced but not gargantuan sized practice or team, the payout will absolutely destroy that of the wirehouse, and with easily the same amount of products available, better support, and the benefits of being a 1099 for tax reasons.

 
So if you're in the 150-500k range, and sick of you're 30-45% payout, i would consider that you're not getting paid what you're worth, and the days of the brand carrying you are over.
 
Anyone wanting information, i have been with the firm 6+years, and have a 250+k production practice..
 
Good luck
Jan 12, 2009 6:25 pm

You couldn't pay me to go there...sorry..

Jan 12, 2009 7:16 pm

WDR is the biggest chop shop in the business. They were AGE research departments largest client. Their funds have BLOWN up over the past year, some down 60+.....stay away

Jan 12, 2009 7:41 pm

What about Chatfield Dean?

Jan 12, 2009 8:24 pm

Hibbard Brown?

Jan 12, 2009 8:35 pm

Burnham Andrun

Jan 12, 2009 9:04 pm

Pee Pee & Pooh Pooh

Jan 12, 2009 9:26 pm

Boyd, Dewey, Chernham & Howe

Jan 12, 2009 9:43 pm

I've never heard of most of these firms.  What strip malls are they located in and around?

Jan 12, 2009 10:37 pm

LOL!!

Jan 12, 2009 10:44 pm

how about cheech and chong.  i heard they are picking up a lot of business these days.

Jan 13, 2009 10:15 am

I worked at Waddell & Reed

&

Hibbard Brown.   


Waddell & Reed was a part time job during my junior year in college and it got me started on some licensing.  Hibbard and Brown was a summer job I took between my Junior and Senior year (for some reason they were under the impression I had graduated!).  This allowed me to get my Series 7 while still in college. 

Jan 13, 2009 10:27 am

I work at a clean shop called Sandgrain Securities. We offer high payouts and as a minority owned firm are selling group members for a variety of NYS California and Ohio muni offerings. You can work from yoir own office start your own or work from one of ours in Garden City, NYC or Boca Raton Florida. Call me at 516 750 7859. Peter

Jan 13, 2009 11:06 am
pdgnyr:

I work at a clean shop called Sandgrain Securities. We offer high payouts and as a minority owned firm are selling group members for a variety of NYS California and Ohio muni offerings. You can work from yoir own office start your own or work from one of ours in Garden City, NYC or Boca Raton Florida. Call me at 516 750 7859. Peter




I'm sorry that you can't compete without an unearned advantage.

Jan 13, 2009 12:02 pm

If you're not the cream, are you at least the twinkie?

Jan 13, 2009 12:08 pm

hahahahaha, wait, hahahahaha . . .

Jan 13, 2009 9:11 pm

well if you loaded up on natural resources and didn't follow an asset allocation you blew it up not the fund.. take a look a the lipper sector for nat. res funds.. its right in line.

 
God love people who generalize.
 
lucky you're not my advisor
 
skgalpha
Jan 13, 2009 9:24 pm

Waddell & Reed is to Finanacial Advising as Carrot Top is to Sun Tans.

Jan 13, 2009 10:05 pm

Can they even sell stocks there?

Jan 13, 2009 10:07 pm

Ya go to EDJ....