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Dec 1, 2005 1:17 am

After a transition from Jones to a major firm such as Merrill or SB, how long should it take to rebuild and get back to where you were as far as revenue?  I’m building a fee based biz going forward, my gross sucks.  Also, I 'm being a little more selective about who I’m doing business with so I’m not bringing in as much assets as before w/ Jones.  What’s everyone’s thoughts on this?

Dec 1, 2005 2:34 am

I switched from transaction to fee based when I switched firms and it
took me about 3 1/2 years to get back to the production level I had at
my previous firm.   

Dec 1, 2005 6:06 am


3 1/2 years? Finally an honest answer.


Dec 1, 2005 2:36 pm

BPD, don't get too excited.  Rightway said he switched his business model to fee-based at the same time he switched firms.  Even if someone didn't switch firms and made a significant jump from transaction to fee there'd be a similar effect on gross.  Say you brought in a $100,000 account and got 3% commission on that new money.  If instead you put it in fee account and got 1% annual fee it'd take you 3 years before you "broke even".  Simplistic example, but you get what I mean.

When I changed firms a number of years ago I also wanted to convert more to fees.  But, I got good advice to first make the firm change and continue to do business as I always had.  Then slowly transition to fee business over a 2-4 yrs.  That kept my gross fairly consistent as I was making the change.