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How was everyones year?

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Dec 2, 2006 1:09 pm

As we close out 2006 how did everyone do this year?  My team grew
nicely and the perormance was good for the most part.  Our managed
accounts did real well, the portfolios I run all outpaced the S & P
so far except one, which is down about 1%. 
We really refined our process and got things streamlined.  I feel
like we have good momentum going into 2007.  I thnink the business
opportunities are as good as they have ever been and I cannot wait for

Dec 3, 2006 1:56 pm


I like your positive enthusiasm. What is your avg. production for your team?

Dec 3, 2006 2:10 pm

Its up there.

Dec 4, 2006 12:58 am

Enough said.

Dec 4, 2006 3:20 am

It was the best of times, it was the worst of times.

In general, my business has grown significantly and, in my 5 th year in the business, I can say that all of my new business is from referrals. I think that I'm 5 years away from the business that I truly want - but that's 10 years away.

I think that the average quality of the people in the profession has drastically improved in the last few years.

And it looks like it will have been a decent market for the year....

On the negative side; I'm really disappointed that the firms in general, and mine in particular, have become so depressingly run and incompetently managed. The vast majority of managers that I encounter are just terrible. It wasn't that way when I started.... What has happened to the quality of firm management?

Dec 4, 2006 8:11 am

Although my scale is much smaller as a new indy, I am well pleased with my 2006.  I just passed my AUM goal ($30 million from zero in 17 months) and am far more organized than I have ever been in my life (using Outlook integrated with Act and all synced to my PDA).  My income is higher than it has ever been (probably around $150K) and my production should end somewhere in the $225-250K range, which is not what it was before I left, but I should hit that number ($350K) in the next couple of years.  My blood pressure is lower and I actually look forward to Monday mornings.  My typical client is up in the 12-18% range, and I don't think any of them lost money this year.  I don't claim to be an investment genius and generally hire professionals to manage client money, but all in all, my clients are well satisfied with how things are going.

All in all, for my first full year as an independent, I'm well pleased with how things have gone.  While I am but a tiny blip on Wall Street's screen, I'm having a lot of fun and living a good life.  That's what it's all about.

Dec 4, 2006 1:00 pm


This isn’t humble hour, give yourself more credit. You have done well.
Hopefully, I will be up there with you guys in the next several yrs.

Dec 4, 2006 1:03 pm

You were doing less than 225k gross at the bank Indy? What was your AUM?

Dec 4, 2006 2:15 pm

[quote=$$$$$]You were doing less than 225k gross at the bank Indy? What was your AUM?[/quote]

You really need to work on your reading comprehension…

Dec 4, 2006 2:17 pm

Your right. I misread it.

Dec 4, 2006 5:18 pm

AUM was about $47 million at the bank, but I targeted less than half of that due to a lot of captive business (bank as trustee, etc.) and a fair amount of junk that I was later sorry I opened, pluse about $2 million in inherited two-tier annuities  (I think I followed Dirk’s/MIC’s twin)…

Dec 23, 2006 6:50 am

Year was great! I grew my revenue by 30% added a partner for 2007.  And have a full financial services team (planner, life specialist, assistant ect) … Life is looking good … money is good …I think I hit heaven on earth… seriously …

Dec 28, 2006 9:28 pm

Indyone. Nice to hear your doing so well in such a short time as an indy.

To make about $150k from $225k production you must have your expenses relatively under control. Do you have assistants, inexpensive rent,do advertising etc?

Dec 28, 2006 10:47 pm

I share office space and an assistant with a group of CPA’s.  My advertising budget is pretty simple…some short sponsor shots on the radio and a periodic business card size ad in the local rag.  Total advertising budget is about $350/month and is just geared toward name recognition rather than products.  I try to spend the money where it’s necessary and hold onto it where it’s not…

Dec 28, 2006 11:42 pm

I had a fabuluos year thanks for asking next year is going to be even more fabulous!