Skip navigation

AUM needed for sales assistant?

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Mar 24, 2007 8:33 am

What’s the AUM needed to get a sales assistant at your firm? I know a guy that was at a major city branch of ML with 90MM and still didn’t have an individual assistant. When he moved firms he was given two. Obviously varies drastically among employer. What firms have the best sales support staff and at what point is one generally given access to an assistant, either shared or full-time?

Mar 24, 2007 1:48 pm

At my firm it is based on production, not AUM.  I think you qualify for a SA at $350K Production.

Mar 25, 2007 12:15 am

Regardless of whether the firm provides one or not, you should first consider if you need one.

If you're a marketing maniac and you find yourself doing grunt work several hours a day, licking envelopes, preparing mailings, etc. (when you could be marketing); then yes, you do need an assistant. But maybe only a part-time assistant.

Firm won't shell-out the bucks for a part-time assistant? Then you do it. Too expensive? Maybe not. Take your annual gross and divide it by the total annual hours you market yourself. Example: $300,000 gross divided by 1300 hours marketing (5 hours/day) = $230/hour. By giving up 3 hours/day to do grunt work, you cost yourself approximately $179,400 gross annually.

Maybe paying someone $10-$20/hour isn't too much afterall. 

Mar 25, 2007 2:34 pm

We are about 1.5 million per assistant.  If you are not doing 1.5
mil, you share one.  You can have your own prior to 1.5 mil, but
you must pay for it.

Mar 25, 2007 11:36 pm

I was thinking of getting one, although I’m considering changing firms so for

the purpose of my current situation it would be a “plus” that might serve as

a decision maker between close offers. I could deal with part-time and will

pay myself if necessary.

Mar 26, 2007 2:11 am

If you work with HNW clients you should have one staff person for every 50 clients per Russ Prince in an Investment Advisor Magazine article.