Howdy and need input please!

Correct.  But why would you fee-base yourself?

LOL.  So you pay 25 bps on a couple hundred thousand dollars instead of $50/trade?  Sounds like a good idea. 

Woah first of all no you don't have to use their models you can create a custom model. The fee based platform fee for advisors is pretty expensive though 65bps i believe and no ticket charges or program administration fee.

Also you get a whopping 2 free stock trades a year and unlimited a share nav trades with no ticket charges. Not sure why you would use the fee based platform unless you day traded etfs as an advisor for your own account.

Also they will allow you to keep your e trade or Scott rate account you just have to report statements and they don't encourage it.

Associate trades are $30, not $50. 

No, I understand

Hijacked! Wow, funny me being the one who calls that out. Since I'm usually the one that starts the hijack.

That said, @the planning process naysayers, I always utilize the planning process and use that to determine what the best solutions are for my clients. Even though I'm indie light.

helado wrote: There are phrases I love to call bullshit on when I hear them from FAs:  1.  ..."the planning process..." (see previous post). 2.  ..."so we can help people..."  (ok, fuck you, no one in the history of financial services ever joined this industry to help anyone, they joined because they wanted to make a lot of money, and this is as close to Wall Street as they'll probably ever get.  If you want to "help people" join the effing Peace Corps or donate your weekends to Salvation Army.  If you want to sell people life insurance, mutual funds, and wrap accounts, become a financial advisor.  But don't give me this crock of shit that you want to "help people."  STFU.   And STFU with the "planning process."  At least to us (I don't care what you say in public).  By planning process, you simply mean, "I have a conversation to figure out what I'm most likely able to sell this person, as opposed to just selling them whatever bond is in inventory right now, or what proprietary mutual fund or annuity pays me the most."   Don't worry NewMgr, there is a silver lining in my post for you.  See the first sentence, and when I said, "when I hear this from FAs" meaning I consider you a real FA (not a quasi FA like 90% of the people at your firm).  So kudos to you. PS:  If you send me pics of your thong, I'll bump you up another run on my ladder.   All the best, "The Resource"

Could you be any more of a pompous, self-righteous, blow hard?! I honestly had no idea how much money people in this business made when I decided to look into it. I knew I had an interest in investing and I liked being able to help people (I volunteer and do mission trips too). When I found out how much, I was honestly astounded. I didn't get into this for the money, I honestly wanted to do it because I enjoy it, and felt it was a way for me to use the talents I was given to help others and to be able to provide for my family.

I always thought one of the many shitty things about this industry is that we have to trade using our own damn company basically at whatever rate they want to charge instead of going through a discount broker.

NewMgr wrote: SometimesNowhere wrote: I always thought one of the many shitty things about this industry is that we have to trade using our own damn company basically at whatever rate they want to charge instead of going through a discount broker. Go Indie then. You can choose your discount broker (TD, Schwab...).

That's very reasonable. I'll just change the way I do business so I can get cheaper trades. Good advice.

NewMgr wrote: Hacksaw wrote: helado wrote: There are phrases I love to call bullshit on when I hear them from FAs:  1.  ..."the planning process..." (see previous post). 2.  ..."so we can help people..."  (ok, fuck you, no one in the history of financial services ever joined this industry to help anyone, they joined because they wanted to make a lot of money, and this is as close to Wall Street as they'll probably ever get.  If you want to "help people" join the effing Peace Corps or donate your weekends to Salvation Army.  If you want to sell people life insurance, mutual funds, and wrap accounts, become a financial advisor.  But don't give me this crock of shit that you want to "help people."  STFU.   And STFU with the "planning process."  At least to us (I don't care what you say in public).  By planning process, you simply mean, "I have a conversation to figure out what I'm most likely able to sell this person, as opposed to just selling them whatever bond is in inventory right now, or what proprietary mutual fund or annuity pays me the most."   Don't worry NewMgr, there is a silver lining in my post for you.  See the first sentence, and when I said, "when I hear this from FAs" meaning I consider you a real FA (not a quasi FA like 90% of the people at your firm).  So kudos to you. PS:  If you send me pics of your thong, I'll bump you up another run on my ladder.   All the best, "The Resource" Could you be any more of a pompous, self-righteous, blow hard?! I honestly had no idea how much money people in this business made when I decided to look into it. I knew I had an interest in investing and I liked being able to help people (I volunteer and do mission trips too). When I found out how much, I was honestly astounded. I didn't get into this for the money, I honestly wanted to do it because I enjoy it, and felt it was a way for me to use the talents I was given to help others and to be able to provide for my family. Make no mistake, I am an FA because it's the best paying and easiest job in the industry. And, I have experience in other lesser paying PITA jobs in this industry. That said, I do happen to want to help people and volunteer for FPA's pro bono initiatives like Money Smart Week. So, now Helado, what have you got???

I never said you can't do well for your clients, strive to be a "good guy" in a business of sharks, or be happy for clients when they are successful.

What I said, was that isn't the REASON people join this industry, and I stand by that 1,000%.  I can't help it that Hacksaw is full of shit and has a sandy vagina. 

Take him for example.  He started at a wire.  There is no way he went on his interview process at a wirehouse and said, "I just want to help people, and I am good a trading."  Those people don't get a second interview. 

Next, there is no way he went through their training program (chock full of sales training and cold calling) and said, "boy oh boy!  I can't wait to HELP PEOPLE!"  No no.  See, because like I said and he fails to acknowledge, all of that is bullshit. 

When a client gives me a hug and tells me they are so much more confident about their retirement now that they found me, I won't deny that I am glad, and wish that every one of my clients would feel that way and have that outcome.  But make no mistake, I (nor Hacksaw, nor anyone else) didn't join this industry, and go through a half decade of shit pay, for shit hours, with ridiculous emotional roller coaster because they wanted to stockpile a collection of "hugs and thank yous."

I did it for the money.  And so did/does Hacksaw.  You may be able to sell that happy horseshit "I just like to help people" to the public, just like you can bang the table with "L share annuities have just the right balance of cost and surrender schedule for my clients" with compliance, but shoot me straight when you're on a board with other FAs. 

You do it for the money and the lifestyle.  You do a good job and like your clients.  But if you were doing this for $40,000 a year (or whatever your old job was paying), you would leave immediately.  Because from top to bottom, the entire financial sector (in fact, EVERY sector), is about the money first.

So Hacksaw, you can keep posting that when you're going through 300 cold calls, day after day after day, and claim you're just thinking "boy oh boy, I hope someone lets me help them today!"  You're full of shit.  You're thinking about a 7 figure wrap account.  You know it, and so do we.


Edited by helado - Jan/11/2014 at 12:04pm