Metaphors...Has Finra/SEC gone bonkers?

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Apr 5, 2011 10:30 pm

Guys like that, you wouldn't need many clients, could work a couple of hours a week. I read that even the average prospect with $10 million has several advisors - it would be pretty cool to join somewhere like Cypress Pointe and prospect there.

Apr 6, 2011 2:11 pm

Did anyone actually think that Horsesmouth post was real?  C'mon.

I can understand believing that FINRA/SEC was trying to cut back on vague "lingo" in industry marketing material, but let's get real.  Hopefully ou were all just bullshitting each other.  Otherwise, I've got this awesome new Financial Advisor Marketing program to sell you.  It will bring you a flood of new prospects.  They will be literally banging down your door!

Apr 6, 2011 2:20 pm

I dunno, things are getting pretty scary out there.

Question, B, : if you are an RIA (under 100m), are you sending out quarterly or monthly billling statements?

Apr 6, 2011 4:52 pm

Yes, I send out a billing invoice/statement every time I process fees, which is quarterly.  I have been doing that from day 1.  I thought it was a requirement to send the invoice prior to processing the fees.  My custodian has a great process for it.  It's all automated.  They process the fees, and they also generate invoices.  They also e-mail them to clients and stick the invoice in their online account.  For th few clients that don't use e-mail for their accounts, I send them by regular mail (just print them out and mail them).

My whole process is about 15 minutes from start to finish for fee billings.  Very automated.

Thank you TradePMR!