Small Milestone reached today
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Book hit 20M today.
I almost started from scratch around 30 months ago.
Ok enough celebrating, back to work and reaching 30M.
scrim
congrats. i have always believed that is the first level of critical mass. even your bad months should be livable. once again, well done.
very cool. I am at 10m in month 15 so I hope I will be where you are too!!
Is your business comission or fee based?
About 12M is fee based.
The balance is in money market funds and individual MF's.
scrim
well, if you backed out my "cash" that's in plain money funds I would have 12k out of 16k fee based.
if you include cash it's about 60%.
scrim
I know this is an old thread, I just have a quick question.
I’m in the process of building my book and am curious.
What is the average fee of the 12 million you have in fee based? Let’s assume that it is 1%, which would 120,000 Gross, or 30,000 gross per quarter. Is that the correct way to look at it?
Thanks in advance.
[quote=ChrisB]
What is the average fee of the 12 million you have
in fee based? Let’s assume that it is 1%, which would 120,000
Gross, or 30,000 gross per quarter. Is that the correct way to
look at it?
Thanks in advance.
[/quote]
Fee based is like building a very big annuity.
[quote=ChrisB]I know this is an old thread, I just have a quick question.
I'm in the process of building my book and am curious.
What is the average fee of the 12 million you have in fee based? Let's assume that it is 1%, which would 120,000 Gross, or 30,000 gross per quarter. Is that the correct way to look at it?
Thanks in advance.
[/quote] There are different charges but it's averages around 1.35% annually.
I collect it in quarterly installments.
scrim
The road to 30M is going pretty smoothly. I'm up to 24M total assets of which about 55% is fee based.
I did collect some of these assets from a departing colleague which I may have to give back once they hire someone to replace him.
Slow and steady wins the race!
scrim
Vin, we’re arrogant creatures by nature, I guess. I don’t mind Scrim and others posting progress (I do it myself) as it gives me a real-time yardstick to measure against instead of some arbitrary manager budget number. Assuming everyone’s truthful about production (which is probably a stretch), it’s good information to see where you stack up.