Related Posts
Is this true?
Additional Posts in Financial Advisors
Is the cfp as hard as people says it is?
Any Fish who are also musicians?
Golfers: athletes or no?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Someday, young grasshoppa, you will give away your problem clients, your small balance clients, your headaches.....to someone like.....you.
How much annuities and a shares vs fee based?
Yup, former advisor was advising clients to leave me. Awaiting a verdict after a finra arbitration. What a waste of time
I know a guy who inherited a book at a bank. Got a ding to his u-4 for some weird Russian mutual funds and some weird senior bank loans. What was even worse is that he had left that bank and gone independent. And they STILL dinged him because the account was under his name for 6 months.
I’d be very leery of inherited books. I’d go through them with a fine toothed comb. On the surface it seems great! All these new contacts with established accounts! But let’s face it. Most advisors aren’t that good. Or ethical. Or even have a clue
There will be some nuggets. Remember the 80/20 rule.
Should be fine.... but please double double check any annuities... I knew a woman who inherited an annuity and later got a ding on her U-4 because it was unsuitable
Pain in the ass. Like above, a few are good, but the rest seem to be problem children.
What’s the details of the transaction ie book make up, purchase price, avg age of clients etc?
☝️wouldn’t have paid him 💩 after I found that out