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May 29, 2007 8:04 pm

[quote=Indyone]

I do both, although it didn't take long for me to determine that I like the investment business a whole lot better.  If I could fire my family and friends, I'd be completely out of the accounting business.

...not to mention that the pay in the accounting business sucks in comparison.

[/quote]

Why would you fire your friends and family if they are good clients?  Didn't they stand by you when you started?

Just hire a competant person to handle this aspect for you, and you oversee it.

Have you talked with them about wanting to change this part of your business?  You might be surprised that they want a change too.

May 29, 2007 8:26 pm

[quote=intrigued]

[quote]i think cpa's should stick to what they do best...preparing tax returns. cpa's should not provide investment advice.  

financial advisors dont give tax advice, why should cpa's select investments for clients?[\quote]

Hmm..perhaps it's some of your clients whom I'm helping out...those who have been sold regular IRA's who don't even have taxable income, Roth IRA's when their income is too high...

Pardon me but I believe tax planning and financial planning should be integrated...whether you choose to wear all hats or some is up to each individual as long as you keep your client's best interest in mind. I don't hold myself out as an expert in all fields but I can assist my clients with an investment/financial/tax plan and draw on experts for those area where I'm not fully experienced.

Why do you think CPA's are just tax return preparers?  Please qualify your statement why you think CPA's should not provide investment advice? Do you truly believe they can't and don't have the skills? I see many recognized financial planners have their CPA designation.

Perhaps I should add to this conversation that outside of tax season I only need to currently put in approximately 20 hours per week with my CPA practice. So let's get back on track with this discussion.

Some have suggested searching out a better broker/dealer and that may be a wise idea.  Any recommendations on BD's that offer quite a bit of flexibility?

If registered at the state level is RIA compliance really that cumbersome?

[/quote]

im not a fan of having the same person who prepares your taxes help you select your investments.

or else why stop there, maybe i'll ask my real estate agent to prepare my taxes

May 29, 2007 8:29 pm

[quote=vbrainy][quote=Indyone]I do both, although it didn’t take long for me to determine that I like the investment business a whole lot better.  If I could fire my family and friends, I’d be completely out of the accounting business.

...not to mention that the pay in the accounting business sucks in comparison.[/quote]

Why would you fire your friends and family if they are good clients? I'd fire them because tax/accounting work is time-consuming, less profitable than investment management, and you get to deal regularly with bureaucratic idiots (much worse than your B/D's compliance people) Didn't they stand by you when you started? They sure did...and that guilt keeps me in the accounting business.

Just hire a competant person to handle this aspect for you, and you oversee it.  I basically do this now...and it's still more of the accounting world than I want!

Have you talked with them about wanting to change this part of your business?  You might be surprised that they want a change too.  Actually, I have told a couple of them and the feedback I got was, "you can't quit!"  Sure, I could force all of them out, but I wouldn't feel like I've treated them as I would want to be treated.[/quote]

May 30, 2007 4:55 am

[quote=Indyone]You are never free...unless you are independent...  [/quote]

I love your signature Indyone.......so naive, but it's the classic falsehood that has herded all the indies into thinking they are atop the financial services industry.  Just remember none of us are "independent" of the client or big brother NASD/SEC!!  But, if it makes you feel superior by all means dream away. 

May 30, 2007 1:45 pm

[quote=BullBroker]

[quote=Indyone]You are never free…unless you are independent…  [/quote]

I love your signature Indyone.......so naive, but it's the classic falsehood that has herded all the indies into thinking they are atop the financial services industry.  Just remember none of us are "independent" of the client or big brother NASD/SEC!!  But, if it makes you feel superior by all means dream away. 

[/quote]

How long have you been independent?
May 30, 2007 4:45 pm

[quote=BullBroker][quote=Indyone]You are never free...unless you are independent...  [/quote] I love your signature Indyone.......so naive, but it's the classic falsehood that has herded all the indies into thinking they are atop the financial services industry.  Just remember none of us are "independent" of the client or big brother NASD/SEC!!  But, if it makes you feel superior by all means dream away.[/quote]

Having been at this awhile, I'm anything but naive about the business.  Your statements are classic falsehoods spoken by a branch manager trying to keep the sheep in the fold.

Freedom is a relative term.  I came it at 9:30 this morning, but will work until midnight (Wednesdays are my long days), so freedom doesn't necessarily mean short hours, but it does mean flexible hours and no manager asking where I've been.  Freedom will never mean freedom from compliance/NASD/SEC, but it does mean freedom from stupid management rules like X appointments per day.  Freedom strips away most production goals, with the exception of one minimum that I easily hit just by servicing what I have.

