Where is the best place to move to if your a large producer?

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Jul 26, 2010 3:36 pm

I have a large book and produce over $1MM, all fee based.  I have never changed firms, been in business 16 years.  I work in a bank, and my book is portable.  My client's needs have surpassed what our bank can provide.  Each of my clients have a minimum of $1 MM with me.

I am interested in some feedback from others that are large producers and their respective experiences.  Thanks.

Jul 26, 2010 4:36 pm

I can think of no better place to move than your own place.  If all of your business is already fee-based; you don't even need a B/D for that type of business.  Setup your own RIA would be my advice just based on your post.

Jul 28, 2010 4:55 pm

Stifel Nicolaus is a great place to work you run your business the way you want to they are there to support you payout is simple 25% on first 8500 then 50% above you get bonuses to your esop above $250,000 above $700,000 you get stock options email me [email protected]

Jul 30, 2010 7:39 pm

Loyal, it depends what is important to you.  Do you want to grow an organization??  Be a lone wolf??  What are your goals?  Do you value support, or simply want the highest payout you can find?  What kind of support do you need?

I would recommend meeting with 5 or 6 firms, then take at least 2 Due Diligence trips to the home office.

At 1mil production, you are in for a handsome transition bonus.  I'm with a large indy BD.....PM me if you want details on my firm.

Good luck!

Aug 3, 2010 7:22 pm

i am with Avalon Partners, great place to work.

They leave you alone to do whats best for your clients and offer tremendous support. Sort of a wirehouse/independant firm. Really a great place for producers who know what they want and need for a business.

Aug 10, 2010 9:28 pm

Loyal,  I agree w/ hograham.  I moved to Stifel w/ a team earlier in the year.  We did well north of $1MM.  We moved 85% within 120 days and are thrilled.  No place is perfect, but we are very happy with our choice.  We investigated every firm out there.  Like you are probably finding out, they all want you and all promise the moon. You have to decide what is important to you.  To us, it was a culture that valued the client as much as I do.  Not because they are a source of revenue, but because they are people.  It was a culture that valued imployees as partners, not slaves.  It was an atmosphere that leaves you alone if you are doing a good job.

Stifel also has the best research on the street (rated #1 by WSJ 3 years in a row) and are getting alot of air time on financial stations because of it.  They have a fantastic fee based program and one of the most innovative approaches to risk management I have seen in a fee based account (the Risk Manager).

PM me if you want more info.  Check out my prior posts.  I'm not a recruiter and have no skin in the game.  Just a begger who found the bread pile and telling others about it.

Aug 31, 2010 10:32 am

Platform match is the key.  Please make sure that your due diligence stays focussed on the future growth of your business and the needs of your clients.  Having 20+ years of sell/buy side experience, I have too many friends that made a move for the wrong reasons and never regained their business levels.  Feel free to contact me at [email protected] - I have facilitated the monetization and movement of more than 100 large producers to majors, regionals, and independents.

Aug 31, 2010 12:24 pm

edward jones

Sep 13, 2010 1:14 pm

would love to help you with your transition please email me your contact info and I will give toy a ring


[email protected]

Sep 13, 2010 1:23 pm

Loyal ... Raymond James might be a good fit for you or even Wells Fargo FiNET or whatever they call it. I'm at a wire but have heard great things about both from peers.