C Shares

“The work hour”–you’ve got it down so you only work an hour?



That is so kewl.

[quote=Cshareseller]I just dont get why anyone in their right mind would sell class A shares of mutual funds. It is ridiculous and wrong for the client. How many of you people switch A shares well before it makes sense for the client? You all justify it to yourself by saying that this changed and that changed...the fact remains that you do it just to get sales charges multiple times. How many of you will admit that you frequently go from 1 class A share into another family's class A share within a few years? I bet you that none of you will admit this but many of you do it. What a bunch of jokers. I feel like a fool even writing this during the work hour...what a waste of time. The funny think is that there are some of you who will write paragraph after paragraph about how great you are and how you do the right thing but you sit on a stupid message board all day. No wonder this is a forum for small producers with big mouths. [/quote

OK, Cshare, now tell us how you really feel.

Try this; You don't believe in anything other than "A" shares. So you put all, as in every one of, your client's into "C" shares. Problem is, "C" shares are not appropiate for all of your clients. The trail commission was never, as in not ever, intended to be an asset management fee. "C" shares were developed to answer the specific need of short term holding periods. The mutual fund Grand Pooba's recognized that there are those who do not wish to own a fund for four or five years, or longer. It is for these individuals, and that purpose, that "C"shares were created. Then, of course, we the FAs found a way to bend that to our needs and make "C" shares a one size fits all SMA surrogate. As unfortunate as this is for the long term buy and hold clients, it's more unfortunate for the FAs being hauled before the NASD to explain why they though every client needed "C" shares. For them, it is not a happy ending.

And you're right, we are a bunch of small producers. We like it that way!

[quote=BondGuy]

[quote=Cshareseller]I just dont get why anyone in their right mind would sell class A shares of mutual funds. It is ridiculous and wrong for the client. How many of you people switch A shares well before it makes sense for the client? You all justify it to yourself by saying that this changed and that changed...the fact remains that you do it just to get sales charges multiple times. How many of you will admit that you frequently go from 1 class A share into another family's class A share within a few years? I bet you that none of you will admit this but many of you do it. What a bunch of jokers. I feel like a fool even writing this during the work hour...what a waste of time. The funny think is that there are some of you who will write paragraph after paragraph about how great you are and how you do the right thing but you sit on a stupid message board all day. No wonder this is a forum for small producers with big mouths. [/quote

OK, Cshare, now tell us how you really feel.

Try this; You don't believe in anything other than "A" shares. So you put all, as in every one of, your client's into "C" shares. Problem is, "C" shares are not appropiate for all of your clients. The trail commission was never, as in not ever, intended to be an asset management fee. "C" shares were developed to answer the specific need of short term holding periods. The mutual fund Grand Pooba's recognized that there are those who do not wish to own a fund for four or five years, or longer. It is for these individuals, and that purpose, that "C"shares were created. Then, of course, we the FAs found a way to bend that to our needs and make "C" shares a one size fits all SMA surrogate. As unfortunate as this is for the long term buy and hold clients, it's more unfortunate for the FAs being hauled before the NASD to explain why they though every client needed "C" shares. For them, it is not a happy ending.

And you're right, we are a bunch of small producers. We like it that way!

[/quote]

Make that; You don't believe in anything other than "C" shares.

Small producer with fumble fingers

[quote=Cshareseller]I just dont get why anyone in their right mind would sell class A shares of mutual funds. It is ridiculous and wrong for the client. How many of you people switch A shares well before it makes sense for the client? You all justify it to yourself by saying that this changed and that changed...the fact remains that you do it just to get sales charges multiple times. How many of you will admit that you frequently go from 1 class A share into another family's class A share within a few years? I bet you that none of you will admit this but many of you do it. What a bunch of jokers. I feel like a fool even writing this during the work hour...what a waste of time. The funny think is that there are some of you who will write paragraph after paragraph about how great you are and how you do the right thing but you sit on a stupid message board all day. No wonder this is a forum for small producers with big mouths. [/quote]

Then why are you here if you are so awesome?

