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CFLRS
Senior Member Joined: Nov/07/2020 Status: Offline Points: 1114 |
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Posted: Nov/07/2020 at 9:58pm |
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Hello! I'm fairly new in the industry (5 years), but feel like I'm going in the right direction.
I'm an independent advisor with a small firm that does about 70% annuities / 30% securities. Personally, I do roughly the opposite. I have my series 6, 65 and 7. I do about 70% "managed accounts" under an RIA, using some 3rd party models and some of my own. The other 30% is composed of FIAs and VAs. I'm trying to grow into more of a "portfolio manager". I'm hoping to grow my AUM a little more and then transition to functioning solely as an IAR (under current RIA). I've explored forming my own RIA, but don't think that is the right fit for me. My firm and primary RIA treat me well. The main problem I'm facing, though, is I don't have much in the way of mentorship in portfolio management. Most everyone I know is more interested in selling annuities or just doing basic 3rd party managed AUM, so I'm mostly learning on my own. I hope to use this forum to see what others are doing for their practice, their investments strategies, and their day-to-day operations.
Edited by CFLRS - Nov/07/2020 at 10:50pm |
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luvindy
Moderator Joined: May/17/2010 Status: Offline Points: 25767 |
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In first.
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8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time." Dow 13,090 S&P 1406 5/23/13 UC:Dow 20k before 20% crrectn Dow 15, |
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advisorman
Senior Member Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4246 |
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I hate you now Luv. Broke my steak.
How much AUM? |
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King of sarcasm and speling
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CFLRS
Senior Member Joined: Nov/07/2020 Status: Offline Points: 1114 |
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$5M - My average client has about $300k in investable assets. I did mostly annuity business until the last year or two. The more I've learned, though, the more I'm steering away from annuities. I have about $5M in annuities on trail. I've written about $4M per year for the last 3 years. I was hoping to take a big step forward this year, but with all things considered, I'm happy with my $4M for 2020.
I have a somewhat unique situation in that I have a comfortable little niche, so I don't have to do a lot of marketing/prospecting. I also have another income stream that covers most of my living expenses, so I work part-time, keep my operating expenses low, and generally keep my client base composed of individuals I enjoy working with and genuinely care about. If I can get to $20-25M in AUM in the next few years, I'll probably just coast from there.
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advisorman
Senior Member Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4246 |
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What niche?
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King of sarcasm and speling
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CFLRS
Senior Member Joined: Nov/07/2020 Status: Offline Points: 1114 |
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I'd rather not say.
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missionshooter
Senior Member Joined: Feb/12/2014 Status: Offline Points: 6136 |
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Annuities are bad Ken Fisher told me so.
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luvindy
Moderator Joined: May/17/2010 Status: Offline Points: 25767 |
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What type of niche is it?
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8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time." Dow 13,090 S&P 1406 5/23/13 UC:Dow 20k before 20% crrectn Dow 15, |
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Wet_Blanket
Admin Group Team America (not iMo) Joined: Mar/10/2010 Location: New England Status: Online Points: 43644 |
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The true 🤡 was the Biden voter all along.
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CFLRS
Senior Member Joined: Nov/07/2020 Status: Offline Points: 1114 |
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I'm sure this is a sarcastic statement, but I'm going to reply anyways. I think they are an investment tool that has an appropriate time and place, like any other. But I've started to see firsthand some of the negative aspects of annuities that people are wary of. The other members of my firm have a different client demographic than I do, so I understand why they use them, but they don't fit the needs of most of my clients. My niche is a small one. It pertains to my previous employment/income stream. Recently some other reps/agencies people having been nosing around in it, so I try to keep it under the radar. Once I hit my AUM goal, I'll tell you all about it! |
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advisorman
Senior Member Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4246 |
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Glad you didn’t share. These guys on here are really tricky and will find out so you won’t joy your goals!
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King of sarcasm and speling
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Moraen
Admin Group Resident Sage Joined: Mar/09/2010 Status: Offline Points: 30786 |
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People never want to share their secret mutual funds, their secret niches... And I was totally going to steal that niche.
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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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WarPig
Senior Member Joined: Dec/12/2019 Status: Online Points: 9706 |
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I worked the stripper niche for a bit with another advisor. This was early in my financial advisor career. This is my first time divulging it. I'll let them share more if they want but while it didn't bring in a ton of AUM there were other benefits.
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Moraen
Admin Group Resident Sage Joined: Mar/09/2010 Status: Offline Points: 30786 |
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one of my clients at Jones' was a stripper.
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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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CFLRS
Senior Member Joined: Nov/07/2020 Status: Offline Points: 1114 |
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Haven't visited this board in a few months and no longer can view/post in certain areas. I see that there has been some changes, but can't find specifics on the new requirements to obtain certain permissions. Any help?
Edit: Nevermind, it seems that making the above post has solved the issue. Edited by CFLRS - Mar/09/2021 at 6:25pm |
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missionshooter
Senior Member Joined: Feb/12/2014 Status: Offline Points: 6136 |
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Welcome back. I missed you
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DRCap
Member Joined: Jul/05/2018 Status: Offline Points: 174 |
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posting for access.
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advisorman
Senior Member Joined: Oct/22/2011 Location: Behind you Status: Offline Points: 4246 |
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You have to find the secret niche to gain access to all the forums. I’d rather not tell you direct
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King of sarcasm and speling
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