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2010 Looks Fairly Bleak For Brokers

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Jan 15, 2010 9:14 am

Wow, not even going to quote anyone here, but I will give my ideas for 2010:

Older clients: But them in safe bonds and dividend paying equities. (standard) Toss some in guaranteed Variable annuities, and then about 15% in diversified REITs. Many are investing heavily in health care real estate. These REITs provide income and retain capital
Jan 15, 2010 12:56 pm

[quote=beddie]



Older clients: But them in safe bonds and dividend paying equities. (standard) Toss some in guaranteed Variable annuities, and then about 15% in diversified REITs. Many are investing heavily in health care real estate. These REITs provide income and retain capital



[/quote]



standard equities

they retain capital



great insight retard wtf

Jan 15, 2010 7:50 pm

[quote=Gaddock]Really so lets share it then piker boy he he he. You’re so full of sh*t you can’t even keep up with you own pathetic reality.

  Why do you always resort to some sick homosexual blather? What's up with that?   So your slapped with the reality of being a piker so the first thing that comes in your head is  homosexual sex acts? Don't you find that strange?   Don't you have better things to do just before the open?[/quote]   Hi rookie,   The answer is still no HOMO!!
Jan 15, 2010 9:34 pm

Again with the fag talk. What's up with that piker? Do you answer everything with fag talk?

Jan 16, 2010 12:06 am

[quote=Gaddock]

Again with the fag talk. What's up with that piker? Do you answer everything with fag talk?

[/quote]     Hello again rookie,   Still no dice queer boy   Again, you are a liar and a phony.......I don't believe a word you say rookie. Ask me anything about PIM, qualifications, how much to charge, how to trade, I don't care I am legit and can prove it. You are a LOSER and a HOMO!!!!!
Jan 16, 2010 12:30 am

This year will be bleak for some and for some they will do very well.Totally depends on that persons situation.



Morale in my office sucks right now. Just a lot of BS coming down from my firm and people are pissed off. I very well might do less business than last year. Last year I was up slightly from 08 which I consider a miracle.



I’m not big on putting down revenue goals because in the end for me it’s just a number. I know breakpoints I need to hit so I have a general idea of where I want to be.



Most important thing to me is bringing in assets. But this business is crazy sometimes. Lost a 1.5 million dollar client today and I’m still not sure why after speaking to him. This happens sometimes. Luckily he didnt do that much business but he was a client for 15 years so it gets to you sometimes.



But I’m closing in 2 weeks on a 3.5 million 401k so that makes up for todays loss.



If I do close to what I did last year but increase my new assets by 10% I’ll be happy. Also am in the process of meeting with my b and c book to try and develop the relationships further because I’ve also started firing some clients because I just dont need the BS anymore



I’m a glass half empty person so some days it seems bleak but by the end of the year if I’ve brought in new clients and substantial assets I’ll be happy. Then the vicious cycle starts again in january next year



Jan 16, 2010 1:19 pm

[quote=BigKahuna][quote=Gaddock]

Again with the fag talk. What's up with that piker? Do you answer everything with fag talk?

[/quote]     Hello again rookie,   Still no dice queer boy   Again, you are a liar and a phony.......I don't believe a word you say rookie. Ask me anything about PIM, qualifications, how much to charge, how to trade, I don't care I am legit and can prove it. You are a LOSER and a HOMO!!!!![/quote]   More fag talk from mrs. piker    are you developmentally retarded? Are you that freak that runs that other BBS that claimed he was a huge producer but didn't have a license? Is that you Brent?
Jan 16, 2010 1:55 pm

[quote=NY Guy]



Lost a 1.5 million dollar client today and I’m still not sure why after speaking to him. This happens sometimes. he was a client for 15 years so it gets to you sometimes.





[/quote]



This is the worst part of this MF biz.   I hate it.



After many years of trying to deal with this, to not take it personal, to understand that sometimes its not fair. It still sucks.



I have been very lucky and have a great business. No one client really is THAT important in my book. I still kills me.



Honestly, there is not ONE GD day in this business that I dont have these deep down fear that a dreaded dear john ACAT message or email comes.



