Big Time Production?

Sep 2, 2006 2:45 am

I have kind of a remedial question for everyone.  I am only a rookie so you are going to have to bear with me.   

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

How much production is everyone doing, on average per month?   I am trying to get an idea of where the brokers in my office rank.  These guys are considered to be big producers in my area.    

Sep 2, 2006 3:53 am

Eleventy kabillion!

Sep 2, 2006 11:56 am

Doing what is best for you is the right amount of production.  I
would say the minimum for being a player is maintaining at least 100K
per month.

Sep 2, 2006 12:23 pm

The question was what is being produced by those who post on this forum.

So far we have Joe with his trademark "Eleventy kabillion" which indicates that he's doing about $12,000, if that.

Remember the statements that LPL is great because their business model allows them to make a profit on producers who do $125,000?

Only somebody who is doing $125,000 would even think like that.

And then Rightway chimes in with some nebulous $100 grand per month to be a "player," whatever that is supposed to mean.

The only thing that is 100% certain is that nobody who wastes their time on this forum is a big hitter and if you ever see numbers, figure that they're three to four times reality.

For example, in my last year I did $1,500,000.  Now, your challenge is to figure out what I really did in my last year.  Remember, I was in the upper 5% of the nation at a major wirehouse.

Sep 2, 2006 12:57 pm

Did you have institutional money or just individual investors? What kind of work did you do? Where did the largest revenue come from?

Sep 2, 2006 1:07 pm

[quote=NASD Newbie]

The question was what is being produced by those who post on this forum.

So far we have Joe with his trademark "Eleventy kabillion" which indicates that he's doing about $12,000, if that.

Remember the statements that LPL is great because their business model allows them to make a profit on producers who do $125,000?

Only somebody who is doing $125,000 would even think like that.

And then Rightway chimes in with some nebulous $100 grand per month to be a "player," whatever that is supposed to mean.

The only thing that is 100% certain is that nobody who wastes their time on this forum is a big hitter and if you ever see numbers, figure that they're three to four times reality.

For example, in my last year I did $1,500,000.  Now, your challenge is to figure out what I really did in my last year.  Remember, I was in the upper 5% of the nation at a major wirehouse.

[/quote]

$92,500?

Sep 2, 2006 1:38 pm

[quote=peanutbroker]Did you have institutional money or just individual investors? What kind of work did you do? Where did the largest revenue come from?[/quote]

I was a retail broker with two small life insurance companies that periodically bought twenty to fifty thousand shares of preferreds--and at the end of the year genrated about $25,000 in gross as they did their tax trading.

As with most transaction oriented brokers 90% of my business came from 10% of my book.  I only had about 700 accounts who had done business with me--a great many of them had been call-in type clients who wanted to do a trade or two--mostly liquidating shares they had gotten somehow.

I had about a dozen VERY active traders--which I defined as being a client who traded at least once a day.  I had another twenty or so who would trade several times a week, but not necessarily every day.  And about 200 who were fully margined covered call writers--which meant that they would pay gross commission that approached 75% or so of their equity.

It's a shame that that type of business is no longer done--it really was fun and always interesting.

I can't imagine how boring it must be to do nothing but gather assets to be turned over to somebody else for the thinking part.

Sep 2, 2006 1:41 pm

I can’t imagine a grown man with a fetish for dogs and old, fat women.

Sep 2, 2006 2:13 pm

And to think the people who read what we have to say believe that Knucklehead’s point of view is not worth reading.

Sep 2, 2006 2:24 pm

NEWBIE,



Before you said you worked for two large national wirehouses and now you say two small insurance companies, can you explain that?

Sep 2, 2006 2:27 pm

[quote=bankrep1]NEWBIE,

Before you said you worked for two large national wirehouses and now you say two small insurance companies, can you explain that? [/quote]

Missing commas.

Sep 2, 2006 11:57 pm

[quote=NASD Newbie]

The question was what is being produced by those who post on this forum.

And then Rightway chimes in with some nebulous $100 grand per month to be a "player," whatever that is supposed to mean.

The only thing that is 100% certain is that nobody who wastes their time on this forum is a big hitter and if you ever see numbers, figure that they're three to four times reality.

[/quote]

I was refferencng the part of the question about how the big producers in the office stack up.  I guess I should have not used "player".  Averaging $100k per month consistantly is what many advisors that exceed the "$1 million" mark view as a main goal...as it means they can remain above the million mark.  That is where I got the number from.

