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CFLRS View Drop Down
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    Posted: Nov/07/2020 at 9:58pm
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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Nov/07/2020 at 10:55pm
In first.
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
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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Nov/08/2020 at 8:09pm
I hate you now Luv. Broke my steak.

How much AUM?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CFLRS Quote  Post ReplyReply Direct Link To This Post Posted: Nov/08/2020 at 11:02pm
$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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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 9:24am
What niche?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CFLRS Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 9:43am
I'd rather not say.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 10:19am
Annuities are bad Ken Fisher told me so.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 10:50am
Originally posted by CFLRS CFLRS wrote:

I'd rather not say.

What type of niche is it?
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 15,322
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wet_Blanket Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 11:25am
Originally posted by luvindy luvindy wrote:

Originally posted by CFLRS CFLRS wrote:

I'd rather not say.

What type of niche is it?
The secret kind.
September 23, 2020

Moraen: Book it. Trump wins by a huge margin.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CFLRS Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 12:41pm
Originally posted by missionshooter missionshooter wrote:

Annuities are bad Ken Fisher told me so.

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! LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote advisorman Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 1:00pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 1:27pm
Originally posted by advisorman advisorman wrote:

Glad you didn’t share. These guys on here are really tricky and will find out so you won’t joy your goals!

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote WarPig Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 1:32pm
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Nov/09/2020 at 1:35pm
one of my clients at Jones' was a stripper.
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

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