According to the rules C shares are appropriate when used in an asset allocation strategy, I do not know of a fund family that is good at everything. Do you?

[quote=bankrep1]According to the rules C shares are appropriate when used in an asset allocation strategy, I do not know of a fund family that is good at everything. Do you?[/quote]

Hoping for major rebalancing? That's the only way C shares wouldn't get the attention of the suits in compliance. At least, at my firm.

I like C shares too. When the new "C share Guidelines" were first issued by my firm I rolled my eyes. My thinking was, you guys make more money on either A shares or MF wrap accts, so how convenient! But, from my friends around the industry, I've learned that this is coming from the NASD.

It's too bad the NASD (and others) have decided that the only factor that matters is the hypothetical lowest cost over 10 yrs.  Whatever happened to freedom of choice and buyer responsibility.

Some folks prefer the lowest long term costs (A shares), some prefer flexibility (C shares), and some even prefer a surrender charge that gives them incentive to stay committed long term (B shares).

When we take away these options, its the investor that loses.  Now I can't sell C shares, so instead I put them in an advisory account and charge them 1% (and I keep the .25% 12b-1 fee as well).  Somehow that's better than a .75% C share because the charge isn't "hidden" and I have the obligation to review their account annually (I actually do give better service to my advisory clients because thats what they pay for, but thats a different topic).   

If the client doesn't want to pay an upfront commision or an advisory fee, then they go buy no loads (many of which charge about the same as many C shares) and make all the mistakes do it yourselfers are prone to. 

Professional service costs money, let the clients decide how they want to pay for it.

I'm a big advocate for C shares and utilize them frequently.  I think it gives the client excellent flexibility (1 year CDSC) and doesn't start them behind the proverbial 8 ball (down 5.75%).  Granted I try and use A-shares when it's over 500k and the time frame for investment is well over 5 years.  I only use B shares in either 529 plans or IRA's when the amount is under 25k and the time frame is 6 years or longer.

My firm was frowning upon the use of C shares for a period of time; I think they've backed off recently from strict enforcement.  I always inform the client of the annual fees and the 1 year CDSC for C shares.  And yes, the client not actually seeing the fee is beneficial to us advisors. 

[quote=BondGuy]

[quote=bankrep1]According to the rules C shares are appropriate when used in an asset allocation strategy, I do not know of a fund family that is good at everything. Do you?[/quote]

Hoping for major rebalancing? That’s the only way C shares wouldn’t get the attention of the suits in compliance. At least, at my firm.

I like C shares too. When the new “C share Guidelines” were first issued by my firm I rolled my eyes. My thinking was, you guys make more money on either A shares or MF wrap accts, so how convenient! But, from my friends around the industry, I’ve learned that this is coming from the NASD.

[quote=bankrep1] [quote=BondGuy]

[quote=bankrep1]According to the rules C shares are appropriate when used in an asset allocation strategy, I do not know of a fund family that is good at everything. Do you?[/quote]

Hoping for major rebalancing? That's the only way C shares wouldn't get the attention of the suits in compliance. At least, at my firm.

I like C shares too. When the new "C share Guidelines" were first issued by my firm I rolled my eyes. My thinking was, you guys make more money on either A shares or MF wrap accts, so how convenient! But, from my friends around the industry, I've learned that this is coming from the NASD.

[/quote]

What do you mean by major rebalancing?[/quote]

You're not serious, right?

I know what rebalancing is, I am asking what you meant by hoping for major rebalancing? What exactly were in the guidelines?

It is called "breakpoints" and "lowest expense ratio" idiot.

You have to find the right fit for each client, it may be an A for someone who intends to hold a fund for greater than 5 years.

It may be a C share for someone who wants more liquidity.

They pay us to figure that out.

vbrainy if you re-read what you wrote you’re not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.

[quote=bankrep1]vbrainy if you re-read what you wrote you're not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.

