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Pepper View Drop Down
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    Posted: Mar/07/2018 at 3:12pm
10 year FA, wirehouse advisor, solo practice
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Pepper View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 3:18pm
Looking for advice and tips on making a possible change to new firm.
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Moraen View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 3:43pm
welcome. are you looking at staying in the wirehouse world, or going independent? 
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 3:46pm
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 3:55pm
Originally posted by Pepper Pepper wrote:

I am looking at staying in a wirehouse/regional broker dealer. Don’t want the headaches of going Indy...at least not yet

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 4:13pm
Yes that pretty much describes me
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 4:16pm
Originally posted by Pepper Pepper wrote:

Yes that pretty much describes me

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 4:35pm
Any idea which forms generally have the highest upfronts? Let’s say for 50mil fee based?
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 4:36pm
Wells I would think
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missionshooter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 5:45pm
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 7:07pm
Leaving Wells
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 7:07pm
Originally posted by bc2051 bc2051 wrote:

Wells I would think

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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 8:23pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Crimson Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 8:27pm
Remember what they give you with one hand is taken away with the other.
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Pepper View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 10:08pm
Explain?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 10:15pm
Originally posted by Pepper Pepper wrote:

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?

AMP employee channel definitely offers more than RJ, but RJ is a much better firm.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Mar/07/2018 at 10:56pm
Originally posted by Pepper Pepper wrote:

Explain?
Riversource much?
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Mar/08/2018 at 7:28am
Originally posted by Iamlegend Iamlegend wrote:

Originally posted by Pepper Pepper wrote:

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?

AMP employee channel definitely offers more than RJ, but RJ is a much better firm.

4 months ago they offered me 125% upfront.
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Pepper View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pepper Quote  Post ReplyReply Direct Link To This Post Posted: Mar/08/2018 at 2:29pm
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote llcoolj Quote  Post ReplyReply Direct Link To This Post Posted: Mar/08/2018 at 6:21pm
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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