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Leaving the wire

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Gob View Drop Down
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Joined: Jan/19/2018
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gob Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 11:43am
Originally posted by helado helado wrote:


Buy AAPL on margin as a cash surrogate.  😁 


My clients prefer a bitcoin surrogate
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PEACH_cm View Drop Down
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Joined: Jan/16/2013
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 1:09pm
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.

You skipped leg day.

I didn't say re-balancing was a main value.

I just asked what your main value add to your clients is. "I manage money" doesn't sound like much of a differentiator.

How do you manage it? I'm seriously asking. I'm curious what you say to clients/prospects
global top-down analysis to determine which individual companies will be the biggest winners/loser... emphasis on using deravatives for leverage and risk managment all while maintaining the goal of preserving capital
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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: Jan/21/2018 at 1:31pm
Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.

You skipped leg day.

I didn't say re-balancing was a main value.

I just asked what your main value add to your clients is. "I manage money" doesn't sound like much of a differentiator.

How do you manage it? I'm seriously asking. I'm curious what you say to clients/prospects
global top-down analysis to determine which individual companies will be the biggest winners/loser... emphasis on using deravatives for leverage and risk managment all while maintaining the goal of preserving capital

This sounds really awesome especially to an uneducated client, but serious question - the best money managers in the world can't beat the index without taking on way more risk, so why would anyone believe you can do it?  Same for the other hot shot stock pickers here who focus on value stocks with dividends as Growth is crushing it.  Let's be honest these companies have incredible resources like boots on the ground and you're a 30 something in GA that spends a lot of time on the golf course.  Naturally, you can beat the index by taking a large position in Apple or Amazon, but you're taking way more risk.  I'm not trying to throw shade btw.....valid question
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 2:06pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.

You skipped leg day.

I didn't say re-balancing was a main value.

I just asked what your main value add to your clients is. "I manage money" doesn't sound like much of a differentiator.

How do you manage it? I'm seriously asking. I'm curious what you say to clients/prospects
global top-down analysis to determine which individual companies will be the biggest winners/loser... emphasis on using deravatives for leverage and risk managment all while maintaining the goal of preserving capital

This sounds really awesome especially to an uneducated client, but serious question - the best money managers in the world can't beat the index without taking on way more risk, so why would anyone believe you can do it?  Same for the other hot shot stock pickers here who focus on value stocks with dividends as Growth is crushing it.  Let's be honest these companies have incredible resources like boots on the ground and you're a 30 something in GA that spends a lot of time on the golf course.  Naturally, you can beat the index by taking a large position in Apple or Amazon, but you're taking way more risk.  I'm not trying to throw shade btw.....valid question
well I have an autided track record that shows what I have done. Everyone has access to the same information it's just how you use it.
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 2:36pm
Peach, so you sell performance. Am I reading that correctly?
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 6:08pm
Originally posted by Fitness1983 Fitness1983 wrote:

Peach, so you sell performance. Am I reading that correctly?
no the only thing I sell is myself
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D.H.K. View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 6:24pm
You WHORE!  Wink
Originally posted by SometimesNowhere SometimesNowhere wrote:

Ranking careers in order of degeneracy:

1) Real estate
2) Insurance sales
3) Financial sales
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 6:36pm
Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Peach, so you sell performance. Am I reading that correctly?
no the only thing I sell is myself

Sure. But that's not what the specific language you strung together above REALLY conveys. All I really saw of note is you pick winners and losers
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 7:17pm
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Peach, so you sell performance. Am I reading that correctly?
no the only thing I sell is myself

Sure. But that's not what the specific language you strung together above REALLY conveys. All I really saw of note is you pick winners and losers
You asked how I manage money. That was my answer.
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3okirb View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 3okirb Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 7:43pm
You could just ask a question and they'll tell you what they want from you. 
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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: Jan/22/2018 at 4:27pm
Originally posted by Gob Gob wrote:

Hi,

My partner and I are looking at leaving our current firm for RIA land and I’m looking to get some advice.

We are currently getting recruited by an ria. Their pitch essentially is to take care of all the admin stuff, help with the transitioning, and provide a top tier tech suite. They would take 15 bips to provide this service.

My first question is about tech. I’m concerned with finding tech that works well together. What are you guys using for crm, rebalancing, etc that Work together?

How long would you say it takes to plan an exit if we did it all ourselves instead of going to an already established RIA?

Back to the original questions:

15bps is kinda steep if that's what all they are offering. If you are at a wire with $100mm I would guess you have a dedicated assistant.  I would imagine you could pay her less than $150k to handle the same admin.  The new custodian will usually help with the "transition", and everyone says they have "top-tier" tech.  

Other things to consider:
Are they providing compliance? 
Are they providing a buy/sell if something happened to you?
Do they have a "Brand"?

I would suggest figuring out what you need when it comes to tech.  You can go hog-wild and spend a ton, or you can "chief" it and use barebones that gives you what you need.  Talking to an RIA custodian to see what they have/suggest would be the best place to start.

Hopefully this doesn't end up you:





Edited by Hacksaw - Jan/22/2018 at 4:28pm
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