Client wants to buy individual stocks for his portfolio. Don’t care to manage unfettered stocks from clients that we catch blame when underperforming. What is your response to this client?

like
Posting as :
works at
You are currently posting as works at

For individual stocks I require clients to have a minimum of 200k. ....and I use third-party money managers. If they really want to invest 10k in stocks I send them to Ethan and tell them t to do it themselves..,...

like

Yeah, far too little to make it worth managing and dealing with the headache that comes with it. I simply tell my clients that bring up investing in individual stocks that I have a $1M minimum to manage an account of individual stocks. It’s simply not cost effective to manage $40k. Why do they want to invest in individual stocks? The professional fund managers for the managed accounts have a full time team watching and managing the performance of their funds. What would give them, the client, the ability to outperform them?

My guess is it’s an older client that is stuck in the 1980s or before or someone that doesn’t understand how unreasonable their request is.

Either way, sounds like way too much trouble for $150k.

like

At least they didn't want to buy Bitcoin!

like

E-Trade

likesmart

Which third party managers will manage $200k in individual securities ?

like

Thanks all. Actually talked to my client tonight after sending him an email telling him no. Obviously I had I nice explanation about our fiduciary responsibility, managing the liability etc. Conversation went really well. It’s surprising when you put your foot down and do it quickly how well clients respond to that.

like

Model strategy min 150k @ 65 bps. Private customized portfolios min $300k 80 BP's. Private you can customize percent eaity vs fixed. Individual bonds instead of ETFs etns, tax harvesting, able to exclude certain stck position s etc. Out of NJ. Good shop. Like any good TPAM you need to understand the strategy and appropriately match to the right client situation. Well worth a trip to NJ to do your due diligence.

like

AXA uses ACM a LOT. Alan greesapan is one of their board members. You can tack on your finder's fee as well.

like

E-trade

like

We do the same. E-trade

like

Advisors Capital Management. Individual stocks starting at 150k

like

Me fee starts at 1.2 and goes down depending on assets under management.

like

Third Party money manager out of nj

like

How much money are we talking?

$40k in one of our smallest accounts. 150 aum

To Owner, Financial Advisor 1: what are the fees for that at $150k?

I hope Ethan gets a cut from this convo, (and I mean Ethan!)

What's advisors capital management?

Related Posts

When a client says, “they’re already handling the change management of this work, so no need to scope that part” and they’re referring to a 70-page checklist of tasks...

Post Photo
likefunny

I am the lovable fool in my team 😊

like

I hate working on commission. I am a naturally shy person and approaching guests in our store is intimidating enough, it's even worse when some of my more socially savvy coworkers notice me trying to strike up a conversation with someone and they come in and literally steal my client from me.

like

I’m a new associate working for a well-known defense attorney in my state. On one hand, I’m thankful for the opportunity to learn from one of the best, but he also excoriates and belittles me for my mistakes. Any advice on how much it tolerable? I am here to learn and advance my career but he can be pretty nasty. (My mistakes are no worse than you’d expect a 1st year associate to make, in case you’re all wondering if I’m a major screw-up who deserves it) I leave work feeling a foot tall.

What are some brands with an in-house agency? Looking to make a move to client side.

I'm 6 months old at D! Planning early promotion next year.. counselor and pm both are backing me.. I need to go to India for at least 4 weeks in Dec ... most probably would be rolling off from current project by then .. would this vacation hurt my promotion chances coz of utilization etc?

Hi folks,
New to Nagarro, can someone help with below query?

Once the project is allocated the project code will automatically reflect in SAP portal to fill the timesheet against the same or how is it done?

Also what do you guys fill in notes while filling the timesheet when on bench?

What will be the case if client doesn't like my performance.

Will they release me from there project before contract ends or any action in terms of termination from job will be taken by client or Nagarro.