Many advisors in this space don't just turn the money over, but rather run the money in discretionary advisory platforms for more efficient trade execution and efficiency. 

This forum has many newer reps, which is natural.  This does not, however, mean that more seasoned advisors don't enjoy spending some time (which they tpically have more of) out here in hopes to assist and perhaps make the profession a little better in some small way.

Just my view.  Now go ahead and exercise your useless sarcasm.
Sep 3, 2006 1:58 am

[quote=NASD Newbie]The only thing that is 100% certain is that nobody who wastes their time on this forum is a big hitter and if you ever see numbers, figure that they’re three to four times reality.

For example, in my last year I did $1,500,000.  Now, your challenge is to figure out what I really did in my last year.  Remember, I was in the upper 5% of the nation at a major wirehouse.[/quote]

I'm guessing that you inflated your number on a factor of 10, giving you annual production of $150,000, which would have been pretty good in the 70's...

I'll be honest and not fudge my numbers and tell you that for the first eight months, I've produced exactly $124,944.69, making my average month $15.6K.  Keep in mind that this represents months 6-13 as an independent starting from zero.  Also remember that it includes the summer months.  Am I satisfied with that level? Not yet.  Am I making a comfortable living when I'm taking 10K/month home and enjoying the tax advantages of operating my corporation? I think so.  My September pipeline is literally over $50,000, so I'm confident that my average will be going considerably higher.

I'll be satisfied at about 30K/month, which I should hit next year.  Some won't like to hear that, and a wirehouse probably wouldn't be all that thrilled with it, but I would take home at least 250K/year at that level.  That's why I am where I am.  I have no grand ambition to take home 500K/year...I'd be well satisfied with half of that.  I couldn't care less if anyone thinks that's small stuff, or that I'm "lazy" or a "loser".  I have a $500 house payment and own four vehicles without any car payments attached.  I don't have any desire to retire early.  I'm happy now and I only see things getting better.

The reality is, I'm making more money on half the production,and more importantly, I was able to rid myself of people like...well...you know who...

Sep 3, 2006 2:55 am

After I hit the $150,000 in income mark, it stopped being about the money and started being about having fun and being happy.

Sep 4, 2006 9:44 pm

I second what indyone said!

I am at $224,000 as of the end of August and I am very content with that. If I was at a wire house they would not be content with it! And they would make my life misserable along with my clients.

Sep 5, 2006 4:29 pm

I think it's great to look at the top producers and think of yourself hitting numbers like that.  Unfortunatly the only numbers you need to focus on are the firm's and your family's.  What lets you keep your position with your firm and what keeps a sufficient amount of food on the table.  If you can't do those numbers, then you can't keep playing the game.  One of both of them will force you to stop.  Then you get to wonder about how much the guy at MCDs makes vs. your job at Taco Bell.

Sep 5, 2006 4:52 pm

[quote=Spaceman Spiff]

I think it’s great to look at the top producers and think of yourself hitting numbers like that.  Unfortunatly the only numbers you need to focus on are the firm’s and your family’s.  What lets you keep your position with your firm and what keeps a sufficient amount of food on the table.  If you can’t do those numbers, then you can’t keep playing the game.  One of both of them will force you to stop.  Then you get to wonder about how much the guy at MCDs makes vs. your job at Taco Bell.

[/quote]

Would you like an apple pie with that?
Sep 5, 2006 6:34 pm

[quote=NASD Newbie]

The question was what is being produced by those who post on this forum.

So far we have Joe with his trademark "Eleventy kabillion" which indicates that he's doing about $12,000, if that.

Remember the statements that LPL is great because their business model allows them to make a profit on producers who do $125,000?

Only somebody who is doing $125,000 would even think like that.

And then Rightway chimes in with some nebulous $100 grand per month to be a "player," whatever that is supposed to mean.

The only thing that is 100% certain is that nobody who wastes their time on this forum is a big hitter and if you ever see numbers, figure that they're three to four times reality.

For example, in my last year I did $1,500,000.  Now, your challenge is to figure out what I really did in my last year.  Remember, I was in the upper 5% of the nation at a major wirehouse.

[/quote]

You never did that much in your dreams.  And you are not even employed now.

Sep 5, 2006 7:20 pm

Newbie can’t even keep his lies and bullsh*t straight.

