Question on Running Your own Shop
I have a question:
After reading about the top 100 independent advisors, I wanted to know who they were affiliated through?
I do not know much about being indy, barely been in the biz 1 year, but are they with b/d's like lpl or rayjay? I am thinking they are not, so who are they thru?
How much more involved is setting up your own show? (if that is what they have done?)
Which mag you looking at? I could match them up to my LPL newsletter and give you a pretty good idea how many of them are there if I saw the list…
Ahhh…found it…good ol’ RRMag. After seeing it, I don’t know why you’re asking…the B/D is in parentheses right after their firm name. #1 & #2 are LPL, #8 & #10 are LPL, and in the entire list of 100, 29 of them are LPL. Assuming others stay in the fold after mergers, several more will join LPL. Another 20 are with Ray Jay, so about half of the big boys are at one or the other. Is that what you were asking?
I thought some wire house guys looked down on some LPL guys as being wire house washouts.
[quote=doc c]I thought some wire house guys looked down on some LPL guys as being wire house washouts. [/quote] Some of them probably are, but #1 & #2 manage over a billion dollars…pretty impressive in my world…
The big irony in all of this is that the folks who look down their nose and would divide us as professionals exhibit a behavoiur that reflects the mental shackles that prevent the average person from seeking us out - instead of some of us chasing them.
Motivations: fear and hope about change.
How fast is this industry changing? Ask one of the top producers at LPL.
By the way, one of the real strengths of this forum, in my view, is that that postings are freely available to the general public, and the content is not constrained. What do we have to hide?
I also found it interesting that the top 76 wirehouse advisors (of the 100) have over $1B in assets, with the top having $17B. It was also interesting to see the tenure of some of those advisors. I guess time in business trumps all…
Broker, that would be an interesting study, and from what I have seen, that is the case.
And trumping all means, not always thinking about where you work. Like, the real sweet spot for moving reps from certain b/ds is what, two to four years length of service? The industry publications make much of their money on the broker dealer change industry, and sometimes reps lose their focus.
indyone…i was referring to the recent Barrons article. I think it was in the
most recent issue.
do you have a link for the article from rrmag on their top 100?