[/quote]

You don't have a firm.

[quote=bankrep1]vbrainy if you re-read what you wrote you're not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.

[/quote]

But obviuosly not how to write!!

ha ha you spelled obviouslywrong!

[quote=bankrep1]ha ha you spelled obviouslywrong![/quote]

Obvious and wrong are two different words and you should have a space between them.

[quote=Helter Skelter]

[quote=bankrep1]ha ha you spelled obviouslywrong![/quote]

Obvious and wrong are two different words and you should have a space between them.

[/quote]

Dissin someone on the internet is harder than it looks. Did I spell dissin right?

Bank, my post about hoping for rebalancing is grounded in the fact that C shares aren't meant to be held for more than a few years. Thus there should be a rebalancing, selling and buying, to justify the higher holding cost. Actually, a good argument could be made for owning C shares as part of an asset allocation strategy. Still, five or six years down the road if there hasn't been significant movement of funds within the account C shares will become increasingly more difficult to justify.

I'm on your side, I think it's a bunch of crap, but I don't make the rules. If your firm is soft on this, go with it.

Any misspellings in this post were intentional.

[quote=BondGuy][quote=Helter Skelter]

[quote=bankrep1]ha ha you spelled obviouslywrong![/quote]

Obvious and wrong are two different words and you should have a space between them.

[/quote]

Dissin someone on the internet is harder than it looks. Did I spell dissin right?

[/quote]

It should be dissin'

[quote=Helter Skelter]

[quote=bankrep1]ha ha you spelled obviouslywrong![/quote]

Obvious and wrong are two different words and you should have a space between them.

[/quote]

The words are obviously and wrong.  Bankrep1 also did not capitalize 'ha'.  Somebody get it right please......geez.

Gotcha my firm has similar guidelines although when used in an asset allocation strategy it is OK we have to fill out a ton of extra paperwork though documenting the fee’s vs. A shares, I still do it

If you're using an asset allocation model, why not just use ETFs and sidestep the whole A-B-C issue altogether?

Starka, my firm’s fee based accounts are somewhat limited, MF models and SMA’s over 500K. I would love to have an open platform fee based advisory account, we don’t though and I am not leaving to have access to one.

Bank, I find that even with brokerage accounts ETFs and UITs work pretty well within an allocation framework. 

In point of fact, I use open end mutual funds very sparingly, mostly when I need a specialty fund.  As has been pointed out earlier, with the A share, the client is behind the 5.75% eight ball from the outset, and then fees are piled on.  I REALLY object to mutual funds in advisory accounts, as there are added levels of fees, whether the client sees them or not.  A case can be made for using them, and I respect that, but it just seems like overkill to me.

Oh, and one other thing....if you're happy at the bank, I'm glad for you.  There's room for us all.

[quote=bankrep1]vbrainy if you re-read what you wrote you're not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.

[/quote]

Actually, my comments were directed at the person who started the post.  That person is an idiot.

You seem ok . . .don't know

I am very impressed by your degrees

Let's give the guy with two degrees some help.

bankrep1 wrote:

Where's the Grammar Police when you need 'em?

(All in good fun of course, I'm no NASDy Newbie)

I have know degrees.  I no how to read two.

Dude, I thought since you were a self proclaimed piker you had to retire from the message baords and try to find some clients. Addicted?

I now have prospects calling me and plenty of leads to keep me happy these days. 

Plus I'm not too sure what a baord is.

I'm still in the biz of selling financial products (I'm going to have an $80,000 plus month at around 35% payout btw) and doing much better than at either of the wirehouses or bank that I have worked at.  I think I'm doin' O.K. how's your month?

I may be addicted (O.K. and a piker too) but I think there's still an opportunity for me to learn and to help others around here.  Would you agree?

Plus, y'all are such sweethearts, I'd miss all the uplifting dialogue.

35% at 80K man you’re getting raped!

[quote=dude]

I now have prospects calling me and plenty of leads to keep me happy these days. 

