New Member and New Company

Welcome to the board.  Slick website.

Thanks Guys!  Appreciate the support!  Looking forward to more disucssions.

Welcome...I was surprised to see you're not the bald guy.

Edited by City1134 - Mar/21/2014 at 10:02am

Ha!  I was wondering if people were going to think that.  And no the lady is not my wife either!  Just marketing videos.  I wrote the script and had a professional read it.  Much better then spending $500 on equipment and weeks trying to learn how to use it and speak well on camera.  I'm a big fan of outsourcing when I can.

Thanks!  I see you were checking out my blog.  And while yes, I agree with your premise about objectivity, we actually do bill on outside accounts (if we are managing them).  The issue comes with actually billing.  You cannot bill the outside accounts directly, so you need to have a taxable brokerage account set up and the client has to actively put money in to just pay the fees.  As far as managing, the clients provide a user name and login.  There have been many discussions on whether or not this denotes custody.  I am operating under the premise that it does not.

You are correct.  The ability to move money is a key point. Here is a good article about this...http://www.fa-mag.com/news/advisors-want-clarity-on-sec-custody-complaints-13534.html  The Comments are good too.

I think marketing your value proposition by fee is a mistake.  People will shop the price, not the value.  Just my 2 cents.  I know others will say diffierently and that you may build faster than if you actually tried to be different.  But if you're making the fee be everything your about, then people will leave when they don't see the performance they want or find someone else with a lower fee.

B24 wrote: GreatPlans wrote: I think marketing your value proposition by fee is a mistake.  People will shop the price, not the value.  Just my 2 cents.  I know others will say diffierently and that you may build faster than if you actually tried to be different.  But if you're making the fee be everything your about, then people will leave when they don't see the performance they want or find someone else with a lower fee. Welcome. GP, this is the new "thing" among all these young, newly minted RIA's. They spend most of their energy bashing the entire industry and talking about how being fee-only "differentiates" them somehow. I just think it's bad for our industry when a large number of industry "professionals" use this tactic as a cornerstone of their value proposition and marketing plan.

Edited by GreatPlans - Mar/21/2014 at 4:02pm

helado wrote: Fuck this guy.  Go work at Vanguard buddy.  He will be out of business in a year anyway once his blog failsto net him any clients.

Don't be mad bro. Just because his "back door strategies" posts were different than what you were looking for doesn't mean you have to get all militant.

Sportsfreak wrote: helado wrote: Fuck this guy.  Go work at Vanguard buddy.  He will be out of business in a year anyway once his blog failsto net him any clients. I see that the Panini has not tempered your enthusiasm for being the asshole that you are. (Although I agree with your (and b24 and GP's) premise)

Quit posting from your fucking lemon party.