Skip navigation

Going Independent, need advice

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Dec 6, 2006 7:53 pm

Been reading for a few months, first time post and looking for advice.

I am currently a Seg 3 at EJ and for various reasons think I will be leaving to go independent within 1 year.  Below are my specifics, any advice will be appreciated.

Can sell was 2 yrs ago.  Took over office of 10m, currently at 20m.  I will take 8-14.  (Hopefully 14)

I have one year and 25k left on intial 3 yr contract which I believe Jones will go after.  Best guess is that I will have to settle for half of that.   

Gross income for 06 is 46k less 8k health care (premiums and out of pocket) less 5k office expenses.  So I made 33k before taxes.  I was making 60k at old job.  I am a CPA and one reason I came is that I was told with 10m in assets that getting to 100k in year 3 would be pretty easy.

Among many, two of the relevant factors for leaving are:

1. To be able to offer tax services both as a revenue source and as a referral source.

2.  I want to be able to share fees for referrals with Attorneys.  I have a close friend who is an Estate Attorney that wants to enter an agreement in addition to a few others I believe would be interested. 

A Raymond James Broker has office space and assistant to share and is offering to let me come with a 15% override on my production. 

My biggest question (among many you can probably infer) from this post is; Should I take the jump now or in a year when my liability to Jones is ended and my assets will be larger to help support the move. 

I estimate I can generat 8-10k in tax revenue the first year with at least 10k growth each future year.

Note:  I am anxious to get started, especially with Tax Season approaching.  I am in my early 30's with a family of four.

Again, thanks in advance for your help.  I will not be able to respond to questions or comments until this evening because I will be back in my office with no access.

Dec 6, 2006 9:45 pm

See my post to this thread under “General”…