Sep 5, 2006 10:44 pm
Spaceman Spiff
Newbie



Joined: Aug. 08 2006
Location: United States
Posts: 14 Posted: Sept. 05 2006 at 11:29am | IP Logged

I think it's great to look at the top producers and think of yourself hitting numbers like that.  Unfortunatly the only numbers you need to focus on are the firm's and your family's.  What lets you keep your position with your firm and what keeps a sufficient amount of food on the table.  If you can't do those numbers, then you can't keep playing the game.  One of both of them will force you to stop.  Then you get to wonder about how much the guy at MCDs makes vs. your job at Taco Bell.

Imagine that, another ******* goes to an interview and is now qualified to give advice..

<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> 

Sep 5, 2006 11:31 pm

NASD, assuming he’s being honest did about $600k in production (I’m fudging numbers a little). 

Sep 5, 2006 11:33 pm

Missing a comma.  Comment brought to you courtesy of the Grammar Police.

Sep 6, 2006 2:05 am

[quote=Shmer33]


Spaceman Spiff
Newbie



Joined: Aug. 08 2006
Location: United States
Posts: 14 Posted: Sept. 05 2006 at 11:29am | IP Logged

I think it's great to look at the top producers and think of yourself hitting numbers like that.  Unfortunatly the only numbers you need to focus on are the firm's and your family's.  What lets you keep your position with your firm and what keeps a sufficient amount of food on the table.  If you can't do those numbers, then you can't keep playing the game.  One of both of them will force you to stop.  Then you get to wonder about how much the guy at MCDs makes vs. your job at Taco Bell.

Imagine that, another ******* goes to an interview and is now qualified to give advice..

[/quote]
Actually I thought that was good  commonsense advice!
Sep 6, 2006 1:44 pm

[quote=bankrep1]NEWBIE,

Before you said you worked for two large national wirehouses and now you say two small insurance companies, can you explain that? [/quote]

No, he can't explain it.  Not without lying, that is.

Sep 6, 2006 2:25 pm

For example, in my last year I did $1,500,000.  Now, your challenge is to figure out what I really did in my last year.  Remember, I was in the upper 5% of the nation at a major wirehouse.

I guess you were an executive, coasting in a corner window office looking out on the rat maze of New York City, and sucking your income from the blood, sweat and tears of the rest of the actual producers in the field?

Just trying to keep the dialogue going.  Actually a real guess is that you were involved in product development.

Sep 6, 2006 2:30 pm

I am still waiting for his response regarding Bankrep's comment. So what is it old man- worked for two brokerages or two insurance companies?

I love it- when he gets caught in a lie he simpy chooses not to respond..... CLASSIC...

Sep 6, 2006 2:53 pm

It was responded to in the post immediately after the question was raised.

That you are unable to read does not paint you in a favorable light.

Sep 6, 2006 3:07 pm

Could it be that the two insurance firms were clients of his while he was at the major wirehouse?

Sep 6, 2006 3:12 pm

Sorry Schmer if I stepped on your toes.  I think it's pointless to compare yourself as a new broker to the other vets in your office.  They may have a completely different outlook on life as you or me.  I know a lot of brokers who are driven to make "eleventy kabillion" a month and others who are satisfied taking home $8-10K.  It doesn't really matter if I can't pay my bills or keep my company happy.  

Don't get me wrong, I've done the same thing as you are.  The best advice I was ever given by one of the ones I was comparing myself to was to stop it, go talk to a prospect or a client and try to make some money today. 

Sep 6, 2006 3:20 pm

[quote=banknomore]

Could it be that the two insurance firms were clients of his while he was at the major wirehouse?

[/quote]

Could be, maybe that's what was referred to about missing commas.

When you're blinded by jealousy--as is Blarmstrom--your ability to think clearly is compromised.  If it ever existed in the first place.

Read what the fool has to say--have you ever thought of "working on my tan" to be something that a really bright guy would ever do?

Sep 6, 2006 4:55 pm

Sep 6, 2006 6:23 pm

He was never a rep, he is a retired english high school teacher who blew up his 403B and found this site while looking for information on what he was supposed to do. Now he takes pictures of his dog because his wife, well let’s just say she’s not worth the film.



You have been caught in so many lies it amazes me you still post. Time to change screen names…

Sep 6, 2006 10:55 pm
bankrep1
Senior Member



Joined: Dec. 02 2004
Posts: 713 Posted: Sept. 06 2006 at 1:23pm | IP Logged He was never a rep, he is a retired english high school teacher who blew up his 403B and found this site while looking for information on what he was supposed to do. Now he takes pictures of his dog because his wife, well let's just say she's not worth the film.

You have been caught in so many lies it amazes me you still post. Time to change screen names...

Ok, that is a bit ridiculous.  If you don’t like some one, so be it…   

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

But don’t make claims about other people’s spouses. 