Of course we must take care of our clients, and now I have the freedom to do so without stupid management interference.  I'll never forget being asked to quit using a certain investment, not because it wasn't good for the clients, but instead because it caused some extra bookkeeping for our back office.

You've also mistaking my satisfaction with all the freedom I now have for a feeling of superiority.  While I won't deny an occasional feeling of superiority to mental midgets such as yourself, I have no problem admitting that there are producers who post here who (1) are smarter than me, (2) have higher production/AUM than me and/or (3) are probably better salespeople than I am.  That being said, I've witnessed several people here who obviously felt pretty superior only to watch them eat crow later.  Bill Fakkland, who would defend Edward Jones as the best thing since sliced bread only to earlier this year admit that he'd been wrong about his impressions of his employer.  Greenhills who strutted and pranced on these forums only to recently admit that SB was screwing him and his coworkers.  You're obviously pretty new at this, so don't be surprised if someday you feel like your employer is sticking it to you in some fashion.  Bottom line is, I don't feel "atop the financial services industry"...I feel freedom like I've never felt it before and there's no doubt in my mind that both my clients and I are better served by my decision to break free.

As for my tagline...I think it is a statement that's pretty close to reality, like it or not.  I'm convinced that for me, it was absolutely the right move.  You're more than welcome to use "you'll never be successful...unless you're working in a wirehouse."  Just don't expect me to buy it.

May 30, 2007 5:17 pm

[quote=Indyone]

[quote=BullBroker][quote=Indyone]You are never free...unless you are independent...  [/quote] I love your signature Indyone.......so naive, but it's the classic falsehood that has herded all the indies into thinking they are atop the financial services industry.  Just remember none of us are "independent" of the client or big brother NASD/SEC!!  But, if it makes you feel superior by all means dream away.[/quote]

Having been at this awhile, I'm anything but naive about the business.  Your statements are classic falsehoods spoken by a branch manager trying to keep the sheep in the fold.

Freedom is a relative term.  I came it at 9:30 this morning, but will work until midnight (Wednesdays are my long days), so freedom doesn't necessarily mean short hours, but it does mean flexible hours and no manager asking where I've been.  Freedom will never mean freedom from compliance/NASD/SEC, but it does mean freedom from stupid management rules like X appointments per day.  Freedom strips away most production goals, with the exception of one minimum that I easily hit just by servicing what I have.

Of course we must take care of our clients, and now I have the freedom to do so without stupid management interference.  I'll never forget being asked to quit using a certain investment, not because it wasn't good for the clients, but instead because it caused some extra bookkeeping for our back office.

You've also mistaking my satisfaction with all the freedom I now have for a feeling of superiority.  While I won't deny an occasional feeling of superiority to mental midgets such as yourself, I have no problem admitting that there are producers who post here who (1) are smarter than me, (2) have higher production/AUM than me and/or (3) are probably better salespeople than I am.  That being said, I've witnessed several people here who obviously felt pretty superior only to watch them eat crow later.  Bill Fakkland, who would defend Edward Jones as the best thing since sliced bread only to earlier this year admit that he'd been wrong about his impressions of his employer.  Greenhills who strutted and pranced on these forums only to recently admit that SB was screwing him and his coworkers.  You're obviously pretty new at this, so don't be surprised if someday you feel like your employer is sticking it to you in some fashion.  Bottom line is, I don't feel "atop the financial services industry"...I feel freedom like I've never felt it before and there's no doubt in my mind that both my clients and I are better served by my decision to break free.

As for my tagline...I think it is a statement that's pretty close to reality, like it or not.  I'm convinced that for me, it was absolutely the right move.  You're more than welcome to use "you'll never be successful...unless you're working in a wirehouse."  Just don't expect me to buy it.

[/quote]

  

May 30, 2007 10:34 pm

I will agree with you that freedom is a relative term.  Sorry, just couldn't resist, the majority of the "indies" on this board act "superior" and are usually the ones demeaning the "newbies".  So, I like to stir the pot a little and get the ones like "Joeda" riled up, it's really easy, and fun after a long day of pounding the bushes.  Take it easy indy, for whatever its worth you earned my respect by intelligently responding instead of just bashing.   

May 30, 2007 10:36 pm

...fair enough...I don't mind stirring the pot from time to time...

May 30, 2007 10:52 pm

Indy- you shouldnt admit to doing anything with pot on these forums… Big brother is watching, and he is coming for your stash…

Jun 1, 2007 4:13 am

[quote=BullBroker]

I will agree with you that freedom is a relative term.  Sorry, just couldn’t resist, the majority of the “indies” on this board act “superior” and are usually the ones demeaning the “newbies”.  So, I like to stir the pot a little and get the ones like “Joeda” riled up, it’s really easy, and fun after a long day of pounding the bushes.  Take it easy indy, for whatever its worth you earned my respect by intelligently responding instead of just bashing.   

