I’d say go with the young indy guy. If he can uncover 50M in 3 years,
then you definitely have something to learn from him. Doing a support
role at a wirehouse is good if you want to get accustomed to the work
environment, but the best way to learn how to swim is to actually do
it. If he’s not willing to take you as a full member of the team, and
allow you to eventually build you own book, reconsider, but not after
you’ve taken him out to lunch a few times and get him to share his
secret. Good Luck

In general, what is the setup like when joining a current indy advisors outfit?

I know it varies, but I am trying to think through some of the differences.

The reason I ask, is that you go indy to run your own shop…so are their still

pros to going with an indy advisor?

[quote=Boomer]
The reason I ask, is that you go indy to run your own shop...so are their still pros to going with an indy advisor?

[/quote]

Does that sentence make sense to anybody?

Their still pros--is that similar to their still-born?

is it a pure indy LPL firm or a firm w/ an FIS agreement with a bank?

if it's a pure Indy office, don't join at the wirehouse pay-rate, but if they are paying out +50% and you can benefit from the offices:

-office space
-assistant
-supplies (computer, desk, telephone)
-lists
-mentorship
-software
-ect

you give up:

-traditional training program
-commission/draw/salary during your early yrs in biz
-generally more local support
-ect

It’s etc, not ect.

[quote=NASD Newbie]

[quote=Boomer]The reason I ask, is that you

go indy to run your own shop…so are their still pros to going with an indy

advisor? [/quote]

Does that sentence make sense to anybody?

Their still pros–is that similar to their still-born?

[quote=Boomer]

If you can read english, it makes perfect sense. You have to me able to understand sentence structure...that may be difficult for you, but you can get there if you try. Dont worry.

I will try and break down the sentence so you can understand it better and offer me some worthless advice:

You go indy to run your own business...by going under a current indy
advisor, you are not "running your own shop". You are working for an
advisor who runs his own shop. That may still be tough for you to
comprehend, but let me know and I can make it even simplier. [/quote]

What does "You have to me able...." mean?

Dont is spelled, "Don't" look at your keyboard, on the right next to the shift key.

In your final paragraph--is there a question in there, or is it just a collection of words that are loosely associated with each other?

Oh wait, I get it.  You're telling the reader that if they work for an Indy producer they work for an Indy producer.  It's good to have the business figured out that well.

Take Newbie's opinions on Indy producers with a grain of salt.   

He is bias because there is no way to carve out a piece of the pie to pay for his management position. Their business model wouldn't provide a guy like him with a bowl of cereal, let alone 6 weeks vacation and a nice salary.

[quote=NASD Newbie]

[quote=Boomer]If you can read english, it makes perfect sense. You

have to me able to understand sentence structure…that may be difficult

for you, but you can get there if you try. Dont worry. I will try and break

down the sentence so you can understand it better and offer me some

worthless advice: You go indy to run your own business…by going under

a current indy advisor, you are not “running your own shop”. You are

working for an advisor who runs his own shop. That may still be tough for

you to comprehend, but let me know and I can make it even simplier. [/

QUOTE]

What does “You have to me able…” mean?

Dont is spelled, “Don’t” look at your keyboard, on the right next to the

shift key.

In your final paragraph–is there a question in there, or is it just a

collection of words that are loosely associated with each other?

Oh wait, I get it. You’re telling the reader that if they work for an Indy

producer they work for an Indy producer. It’s good to have the business

figured out that well.

[/quote]

You DO know that your use of commas is quite poor, don’t you? It

makes you look stupid.

"You DO know that your use of commas is quite poor, don't you? It makes you look stupid. I hope your dog dies today."

The problem here, Knucklehead, is that most of what NASDy Newbie "knows" is incorrect.  Unfortunately, he is convinced of his omniscience and rejects any opinion or fact that does not coincide with his world-view, distorted as that may be.  That tendency, by the way, is an earmark of classic ignorance.

[quote=Rugby]

Take Newbie's opinions on Indy producers with a grain of salt.   

He is bias because there is no way to carve out a piece of the pie to pay for his management position. Their business model wouldn't provide a guy like him with a bowl of cereal, let alone 6 weeks vacation and a nice salary.

[/quote]

Whatever.

Do you suppose that an independent broker dealer has an officer who is charged with overseeing things like branch development?

Tell me something boys and girls.  The other day Indyone was chortling because LPL announced that they're increasing the payouts on their grid.  He looked at that as if it were a raise.

I look at it as an indication that LPL is going to provide even less support, and will transfer more of the hidden expenses onto the producers.

I have no idea what share of the group medical costs are born by the reps--but unless it's 100% there is always the risk that what the right hand gives you in a bump in your share of the income gets taken away by a bump in your share of the expenses.  Then, after that increase in the share of expenses becomes accepted the left hand pulls your share of the income down again.

The idea that a broker/dealer can provide ever increasingly expensive support without passing those increases on to you is ridiculous.

You guys can't even spell, what in the world makes you think you can understand the workings of a huge corporation.

Do you suppose that Merrill earns more at its bottom line from retail branch operations or interest on margin accounts?

How about retail branch operations or public finance underwritiing?

Corporate finance?

Stock loan?

Block trading?

Nasdaq position trading?

Clearing for others?

Broker/dealers spend endless hours debating the pros and cons of even having yo-yo's like most of you around--you bring in next to nothing in revenue and are compliance problems just waiting to happen.

Newbie, your assertions are pure speculation, hence meaningless.  Do you have any empirical data to support your opinions?

I didn't think so.

NASD’s point above about the wires not really wanting smaller producers

may be true…even more reason for the $200-$350k guy to go

independent. More and more the wires don’t want them so the payouts and

other factors reflect it–whereas indys love to add those people. I’m not an

expert on LPL’s et al model, but I think everybody they bring on is marginal

revenue because they don’t cover the reps expenses. So if they figure out

the support numbers correctly, adding a $300k producer should add around

$30k add’l revenue with minimal add’l expense. And I don’t think they have

any extra liability, right, since brokers have to get their own E&O?