 

This forum is full of such jackasses..     
Sep 9, 2006 1:30 am

Who here is netting 250K? 500K?

Sep 9, 2006 2:49 am

   

There is no on this forum making anywhere near that kind of money. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

 

I am going to start a brawl and venture to say I could guess who the three top earners are on this forum- 2 are independent.

 

They are probably 140-190k.

 

There is also retired exertive that posts.  All things considered; his geographical location; the type of firm which employed him; and his level of management; he pulled in a minimum of 500k at the peak of his career.   www.vault.com 

 

There are a few recruiters here too.  Flat out- no idea. 

 

There are a lot of people here who talk a big game too.  They portray themselves as powerbrokers.  They are 60-90k.   

 

 The rest of us are rookies, hoping to pull in the 100k+ in about three years.

       

      
Sep 9, 2006 2:58 am

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Are you referring to our gross production per month or how much we are making per year?

If you are referring to production, I don’t know. I asked the same question.  No one would admit to what they are pulling in. 

Independent compensation is structured differently than the wirehouse compensation packages.

Indys pay for everything.  But their payout is much higher 45-50%?        
Sep 9, 2006 3:07 am

I’m sure he’s  not the only one, but I’m pretty confident that Zacko is making some serious coin…

Sep 9, 2006 4:27 am

[quote=Shmer33]   

There is no on this forum making anywhere near that kind of money.

 

I am going to start a brawl and venture to say I could guess who the three top earners are on this forum- 2 are independent.

 

They are probably 140-190k.

 

There is also retired exertive that posts.  All things considered; his geographical location; the type of firm which employed him; and his level of management; he pulled in a minimum of 500k at the peak of his career.   www.vault.com 

 

There are a few recruiters here too.  Flat out- no idea. 

 

There are a lot of people here who talk a big game too.  They portray themselves as powerbrokers.  They are 60-90k.   

 

 The rest of us are rookies, hoping to pull in the 100k+ in about three years.

       

      [/quote]

I think Indy is prolly right about Zacko.  Good guy.

There is at least one other indy who is on this forum and making serious bank, say 2x the high end of the range you described.  I won't out him, but if B. wants to speak up, he will know who I am talking about.

Indyone is having a pretty good year for his rookie year indy, from what I gather.

I am going to fall slightly under the lower end of the range you cite for higher producers.  Then again it has been an interesting time for me that included a relocation across the country. I also get to play a little golf now and then.  So I can't complain, and most of that revenue is annuitized so next year will be pretty nice too!

I rather doubt Newbie made as much as he'd like to make you think.  He tries to hard to prove his importance to us for me to believe he is the real thing.
Sep 9, 2006 4:29 am

[quote=Shmer33]   

There is no on this forum making anywhere near that kind of money.

 

I am going to start a brawl and venture to say I could guess who the three top earners are on this forum- 2 are independent.

 

They are probably 140-190k.

 

There is also retired exertive that posts.  All things considered; his geographical location; the type of firm which employed him; and his level of management; he pulled in a minimum of 500k at the peak of his career.   www.vault.com 

 

There are a few recruiters here too.  Flat out- no idea. 

 

There are a lot of people here who talk a big game too.  They portray themselves as powerbrokers.  They are 60-90k.   

 

 The rest of us are rookies, hoping to pull in the 100k+ in about three years.

       

      [/quote]

I get the idea that TJ is makin' some bank, too, not to put him out by sayin' so.  I think he might be indy, but not sure.

The Judge-makes some claims-but not sure he's really putting the numbers up or just talkin' bull. I know which way I'm leaning, but not sure yet.
Sep 9, 2006 12:36 pm

[quote=joedabrkr] [quote=Shmer33]   

There is no on this forum making anywhere near that kind of money.

I am going to start a brawl and venture to say I could guess who the three top earners are on this forum- 2 are independent.

They are probably 140-190k.

There is also retired exertive that posts.  All things considered; his geographical location; the type of firm which employed him; and his level of management; he pulled in a minimum of 500k at the peak of his career.   www.vault.com 

There are a few recruiters here too.  Flat out- no idea. 

There are a lot of people here who talk a big game too.  They portray themselves as powerbrokers.  They are 60-90k.   

 The rest of us are rookies, hoping to pull in the 100k+ in about three years.

       

      [/quote]

I get the idea that TJ is makin' some bank, too, not to put him out by sayin' so.  I think he might be indy, but not sure.