It blows

Jan 16, 2010 1:58 pm

Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?
Jan 18, 2010 4:29 pm

[quote=Gaddock]Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]   Hi rookie,   Stop PM'ing me queerboy. SERIOUSLY. Don't worry about production new guy, but seriously quit PM'ing me!! Oh ya........HOMO!!!!!
Jan 18, 2010 5:24 pm

[quote=BigKahuna][quote=Gaddock]Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]   Hi rookie,   Stop PM'ing me queerboy. SERIOUSLY. Don't worry about production new guy, but seriously quit PM'ing me!! Oh ya........HOMO!!!!! [/quote]   More fag talk from the piker he he.   You sure are fascinated by me aren't you. A good percentage of your posts are chasing me around saying things a 12 year old would say. I told you I would lead you around and rattle your cage for cheap thrills but I never though it would be so easy as to become a bore.   Looks like I own you ...     The price tag was cheaper than your mother.
Jan 18, 2010 7:20 pm

[quote=Gaddock] Shania,

Your production numbers leave me in awe. I know it’s totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]



make fee based number one goal (leverage)



do FA managed only (pim,pmp,pspm,pia,gpm etc.)

buck stops with you

clients tied to YOU



always do what you would do for your momma (gross WILL come)

discount with a goal of keeping people till they die



lower clients expectations.

dont sell returns



TRAIN CLIENTS TO FOCUS LONG TERM

train clients to stay out

dont meet quarterly

dont talk about returns

dont brag when things good (do the reverse)

have a good allocation for each person

do everything you can to keep them on track in their plan when stuff gets rough (mar)

manage cap gains



its a marathon.    



beating the risk free rate of return over many years is not easy
Jan 18, 2010 7:35 pm

[quote=Shania Twain] [quote=Gaddock] Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]

make fee based number one goal (leverage)

do FA managed only (pim,pmp,pspm,pia,gpm etc.)
buck stops with you
clients tied to YOU

always do what you would do for your momma (gross WILL come)
discount with a goal of keeping people till they die

lower clients expectations.
dont sell returns

TRAIN CLIENTS TO FOCUS LONG TERM
train clients to stay out
dont meet quarterly
dont talk about returns
dont brag when things good (do the reverse)
have a good allocation for each person
do everything you can to keep them on track in their plan when stuff gets rough (mar)
manage cap gains

its a marathon.    

beating the risk free rate of return over many years is not easy [/quote]   That sounds like a double dip of wisdom to me.   Thanks for your thoughts.
Jan 19, 2010 3:30 am
AGEMAN:

train clients to stay out --Shania, what did you mean by this??



picking stocks, following market, giving their input, blah blah.
Train them to trust you and trust your plan. tell them their job is to live their lives.

Its hard enough to make money and be successful in the markets   with totally clear vision. Its almost impossible if you have the fear, greed etc etc of the client in the mix. try to set the stage early in the relationship. that you are in charge. that you make the decisions.

What are you going to do with my XYZ?
blah blah blah.
can you send me something on ABC?
blah blah blah

you will just get mired down with stuff like this. Your judgement will be clouded trying to figure out what he/she wants etc.

Its not easy.
it takes balls.
I'm not saying being a d***, I mean setting the relationship with the best chance of success for 30 years.

Would you ask your doctor to send you something on the stent he is putting in?
or give him your MF opinion?   


its hard early in relationship because they can get blown away with confirms etc. you have to stand firm that your in charge.
It takes time for them to learn and be trained.
You will lose the know-it-alls or more hands on people.
in the long run...it's worth it.
and it can be done

The people who do the best in the market (even after this horrible 10 years) are the people FARTHEST away from the ultimate paradox of investing:

"market lows are put in when you FEEL the worst and tops are put in when things look great".

(look at REAL returns on no-load funds.   The timers are always wrong).

Pick your own names. learn the market.   have your own plan.
and believe in it.   
ITS NOT THAT HARD.
you will be much better at it then you think and there are so many ways to develop a plan that will work.
there is NO magic bullet out there.   
The geniuses of the 90's got stupid in 2002-2003. Same thing in 2008.   

proper allocation, staying the course, diversification-thats what beats the risk free rate of return.

look at some of the Einsteins out there that ......Bill miller, dodge and Cox, David Dreman, ken heebner etc etc that got really crushed in this melt down.

no one has a magic bullet-

Make sure asset alloctations are inline and then stick to your guns.   set the expectations low. get them to commit to your plan.

