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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Posted: Mar/07/2018 at 3:12pm |
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10 year FA, wirehouse advisor, solo practice
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Looking for advice and tips on making a possible change to new firm.
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Moraen
Admin Group Resident Sage Joined: Mar/09/2010 Status: Offline Points: 30786 |
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welcome. are you looking at staying in the wirehouse world, or going independent?
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I come in peace. I didn’t bring artillery. But I’m pleading with you, with tears in my eyes: If you fuck with me, I’ll kill you all. - General James Mattis
Fiduciary as Fuck - iMo |
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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I am looking at staying in a wirehouse/regional broker dealer. Don’t want the headaches of going Indy...at least not yet
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Hacksaw
Platinum Member Joined: Mar/27/2010 Status: Offline Points: 31478 |
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I would suggest expressing what you view the "headaches" to be. Some are overblown. There are people who just want to turn on and turn off the light, and make $$$, not worrying about what they are giving up for that peace of mind. That might be you.
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Yes that pretty much describes me
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Hacksaw
Platinum Member Joined: Mar/27/2010 Status: Offline Points: 31478 |
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Then take the biggest check for smallest handcuffs. Have a contract lawyer look over the offer because of all this crap with the broker protocol BS going around. Find an office with some old guys so you can inherit clients. Prepare your clients now by making sure they are working with you, vs the firm.
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Any idea which forms generally have the highest upfronts? Let’s say for 50mil fee based?
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Guests
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Wells I would think
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missionshooter
Senior Member Joined: Feb/12/2014 Status: Offline Points: 6136 |
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What would piss me off about a wirehouse is the payout grid keeps going down year after year from what i hear. F that
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Leaving Wells
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Iamlegend
Platinum Member Joined: Mar/09/2010 Status: Offline Points: 22532 |
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Which firm are you with now? WFA has big deals now. If you aren’t at Wells and want to know more, you can PM me or ask on here. ML still has big deals even though they say they aren’t recruiting actively, they still are. RJ employee channel has deals. They won’t tell you what their deals are until you jump through a lot of hoops and they want you to do a home office visit. Stifel has deals but they aren’t that great. Not sure about RBC or any of the other firms. |
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Met with ML and they no longer do upfronts but instead offer a salary the first year as you transfer your book. Ameriprise and RJ are in the running. Like RJ’s culture but I sense Ameriprise will offer a higher upfront. Thoughts?
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Crimson
Senior Member King of the Wicker People Joined: Feb/03/2013 Status: Offline Points: 2057 |
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Remember what they give you with one hand is taken away with the other.
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Explain?
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Iamlegend
Platinum Member Joined: Mar/09/2010 Status: Offline Points: 22532 |
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AMP employee channel definitely offers more than RJ, but RJ is a much better firm. |
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PEACH_cm
Senior Member Joined: Jan/16/2013 Status: Offline Points: 7184 |
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Iamlegend
Platinum Member Joined: Mar/09/2010 Status: Offline Points: 22532 |
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4 months ago they offered me 125% upfront. |
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Pepper
Greenhorns Joined: Mar/07/2018 Status: Offline Points: 14 |
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Will be getting official offers from AMP and RJ in the next few days. Curious what makes RJ better than AMP? Payouts?
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llcoolj
Member Joined: Jun/19/2015 Status: Offline Points: 184 |
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I am not familiar with AMP too much, but RJ has a good platform and they have a great back-office. They don't have riversource, which is a plus. I feel RJ has a better reputation, at least in my area. That's my 2 cents.
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