The Judge-makes some claims-but not sure he's really putting the numbers up or just talkin' bull. I know which way I'm leaning, but not sure yet.
[/quote]

What about me? How much am I making?

Sep 9, 2006 1:35 pm

I think TJC puts up serious production numbers; over 20 years in the business, focused on fundamentals (new accounts, daily activity, etc).  I would "guestimate" that he produces more than all of us.

My production is significant, though there are those out there that (on comparison) make me look bush-league.  Still, I believe my practice is solid and well-developed.  Consider the following:

- No client makes up more than 2% of annual revenues

- 30% of my business is cash management, which is somewhat immune to stock market conditions.

- Over 75% of my production comes from recurring revenue (i.e fee-based, trailers, etc).  While I sacrifice the 4-5% upfront commissions, I walk in January 1 knowing that I've already booked 75% of last years' production.

- I generally avoid fee-fronting.  I don't offer/recommend any packaged/structured products.  The only annuities I do are 1035 exchanges, whick makes up less than 1% of my production. I utilize many different managers/funds, so I'm not concentrated in any one particular style (learned that lesson the hard way).

- I'm on track for a 25% increase from last year.  While my ROA is not spectacular, the law of large numbers starts having its' effect as you grow.  Also, as 30% of my business (cash management) is paying 25 bps, it reduces your ROA significantly, even though you are doing substantial production from it.

Sep 9, 2006 3:55 pm

I would agree on TJ, although I don't think he's indy.  Judge, I think you do well also...just haven't read enough clues to get a good feel yet.  Rightway appears pretty successful also.  I suspect MB puts up respectable numbers, although he's been very coy about his numbers.  Knucklehead...yeah, I think you do alright also...just can't quite sort through all the BS to make up my mind for sure...

There are several others, that while they may not be clearing 250-500K are still worth listening to.  They understand the business well, are making a good living, but have chosen a more laid-back approach when it comes to making serious coin.  Babs comes to mind as a good possibility here (although I may be underestimating production...just taking an educated guess based on the posts I recall).

It's kind of fun to guess...perhaps for amusement, we could all take guesses on various folks' production numbers.  In the end, the only numbers I know for sure to be accurate are mine...

Sep 9, 2006 3:58 pm

I wonder how much I make?

Sep 9, 2006 4:00 pm

As the Hunt Brothers told us, "If you can't count it, it's not much."

Sep 9, 2006 4:03 pm

If you can count it, it's not much.

The second mistake I've made this year.  Just damn

Sep 9, 2006 4:07 pm

Your first was trying to match wits with everyone here I would presume.

Sep 11, 2006 5:29 pm

100% comes from fixed/variable life insurance, fixed/variable annuities as an independent.  I have an annuity minimum of $50k and a life insurance minimum of $300/month.  I found that anything less than that is not worth the paperwork.  I'm just happy working 25 hrs a week in my 20s.

Sep 11, 2006 5:35 pm

[quote=JimmytheRocker]

100% comes from fixed/variable life insurance, fixed/variable annuities as an independent.  I have an annuity minimum of $50k and a life insurance minimum of $300/month.  I found that anything less than that is not worth the paperwork.  I'm just happy working 25 hrs a week in my 20s.

[/quote]

Imagine that...a guy who only sells what he wants to sell and has minimum amounts that he will sell. Unlike these other kids, who stand ready to sell anything to anyone, while being an expert at nothing.

Sep 11, 2006 7:31 pm

[quote=knucklehead][quote=joedabrkr] [quote=Shmer33]   

There is no on this forum making anywhere near that kind of money.

I am going to start a brawl and venture to say I could guess who the three top earners are on this forum- 2 are independent.

They are probably 140-190k.

There is also retired exertive that posts.  All things considered; his geographical location; the type of firm which employed him; and his level of management; he pulled in a minimum of 500k at the peak of his career.   www.vault.com 

There are a few recruiters here too.  Flat out- no idea. 

There are a lot of people here who talk a big game too.  They portray themselves as powerbrokers.  They are 60-90k.   

 The rest of us are rookies, hoping to pull in the 100k+ in about three years.

       

      [/quote]

I get the idea that TJ is makin' some bank, too, not to put him out by sayin' so.  I think he might be indy, but not sure.

The Judge-makes some claims-but not sure he's really putting the numbers up or just talkin' bull. I know which way I'm leaning, but not sure yet.
[/quote]

What about me? How much am I making?

[/quote]

Eleventy kabillion!!
Sep 12, 2006 3:13 am

Joe who told you how much I made last year?