Plus I'm not too sure what a baord is.

I'm still in the biz of selling financial products (I'm going to have an $80,000 plus month at around 35% payout btw) and doing much better than at either of the wirehouses or bank that I have worked at.  I think I'm doin' O.K. how's your month?

I may be addicted (O.K. and a piker too) but I think there's still an opportunity for me to learn and to help others around here.  Would you agree?

Plus, y'all are such sweethearts, I'd miss all the uplifting dialogue.

[/quote]

That'll be a nice month, dude. I'm sorry that you won't get to keep most of it, but I admire the fact that you set a goal and are determined to make it happen. That helps a lot. I'm pulling for you.

I've decided to put $1,000,000 into an NG deal that we have that pays 8% with a 100% payout. It's an easy sell and if I work at a moderate pace, I could be done in the first 2 or 3 weeks.

[quote=dude]

I now have prospects calling me and plenty of leads to keep me happy these days. 

Plus I'm not too sure what a baord is.

I'm still in the biz of selling financial products (I'm going to have an $80,000 plus month at around 35% payout btw) and doing much better than at either of the wirehouses or bank that I have worked at.  I think I'm doin' O.K. how's your month?

I may be addicted (O.K. and a piker too) but I think there's still an opportunity for me to learn and to help others around here.  Would you agree?

Plus, y'all are such sweethearts, I'd miss all the uplifting dialogue.

[/quote]

Where are you at now?  Not the exact name, too many weirdos here.  Just what type of firm?

I work at a firm that gets a lot of call ins because of an exceptional marketing process.  We are leaders in our particular 'niche' which focuses on fixed annuities marketed to people who are looking specifically for fixed annuities (in addition to SPIA's etc...). 

I can also sell life insurance so I am using the opportunity to give advice to many people who are interested in passing assets on to their heirs in the most tax efficient, cost effective way. 

Yeah, it sucks that I only get 35%, but I have neither the capital or competitive position to pull in this kind of volume.  Plus I'm hoping that in a couple years I can branch off my efforts here to expand back into a more traditional 'advisor' role.....although I have to admit that having a product focus and specializing is a hell of a lot more productive than being a generalist like I was.  I think I will specialize in some aspect of asset managment...maybe working with convertibles and/or some unique investment process.  I also think I'll start working on my CFA within the year.

I am in a good position because all I have to do is focus  on profiling the prospects (for suitability of course), educating and closing sales.  I believe this will help me hone my pitch and develop a better sales aptitude.  It's also nice that everybody I talk with during the day is an interested (most are also qualified too) prospect.

That being said....I might only do business with one to two folks for every 10 to 15 I speak with since some are not suitable for the product or just wanted to learn a little more etc....

Now before I get the vultures swirling about being an 'annuity salesman', I will say that I am very dilligent in turning away folks who are not a good fit for an annuity.  Plus annuities, like all invesmtents have their appropriate place.  I'm not here to get into a debate about annuities.

Also the $80,000 month is a large month, but I'm planning on doing some marketing that piggybacks off of the existing system to try and make that a common month. 

[quote=bankrep1]35% at 80K man you're getting raped! [/quote]

Yeah, what the hell can you say about it.....aren't you at a bank?

I hope you don't need me to make you aware of how stupid it sounds to criticize someone for something that describes your exact situation.

I will point out that I worked at a bank and I get higher quality referrals (in greater abundance) at my current employer than I ever got at a bank.

Did you do $80,000 this month?  I'll probably do another $30,000 or more next month too.  This is after a relatively short time working here. 

[quote=Helter Skelter][quote=dude]

I now have prospects calling me and plenty of leads to keep me happy these days. 

Plus I'm not too sure what a baord is.

I'm still in the biz of selling financial products (I'm going to have an $80,000 plus month at around 35% payout btw) and doing much better than at either of the wirehouses or bank that I have worked at.  I think I'm doin' O.K. how's your month?

