[quote=max74]I am interested in knowing about population sizes and how firms act. The

area I am currently working in has a population of 160,000 in a 30mi.

radius. All of the common players are here. ML, SB, UBS, RJ, Dain, EDJ. Do

these firms operate the same here as they would in a 500,000+ or 1mil.+

city?[/quote]



Why would they not, except for smaller branches?

The size of the population is not a significant issue.  The real question here is how many potential customers are in the local market.

Some firms have a very broad appeal.  Others target certain investor groups or demographics.

Do you have a lot of HNW residents in your area?  Then a wirehouse will probably be best.

But if you have few HNW prospects in your area, then a bank or super-regional may be a better fit.

Do you have a lot of part-time residents, vacation homes and snowbirds in your area?  Then a national firm is a must.

What’s the average age in your market?  If you have limited retirees in your area then you may want to focus on firms with excellent products for small business owners.


These are just a few things to consider.  It is not intended to be an exhaustive list.  I’m just trying to communicate that this is not an easy question to answer without a lot more information.

Thanks JCadieux



I have lived and worked in this community for 20+ years. I would not

describe it as a rich community, but there are some wealthy people

scattered around. Based on previous research I do know that the per capita

income for our area is just over $25,000. The information you provided

gave me something to think about.

The biggest lie ever told is that big money will only go with a wirehouse.  With private bankers, brokers, planners, and insurance specialists all working under one roof, make no mistake that PLENTY of HNW rests at the bank.

[quote=BankFC]The biggest lie ever told is that big money will only go with a wirehouse.[/quote]



Fortunately, I did not say that.

There is big money everywhere, I know a guy with EDJ that has several multi-million dollar accounts. 

Sidenote, I have yet to meet someone that has 10mm in one account. I
did here about a guy with Morgan Keegan that got a 35mm dollar account
one day. Somebody sold a business and boom, they took every penny to
this guy. That must have been one sweet pay day. 

I have two accounts over ten million.  One I got while still at EDJ. He is a guy who worked for a lessor known tech firm that was bought by a well known biggie in 1997.  His options went to over ten million.  He's never changed his lifestyle and still works.  If only his very middle class neighbors knew what he has.

Another is a retired CEO of a Fortune 500 company who I sometimes wish I didn't have because he is such an arrogant pain in the a..ss

He likes our ability to take care of 144 stock and the fact that I manage his investments myself except for a small portion in unmanaged bonds and two 3rd party managers.