Even accounting for the fact that you were in a bank environment where referrals are lead to you, it seems to me that you did a great job for your first year.  Others who are in such programs may have a better perspective.

50% growth would be an ambitious goal, but not impossible.  IMHO, though, it is essential that you do not lose sight of those you already brought on board.  That is a constant temptation when you are in a fast growth mode.  Yet, it is those existing clients who, if you take good care of them, will eventually provide you with a nice stream of referrals.  They will also form your 'core' client base if you ever decide you want to move on and take your clients with you.

As another poster sez, just my 2 cents....

One other thing…if your ‘bosses’ are happy with your fast start this year, try to use your success as leverage to get support staff assigned to you…talk to them about how, if they want you to continue to grow quickly, you can do it but you will need help.

Last year I set a goal of 35% and ended up increasing GDC by 38%

thanks for the feedback.    

Before beginning my practice I was a manager of customer service for a big brokerage firm.   

During many of my proposals to clients I let them know about my background and say something to the effect "financial products are a dime a dozen, the reason we should do business together is you will find my service will be the differentiator.    This is a two way street here so I will also expect you to come to me first as your goto person on any financially related aspect of your life.   If I don't know the answer I will find someone who will."

I am hoping to see more referrals as the months and years go by.  So far I'm lacking in that dept. and I do ask when I feel it's appropriate.   I would imagine as my practice matures they will increase.

scrim

Not sure if this is relevant but I did 200k gdc while having what I believe is a relatively low average commission generated.    Since most of my biz is fee based I think my average commission was around 3%.

Many of my colleagues are as high as 5.5% if they are doing mostly annuity business of which I do almost zero.

Scrim

that was a good first year. 200K in any institution bank or brokerage house in first year is fantastic. I would say 250k would be a good number.

[quote=scrim67]

Not sure if this is relevant but I did 200k gdc while having what I believe is a relatively low average commission generated.    Since most of my biz is fee based I think my average commission was around 3%.

Many of my colleagues are as high as 5.5% if they are doing mostly annuity business of which I do almost zero.

Scrim

[/quote]

3% first year actually is pretty darn good if most of your biz is going into fee based.  from what I recall your program gives you a bit of a 'bump' for the first year...

Scrim, my avg was 2.3%, my first year I brought in 8 mil.   your doing great keep up the good work.

[quote=bankrep1]Last year I set a goal of 35% and ended up increasing GDC by 38%[/quote]

Did YOU set the goal or did your boss?

Dirk I did.  My environment is very open, I can do what I want, focus on whatever type of business I want to.  I will admit alot of bank programs have to many managers who micro-manage.  Mine thankfully does not, I am sure if I didn’t put up #'s there would be discussions about why, but that will never be a problem for me.

[quote=bankrep1]Dirk I did.  My environment is very open, I can do what I want, focus on whatever type of business I want to.  I will admit alot of bank programs have to many managers who micro-manage.  Mine thankfully does not, I am sure if I didn't put up #'s there would be discussions about why, but that will never be a problem for me.[/quote]

How nice for you.

It’s nice to be me.

You asked Mr. 10%…

Dirk,

For someone who has such a sucessful business and makes so much $$$, why do you waste your time sh*tting on others?  Most people I have know that act like you were severely neglected as children and have an intense need for recognition and validation.  Napoleon syndrome all the way. 

Maybe we all should line up and bow down before his excellency Mr. 10%, our North Star; the epitome of what we all strive to achieve in business and life, the pinnacle of what a broker should aspire to.  Thanks Mr. 10% for the nuggets (more like mouse droppings) of wisdom you have so graciously bestowed upon us, that we may have starved intellectually and professionally had you not taken it upon your unfettered self to point out to us our wayward ways.  My heart and conscience aches at the thought of not receiving your guiding rebuke, that I may wander aimlessly throughout life an ingnorant pauper, unaware of my folly.  That we have recieved your pity is a blessing unimaginable, a precious gift of immense wealth, a diamond without defect.  May we go forward being cleansed of our transgressions and ignorance, with a heavy heart to not go astray again. 

Yeah, this guy is starting to sound like a true hack in my opinion… I like quite a few of his posts, but the arrogance and superiority complex just doesnt fly in my book…

[quote=dude]

Dirk,

For someone who has such a sucessful business and makes so much $$$, why do you waste your time sh*tting on others?  Most people I have know that act like you were severely neglected as children and have an intense need for recognition and validation.  Napoleon syndrome all the way. 

Maybe we all should line up and bow down before his excellency Mr. 10%, our North Star; the epitome of what we all strive to achieve in business and life, the pinnacle of what a broker should aspire to.  Thanks Mr. 10% for the nuggets (more like mouse droppings) of wisdom you have so graciously bestowed upon us, that we may have starved intellectually and professionally had you not taken it upon your unfettered self to point out to us our wayward ways.  My heart and conscience aches at the thought of not receiving your guiding rebuke, that I may wander aimlessly throughout life an ingnorant pauper, unaware of my folly.  That we have recieved your pity is a blessing unimaginable, a precious gift of immense wealth, a diamond without defect.  May we go forward being cleansed of our transgressions and ignorance, with a heavy heart to not go astray again. 

[/quote]

You're welcome.

[quote=blarmston]Yeah, this guy is starting to sound like a true hack in my opinion... I like quite a few of his posts, but the arrogance and superiority complex just doesnt fly in my book...[/quote]

Which ones did you like?