I may be addicted (O.K. and a piker too) but I think there's still an opportunity for me to learn and to help others around here.  Would you agree?

Plus, y'all are such sweethearts, I'd miss all the uplifting dialogue.

[/quote]

That'll be a nice month, dude. I'm sorry that you won't get to keep most of it, but I admire the fact that you set a goal and are determined to make it happen. That helps a lot. I'm pulling for you.

I've decided to put $1,000,000 into an NG deal that we have that pays 8% with a 100% payout. It's an easy sell and if I work at a moderate pace, I could be done in the first 2 or 3 weeks.

[/quote]

I'm not familiar with 'NG' deals.  What's it stand for?

Dude, I am not at a bank, haven’t been in years although I hear they are a decent place to work if it’s a small community oriented business focused type of bank. I work in a niche market (guess?), and I would not work for 35% unless I did 0 prospecting. No I didn’t do 80K this month, but neither did you. Didn’t you just start there like a month ago? Are you sure you didn’t add a zero and do really 8K this month?



I am sorry to hear you got crappy referrals problem was self inflicted, did you tell them what to look for? and told them not to send you crap because that is not what or who you help.

[quote=dude][quote=Helter Skelter][quote=dude]

I now have prospects calling me and plenty of leads to keep me happy these days. 

Plus I'm not too sure what a baord is.

I'm still in the biz of selling financial products (I'm going to have an $80,000 plus month at around 35% payout btw) and doing much better than at either of the wirehouses or bank that I have worked at.  I think I'm doin' O.K. how's your month?

I may be addicted (O.K. and a piker too) but I think there's still an opportunity for me to learn and to help others around here.  Would you agree?

Plus, y'all are such sweethearts, I'd miss all the uplifting dialogue.

[/quote]

That'll be a nice month, dude. I'm sorry that you won't get to keep most of it, but I admire the fact that you set a goal and are determined to make it happen. That helps a lot. I'm pulling for you.

I've decided to put $1,000,000 into an NG deal that we have that pays 8% with a 100% payout. It's an easy sell and if I work at a moderate pace, I could be done in the first 2 or 3 weeks.

[/quote]

I'm not familiar with 'NG' deals.  What's it stand for?

[/quote]

Natural Gas.

If the subject is Natural Gas, Putsy (or whatever his latest incarnation is) would be the gasbag to speak with.

[quote=bankrep1]Dude, I am not at a bank, haven't been in years although I hear they are a decent place to work if it's a small community oriented business focused type of bank. I work in a niche market (guess?), and I would not work for 35% unless I did 0 prospecting. No I didn't do 80K this month, but neither did you. Didn't you just start there like a month ago? Are you sure you didn't add a zero and do really 8K this month?

I am sorry to hear you got crappy referrals problem was self inflicted, did you tell them what to look for? and told them not to send you crap because that is not what or who you help. [/quote]

I never wrote I had a crappy referral problem....maybe you need to go back for a third degree to get the reading comprehension down?

In fact, I said that the quality of my current referrals are better than the quality at the bank.  I get people who know what they want already (mostly) and have expressed a definite interest in my knowledge and product.  My time is spent educating and exploring wheter the product is a good fit or not. 

I've already done $61,000 of my $80,000.....as long as the client doesn't excercise his 'free look' then I'm in like flynn. 

I can understand how you would have a hard time confusing $80,000 for $8,000 since you have clearly demonstrated your inability to read.

So if you're not at a bank, where do you work (if you say 'credit union'....whatever man)?

Anyway, I will trade $80,000 at 35% over $40,000 @ 70% (closer to real payout at an indy when considering overhead.....albiet a little high) for the great hours I work (40 a week), ability to be with my family more (I have two kids under age 6) and extremely low stress environment. 

One absolutely has to consider quality of life when choosing a path to follow.....right now being a good dad, present for my little girls at a time when they need me around trumps any ego centric need to be a 'big swinging d*ck' or prove myself by 'building it myself' and getting 100% payout (or whatever).  I respect greatly those who have and will listen to their advice, awaiting to apply it when the time is right for my family.

