What's your alternative?
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Are you either looking to leave your firm ... or being shown the door? There has to be at least one or two threads started like this a week.
It's not the end of the world and you don't have to stop being a financial advisor. I am looking to bring on some talent and in fact, nearly any independent is. I'm not encouraging you to lay down or stop giving your current employer 100% - just the opposite. Swing through the ball, tackle through the body and work hard. But know other people would hire you, almost certainly and that should give you hope for today.
Feel free to pm for details.
Yeah we thought you had something to say about REITs, Futures, Hedge Funds etm. but I guess it is just a free ad...
well ... would you like me to say something about REITs? I like ARCT. Futures? I like Winton. Hedge Funds? Hatteras. I would very much LOVE to hear alternatives and what you like or anyone else's opinion about the same.
On the whole, perhaps a free ad; but re-read. Just offering consolation to the newbies that are floundering. And of course, an alternative.
I was just teasing hence the smiley. I think your experience in the OP is beneficial to the forum. What better person to ask how to escape the chains that bind us besides someone that broke away.
... thanks!
But really! ... I actually started the same sort of thread that really was about alternative investments in the "other forum" and didn't get much in the way of responses. If you've got some favs, let's hear it!
We are somewhat limited on what we can do here. We have used MLPs. We are using REITs a lot right now. We use Goldman Sachs (commish) and DWS (fee base) alternative asset funds as well.
217 views in one day; and more inquiries than I might have otherwise expected.
Interesting.
Hi,
I'm Interested in knowing more about opportunities in the indy universe out of Jones.
FA86! you wask-ally wabbit.
We chatted a bit on the "other forum". PM me for details. And to respond to ND (is that North Dakota? I can't imagine it does ... there must be five financial advisors in that state and overpopulated at that number) ... the responses are not all MSSB.
[quote=LockEDJ]
FA86! you wask-ally wabbit.
We chatted a bit on the "other forum". PM me for details. And to respond to ND (is that North Dakota? I can't imagine it does ... there must be five financial advisors in that state and overpopulated at that number) ... the responses are not all MSSB.
[/quote] You are the second person to guess North Dakota, but at last it does not. I The inquires from mssb reps have increased on the board. I happened to be curious if the responses you have received thus far were mostly from that crowd or are all the captives unhappy??
ND - Morgan some, Jones some, banks some. And of course, I take nothing from that; they're just indicating they want more information.
Can you send me everything you sent them so I can go through it? Just cut and paste it all and I will sort through it later...
Also, how do you hedge the risks of bringing on another rep? Do they hang there own shingle, pay you their share of fixed expenses and add a "consulting fee" on top of that for your assistance in whatever ways that may come?
I don't suppose I have an answer for you.
The people I'm looking to recruit will get what I think is a pretty much square deal; a strong payout schedule that's graded upwards based on performance. At $20K per month or more, you'll net 75%. Frankly that is more than most indy's get to keep. Pay twice monthly. I cover for MGP and Cashedge - the equivilant of eMoney - plus Albridge. You've got to cover the cost of EO ($200) and some technology fees. CRM currently is Upswingcrm, but likely I'll change to Pershing's integrated CRM soon.
BYOL - bring your own laptop. Otherwise everything is covered; your name and bio appears on the webpage. The accounts are yours to take with you if you'd like; it's my goal to make the experience something that makes you want to stay.
I'd like to reiterate ... I'm not in the business of attracting guys doing $250,000 a year. They can make their own way easily enough. But guys that are just getting along, getting to $80,000 - 180,000 a year in sales that could conceivably stay the course and make it with some help and a better pay scale ... that's fine for me. Let's go, let's make some money together.
My question was pertaining to you being drug into a lawsuit etc. If they are your employee, they are your responsibility.
It plays out like a great opportunity for the other guy but not sure about you unless 25% covers the added risk of rep employees.
? each advisor carries their own EO insurance, as per my previous post. Exactly what residual risk am I concerned with??
I am not sure that is why I am asking. Say one of your advisors screws over a little old lady. Will he be solely responsible for arbitration or as your employee will it be your responsibility to defend that accusation and your reputation (ie Lock Investments) effected by this potential scenario?