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I got a great fit for the covered call sma 5 mil

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newbieRIA View Drop Down
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    Posted: Sep/14/2021 at 12:33am
I have used this before and I am really happy with that sma.  There customer service is awesome and they take the time to answer any client questions I don’t directly know.  The preforms is on par so far ( short time fram)

The sma charges me .4 and I want to charge the client .4

Do you think on 5 million dollars the all in fee of .8 is too high.  Ideally I would like him in one of my models but he is looking for 5 percent cash flow withdrawing option premium and dividends.

Kid is 37 and is a garbage business owner.  Makes bank.

I would like to charge him .5 or .6 but then I don’t really make anything enless I put him in my models but this sma is perfect for what he is looking to accomplish.

……….
……..

Guess who I am possibly stealing the relationship with.  Edward Jones baby, feels fucking great.  


Edited by newbieRIA - Sep/14/2021 at 12:39am
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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: Sep/14/2021 at 7:37am
If .8 is lower than what he is paying now it should be fine. 
If he makes bank, why is he withdrawing 5% at his age?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 8:09am
Originally posted by Iamlegend Iamlegend wrote:

If .8 is lower than what he is paying now it should be fine. 
If he makes bank, why is he withdrawing 5% at his age?

This. 

$250k is a pretty big nut for someone “making bank”. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 8:53am
Be careful Newbie. I used to work down in your neck of the woods for a while in my previous career. I did a lot of work for a family that owned a trash hauling business. And a construction business. And real estate development. And let's just say that they always got the contracts that they wanted. LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 11:53am
Originally posted by B24 B24 wrote:

Be careful Newbie. I used to work down in your neck of the woods for a while in my previous career. I did a lot of work for a family that owned a trash hauling business. And a construction business. And real estate development. And let's just say that they always got the contracts that they wanted. LOL

I think that is what is going on.  The guy said he had some huge contracts and that is going away.  He doesn’t want to lower his income since he got used to it.  He said more contracts will eventually come.  I have a lot of questions before I sign him up.  Is there a liability on me if I take this client.  As of right now, all I know is he is in waste management.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 11:55am
Originally posted by newbieRIA newbieRIA wrote:

Originally posted by B24 B24 wrote:

Be careful Newbie. I used to work down in your neck of the woods for a while in my previous career. I did a lot of work for a family that owned a trash hauling business. And a construction business. And real estate development. And let's just say that they always got the contracts that they wanted. LOL

I think that is what is going on.  The guy said he had some huge contracts and that is going away.  He doesn’t want to lower his income since he got used to it.  He said more contracts will eventually come.  I have a lot of questions before I sign him up.  Is there a liability on me if I take this client.  As of right now, all I know is he is in waste management.

Yes. If you suspect money laundering or any shit like that, you can't take him on.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 11:58am
Ok I don’t think anything like that is going on yet.  I just know waste management in my area is full of corruption.  I’ll vet him.  Any way to vet for aml beside the custodian check? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 11:59am
And if it comes down the line that I wasn’t aware of money laundering but this guy is doing something shady what happens 5 years from now if he gets in trouble.  If I wasn’t aware, do I still get in trouble.

The only reason I ask is like b24 said , waste management has a history of this stuff but I am currently not aware of anything going on.


Edited by newbieRIA - Sep/14/2021 at 12:02pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 12:08pm
Originally posted by newbieRIA newbieRIA wrote:

And if it comes down the line that I wasn’t aware of money laundering but this guy is doing something shady what happens 5 years from now if he gets in trouble.  If I wasn’t aware, do I still get in trouble.

The only reason I ask is like b24 said , waste management has a history of this stuff but I am currently not aware of anything going on.

If you had no reason to suspect, then I think it's fine. But like my friend the lawyer says, if the government wants to get you, they'll get you.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote LA Broker Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 2:01pm
Write the calls yourself and save the .4, that’s a lot of money to pay a 3rd party to do something easy.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 2:13pm
Originally posted by newbieRIA newbieRIA wrote:

Ok I don’t think anything like that is going on yet.  I just know waste management in my area is full of corruption.  I’ll vet him.  Any way to vet for aml beside the custodian check? 

Just do some Googling. Make sure he's never been in trouble. Make sure his business appears legit. Document it internally.

I was half joking, actually. I really did work for those people (not directly, but in a management subcontractor capacity). And I'm not saying they actually laundered money. But they definitely got the contracts they wanted (lots of municipal contracts Embarrassed). Although, and this is 100% true, there were certain major expenditures that were paid for in cash. As in green money cash.

If the guy seems real honest about his business, and everything seems legit, then you likely have nothing to worry about. But if he starts moving money in and out quickly, that should shoot up red flags.

But honestly, I was sort of joking. The trash hauling industry and your area of the country tend to find corruption. LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 2:41pm
I'll do my due dilligence but I don't want to turn away a 25k a year client if I don't have too.  So far nothing has come up.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 4:12pm
Maybe you can teach this guy blackjack to clean that $.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 4:28pm
I never got that, someone please tell me how gambling cleans dirty money.

you still have to pay tax on gambling winnings and its ultra suspicious to declare alot of gambling winnings with out proof.  Just going to the casino doesn't wash the money with the casino procedures in place.  I.E. Deposit 100k in the cage, lose 20k and get a check for 80k.  Casinos don't let you do this.  You have to pull out your same bills you deposited and only your winnings you can request a check.

Deposit 30k in 20's in front money, win 5k , so you have 35k in chips.  The casino is going to give you back your exact 30k in 20s plus a clean 5k.


You can bet opposite to wash money like someone bets player someone bets banker in baccarat.  To make one person a loser and one person a winner.  But this is complete obvious and to do anthing more then chump change is going to get flagged.


#Crime doesn't pay. 
#Pay your taxes
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 4:46pm
Very interesting. Didn't realize that. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote LA Broker Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 5:06pm
They used a casino to clean money on Ozark, so it must work.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 5:52pm
Originally posted by LA Broker LA Broker wrote:

They used a casino to clean money on Ozark, so it must work.
I'm sure they took some liberties and it was the casino doing the cleaning.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newbieRIA Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 6:04pm
Originally posted by LA Broker LA Broker wrote:

They used a casino to clean money on Ozark, so it must work.


They owned the casino.  Big different.  You set up beards ( fake gamblers) and give them dirty money and they purposely lose at your casino.  Your casino now shows extra revenue .

They weren’t some small time gamblers trying to wash the money, they where the casino.  A lot of the laundering in the casino is when the dirty money people are part owners.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 6:32pm
Yeah, it was also a small local casino. This isn't The Venetian.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Sep/14/2021 at 6:43pm
Originally posted by LA Broker LA Broker wrote:

Write the calls yourself and save the .4, that’s a lot of money to pay a 3rd party to do something easy.

This.
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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