I started using managers back in the day. the problem is its not YOU and the 50 BPs is too much to price stuff right for long haul.   
Jan 19, 2010 3:56 am

The article takes one segment of advisors (major wirehouse) and applies it to the entire profession.  I don't share this negativity at all.  I took a paycut from 2007 to 2008 and again last year, but expect a substantial raise this year.  Activity is very good...new assets are coming, the book is mostly annuitized and with assets up 40% from a year ago, I expect a helluva year, even though I foresee some turbulence in the 2nd half.  I'm within $2 million of my all-time high in assets, so I don't feel the gloom at all.  I had two clients leave last year.  Both of them I assisted out the door and replaced with better clients and more assets.  Bad markets do two things that are good for our industry.  One - it weeds out the pikers and pretenders and leaves more for the survivors.  Two - it helps advisors shed clients that are not well-suited to market-based investing.  Everyone thinks their risk tolerance is high when times are good.  Last year, I found out I made a couple of mistakes in assessing risk tolerance.  The parting was for the most part friendly and I sure don't miss the nearly daily frantic phone calls, so in the end, the quality of my book is much higher than it was at it's peak in 2007.

All in all, I don't feel anything similar to the sentiment in the article...it's all good here in indyland.
Jan 19, 2010 5:36 am

[quote=iceco1d]Seriously Kahuna,

  Let it go.  It's getting old.  [/quote]   This LOSER really is PM'ing me. Everytime I log on this asshole has a new message!!!!! It's annoying.
Jan 19, 2010 5:38 am

[quote=Gaddock][quote=BigKahuna][quote=Gaddock]Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]   Hi rookie,   Stop PM'ing me queerboy. SERIOUSLY. Don't worry about production new guy, but seriously quit PM'ing me!! Oh ya........HOMO!!!!! [/quote]   More fag talk from the piker he he.   You sure are fascinated by me aren't you. A good percentage of your posts are chasing me around saying things a 12 year old would say. I told you I would lead you around and rattle your cage for cheap thrills but I never though it would be so easy as to become a bore.   Looks like I own you ...     The price tag was cheaper than your mother.[/quote]     LOSER LIAR
HOMO
Jan 19, 2010 1:20 pm

yup, it could be a tough year. i’m gonna prospect like crazy. i lost a 640k account last week b/c the clients grandson just got into the business. ouch. it’s his second year, and he works for schwab. what a f***in’ insult. i’ve done so well by this client, too. you just can’t compete with blood.



btw, the entire portfolio is AA munis. this kid’s gonna blow the whole thing out and buy mutual funds…what a joke. the client has agreed to send me duplicate statements though, so it’ll be interesting to see what schwab boy does.

Jan 19, 2010 10:14 pm

[quote=BigKahuna][quote=iceco1d]Seriously Kahuna,

  Let it go.  It's getting old.  [/quote]   This LOSER really is PM'ing me. Everytime I log on this asshole has a new message!!!!! It's annoying.[/quote]   Still fascinated by me my little Monkey drone. 11:38PM ??? REALLY?? The last thing you do before bed is post about me?? LOLOL Keep me on your mind and dont post anything  unless it's about me. Do you dream about me my little drone?   After all I do own you.   PMing you? I'm impressed my little drone is using independent thought to try and bait me. To bad it's the most obtuse troll ever concocted. Just stick to what I tell you drone boy.
Jan 19, 2010 10:18 pm

[quote=BigKahuna][quote=Gaddock][quote=BigKahuna][quote=Gaddock]Shania,

Your production numbers leave me in awe. I know it's totally none of my (our) business but what kind of AUM would one typically need to have such numbers?[/quote]   Hi rookie,   Stop PM'ing me queerboy. SERIOUSLY. Don't worry about production new guy, but seriously quit PM'ing me!! Oh ya........HOMO!!!!! [/quote]   More fag talk from the piker he he.   You sure are fascinated by me aren't you. A good percentage of your posts are chasing me around saying things a 12 year old would say. I told you I would lead you around and rattle your cage for cheap thrills but I never though it would be so easy as to become a bore.   Looks like I own you ...     The price tag was cheaper than your mother.[/quote]     LOSER LIAR
HOMO[/quote]   Ahhhhh yes my little drone is still doing what he's told. Run along now slave boy and obsess until you muster up some more 12 year old insults. It's your job my drone.   DO WHAT YOU'RE TOLD   LOLOLOLOLOLOLOLOLOL