If I were to look at the world in the jaded way you seem to I'd say that brokers working 70 hours a week doing $40,000 a month at 70% payout are getting raped relative to me.  I get paid the same for working 40% less hours with probably 80% less stress (compared to my wirehouse days).  That extra energy goes where it belongs most...with my children.

I'm sorry that you have such a narrow perpective and narrow mind bankrep1.

[quote=dude]

I work at a firm that gets a lot of call ins because of an exceptional marketing process.  We are leaders in our particular 'niche' which focuses on fixed annuities marketed to people who are looking specifically for fixed annuities (in addition to SPIA's etc...). 

I can also sell life insurance so I am using the opportunity to give advice to many people who are interested in passing assets on to their heirs in the most tax efficient, cost effective way. 

Yeah, it sucks that I only get 35%, but I have neither the capital or competitive position to pull in this kind of volume.  Plus I'm hoping that in a couple years I can branch off my efforts here to expand back into a more traditional 'advisor' role.....although I have to admit that having a product focus and specializing is a hell of a lot more productive than being a generalist like I was.  I think I will specialize in some aspect of asset managment...maybe working with convertibles and/or some unique investment process.  I also think I'll start working on my CFA within the year.

I am in a good position because all I have to do is focus  on profiling the prospects (for suitability of course), educating and closing sales.  I believe this will help me hone my pitch and develop a better sales aptitude.  It's also nice that everybody I talk with during the day is an interested (most are also qualified too) prospect.

That being said....I might only do business with one to two folks for every 10 to 15 I speak with since some are not suitable for the product or just wanted to learn a little more etc....

Now before I get the vultures swirling about being an 'annuity salesman', I will say that I am very dilligent in turning away folks who are not a good fit for an annuity.  Plus annuities, like all invesmtents have their appropriate place.  I'm not here to get into a debate about annuities.

Also the $80,000 month is a large month, but I'm planning on doing some marketing that piggybacks off of the existing system to try and make that a common month. 

[/quote]

Dude, do I have this right, you've produced $80,000 this month and you're going to take home 35% of that? If that's right then your income for this month is in the region of $28,000? That would be $28,000 for one month's work? And there are people here taking you to task for that? I don't get it. 28 grand is a lot of money.

How long have you been doing this? And what do you see as an average month going forward?

I've been here a Couple months. 

Average month over the next year I'd expect to be between $15k to $20k with bigger months sporadically.  This is assuming that I rely on the house leads.  We just had a lady in our office that grossed (income) $109,000 as of September working about 30 hours a week.  She's been here about 3 years and has relied entirely on the company leads.

Right now I am not prospecting, but am thinking about ways to build off our platform and do some additional marketing.  Currently I have quite a bit of free time to allocate towards marketing but am not exactly sure how to do it...yet.

Oh...and yes you have the figures correct.  I'll probably land between $80k and $90k this month, although it is an unusually large month.  So far $61,000 has hit my commission blotter.

[quote=dude]

Oh...and yes you have the figures correct.  I'll probably land between $80k and $90k this month, although it is an unusually large month.  So far $61,000 has hit my commission blotter.

[/quote]

Great job dude.  

Thanks Mike.....I'm quite blown away to be honest.  It feels good to start making a nice income while lowering stress and increasing quality of life.

None the less, I do miss stockbrokering.

I did 80K this month, yes I mean 61, but normally I’ll do 15K. That is like saying I am a clerk but one month out of the year they let me be CEO, c’mon.

Oh yeah if you taught your bank platform that you only deal with people who have over 100K or 200K properly how woul dyou ever get crap leads…answer: you wouldn’t

Congrats on your month, dude. It’s good to hear you’re doing well with

your new firm.