[/quote]

I am not riled up, actually.

Indyone said it pretty well.

So…how long have you been indy?  I presume that is how you acquired your expertise?

If you are not indy, how long have you had your license?
Jun 1, 2007 10:36 pm

No, I am not an Indy, just listen to them talk about how great their lives are (thats how I have obtained some knowledge, never claimed expertise, so sorry to steal that potential comeback from you, I bet you will still use the “you’ve only been in the business for less than 1 year so you know nothing bit” unoriginal but you can play it if it’s all ya got".  I have been licensed for six months now thank you for asking.  Have a great weekend Joe…da!! 

Jun 1, 2007 10:41 pm

[quote=BullBroker]No, I am not an Indy, just listen to them talk about how great their lives are (thats how I have obtained some knowledge, never claimed expertise, so sorry to steal that potential comeback from you, I bet you will still use the "you've only been in the business for less than 1 year so you know nothing bit" unoriginal but you can play it if it's all ya got".  I have been licensed for six months now thank you for asking.  Have a great weekend Joe.....da!! [/quote]

PoleSmoker, I don't have anything to say to you. I just wanted to call you "PoleSmoker."

Jun 2, 2007 1:06 am

[quote=BullBroker]No, I am not an Indy, just listen to them talk about how great their lives are (thats how I have obtained some knowledge, never claimed expertise, so sorry to steal that potential comeback from you, I bet you will still use the “you’ve only been in the business for less than 1 year so you know nothing bit” unoriginal but you can play it if it’s all ya got".  I have been licensed for six months now thank you for asking.  Have a great weekend Joe…da!! [/quote]

You win your bet, Junior.  You’re hardly out of diapers…frankly it was pretty obvious from some of your remarks.  If you get to 2 years, much less 5 years, you’ll understand better.

If you’re willing to do the extra work to get your feet under you, and take the responsibility of being your own boss, the freedom that comes with being Indy can be pretty darn good.  It’s just that simple.  There’s so much dead weight you don’t even understand yet.

But some day you might, if you don’t end up pumping gas for a living…

Jun 3, 2007 5:58 am

Very original Joe, keep that stuff coming!!  Hey, how does it feel to know everything, and know what is best for everyone??  I guess I will figure out when I get old too

Jun 3, 2007 6:03 am

I think it is hillarious that Bobby Hull has only been here since March 2007 and has already racked up 700 post of useless filth.  How can someone who is supposed to be an intellectual, knowledgable, and well-spoken as a FA be so completly ignorant and useless???  I guess it takes a talent that only a rare few possess. 

Jun 3, 2007 6:30 am

Not many people here have the guts to say what you said.

I notice Joe is quick to come to Bobby's defense. The need to bully and control does indeed appear to create strange bedfellows ( no humour intended about Bobby's now famous diminished unit).

Jun 3, 2007 2:08 pm

[quote=crashcourse]

Not many people here have the guts to say what you said.

I notice Joe is quick to come to Bobby's defense. The need to bully and control does indeed appear to create strange bedfellows ( no humour intended about Bobby's now famous diminished unit).

[/quote]

She is DEFINATELY Parachute/Freedomadvocate, etc.

Jun 3, 2007 2:14 pm

[quote=crashcourse]

Not many people here have the guts to say what you said.

I notice Joe is quick to come to Bobby's defense. The need to bully and control does indeed appear to create strange bedfellows ( no humour intended about Bobby's now famous diminished unit).

[/quote]

I'd like to know where in the hell were you when I was being cyberbullied by this bully!!!!  But welcome back!

Obviously you didn't care for the trash talk about your mommie.

Next, beware:  he'll tell you to jump in her lap and light a match. Oh yeah, he enjoys encouraging suicide and should go assist Dr. Death who just got out of prison.

Joe says he is not him so I will have to believe him.

Glad you are now reading/willing to put that little d*k in his place. I'm done posting but wanted to say: yeah, give him some of his own medicine and the fact that you are in the biz - guess gives you the right to really "sock" it to him... I hear he might runing low on socks, too.  Don't let him get to you: you must be persistent.  If he cyberbullies: there's always the press, FBI or Oprah but be willing to give your real name if you want any action from them.

I for one support you!

Jun 4, 2007 1:23 pm

[quote=crashcourse]

Not many people here have the guts to say what you said.

I notice Joe is quick to come to Bobby's defense. The need to bully and control does indeed appear to create strange bedfellows ( no humour intended about Bobby's now famous diminished unit).

[/quote]

hmmm, are you implying that joe and bobby bully are bedfellows (e.g. butt buddies)?  They seem to cover each other's backside quite a bit.