[quote=bankrep1]I did 80K this month, yes I mean 61, but normally I'll do 15K. That is like saying I am a clerk but one month out of the year they let me be CEO, c'mon. [/quote]

You must have low self esteem issues bro, it seems like you really get your energy from sh*tting on others......are you becoming the new Forum Troll?

I have never claimed to be a rock star.  I merely mentioned my production to illustrate that there can be life after a wirehouse or 'failing' out of the business.  You were the one with the jaded attitude.  It will be over $80k because one sale is still in it's 'free look' period, which expires in a couple days.  Then I get credited.

You really can't read, can you?  I mean, I expained this in clear terms above that I'm using other's averages and that I'm going to market and build off an already excellent platform.  I'm doing that kind of production just focusing on annuities and in house leads....I've already started to 'upsell' prospects on setting up permanent life insurance to take care of estate transfer etc......right now I'm working on almost $5 million in death benefit on some UL policies.  These activities, I believe will help me exceed those numbers I posted. 

[quote=bankrep1]Oh yeah if you taught your bank platform that you only deal with people who have over 100K or 200K properly how woul dyou ever get crap leads.....answer: you wouldn't[/quote]

Try Hooked On Phonics bankrep1......I'd try to get your money back on those two degrees. 

[quote=bankrep1]vbrainy if you re-read what you wrote you're not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.[/quote]

Let's give the guy a little refresher.....

[quote=dude]

I never wrote I had a crappy referral problem....maybe you need to go back for a third degree to get the reading comprehension down?

[/quote]

[quote=dude]

I've been here a Couple months. 

Average month over the next year I'd expect to be between $15k to $20k with bigger months sporadically.  This is assuming that I rely on the house leads.  We just had a lady in our office that grossed (income) $109,000 as of September working about 30 hours a week.  She's been here about 3 years and has relied entirely on the company leads.

Right now I am not prospecting, but am thinking about ways to build off our platform and do some additional marketing.  Currently I have quite a bit of free time to allocate towards marketing but am not exactly sure how to do it...yet.

[/quote]

Where is here.  Sounds pretty good to have leads generated for you.  Is it an insurance company>?

Here is a small, fixed annuity focused insurance broker that has a pretty robust marketing platform.  We do business with both the public as well as contracting other agents who would like to access our companies (we represent well over 50 carriers).

Yeah, it's pretty nice to be calling on warm leads for a change.  It's also nice to never have to explain to clients why their portfolio is down or fluctuating etc.....Although I miss advising, I still find ways to build off of the annuity inquiry and provide value added advice. 

In a handful of circumstances I have helped guide folks in finding a primary advisor. 

That is after I've invested every last penny they have into a 15 year, 20% surrender, high upfront bonus annuity of course......

Oh, that pays me 10% too!!!

Just kidding of course (unless it's suitable ).

[quote=dude]Oh, that pays me 10% too!!![/quote]

You only get 10 points on a 15 year product?

dude, honestly I don’t think that is very funny.  Many new people read this site and they might actually think that it is OK to steer your clients into one product over the other for the commission you receive.  Versus what is best for the client.

OK vbrainy.

disclaimer:

Buyer beware...my posts are often served with a hearty helping of sarcasm. 

Signed: dude

C shares are a rip, and you guys know it.

Everyone uses them though.

I’m finally a senior member.

[quote=Cshareseller]I just dont get why anyone in their right mind would sell class A shares of mutual funds. It is ridiculous and wrong for the client. How many of you people switch A shares well before it makes sense for the client? You all justify it to yourself by saying that this changed and that changed...the fact remains that you do it just to get sales charges multiple times. How many of you will admit that you frequently go from 1 class A share into another family's class A share within a few years? I bet you that none of you will admit this but many of you do it. What a bunch of jokers. I feel like a fool even writing this during the work hour...what a waste of time. The funny think is that there are some of you who will write paragraph after paragraph about how great you are and how you do the right thing but you sit on a stupid message board all day. No wonder this is a forum for small producers with big mouths. [/quote]

You did get one thing right.  It is proper for you to feel like a fool.