Just wanted to know, has anyone went through this kind of situation???

like

Has anyone else had a mentor (assigned to them by the Company) who seemed to have it out for you? I mean downright sabotage to make you look bad left and right. I didn’t realize it at first. She was fake friendly, but she was discrete too. Some of the executives thought she was amazing, but I had to clean up her work all the time. She wasn’t above me either on the chain of command. Later I found out she had tried for the exec assistant role and they didn’t choose her, they wanted me instead.

like

SVP group client partner in NYC, Health agency. What do I ask for?

like

I've worked with the client for over 7 months now and he still calls me by my dad's name
What do I do 😭😂

like

Wipro Hi fishers, need a suggestion urgently. My wife Joined Wipro on 12th of Jan 2022 but till now didn't got any project. Stream is SAP Functional. Now she's holding an offer letter from Cognizant with a good package but problem is need to join by 19th of April. Is there any way to give spot resignation in Wipro? She's currently on bench.

like

^when the client puts you on actuals^

like

Ericsson IT Solutions & Services Hi folks I have been selected in below companies. Working as a Java backend developer in TCS with 3.5 years of experience. To day is my last working day. Please suggest me in choosing company

Accenture Bangalore
ADP(Automatic Data Processing) Hyderabad Ericsson IT Solutions & Services Bangalore Virtusa (Standard Chartered Bank client project)
ACS Solutions hyderabad

like

Guys, I am looking for a project in RPA technology. I have basic knowledge in Uipath and Automation Anywhere. Any leads please DM me.

like
like

Hi fishes,

I'm looking for job referral for the PMO role.

I have 4 years of experience in end to end Project Management activities.
Currently serving notice period.
Please help me with the opportunity.
Feel free to DM me or connect with me on below details
Mob- 9079746914
Whatsapp- 8955446929

like

Hey Guys, Currently I am having 16.12 lac pa in current organization and 5% Bonus So total comes around 16.93lac pa. Nagarro is asking me to rejoin at 20 lac pa (5% Project bonus included).
When I left Nagarro around 2 years back my fixed there was 11.50. Shall I consider this offer of Nagarro. Reason I want to change the job is because I don't have code based automation in my current organization and I have been an SDET in my whole experience.

like

I have seen that Some people are seriously demeaning Publicis Sapient looks like they have a personal grudge. I would suggest to connect with your HR and manager in PS or look for right people on LinkedIn.

likefunny

More Posts

For a friend: USMC transitioning veteran looking for opportunities in the southeast region, open to remote work. 8 yrs of specialized experience. Roles: Contracts Manager, Contract Specialist, Contracts Administrator, and Procurement Coordinator. GS or Consulting positions.

like

Hi people,Does anyone have given visa hackerrank interview recently? May I know the kind of questions being asked and their level?

like

Please suggest

YOE 2.4
Azure Data engineer

Fractal 14.5
Roch product corporation 18.5

like

Epam system(not epam anywhere) or Impetus technologies?

Tech stack- data engineer - spark, hive, hadoop, java
YOE- 8.5 years
Both providing long term wfh option
Ctc almost same

Which would be better to join for long term settlement and growth perspective irrespective of ctc offered?

Please suggest.

like

Hi, I want to learn how to build ETL pipelines with Pyspark and Azure. As right now i have experience in feature engineering only with SQL and Pyspark.

Can anyone suggest anything online from where i can learn and do hands on?@

Nagarro OR Deloitte which firm is good for interesting big data products? And which firm has better work life balance?

like

American Express Hey Guys,Can anyone who is a Data Engineer and working with Big Tech Companies share some light on how you guys are preparing for interviews?How are you learning so fast/so much?Can you please share some plan or guide me on what resources you are following?There are too many things. And in my current organization I am not able to learn those.I want to learn fast and more.I see profiles on LinkedIn that are filled with big data techstack.Please guide. Adobe Amazon Walmart Expedia, Inc. American E

like

I have been working as an Azure data engineer for the last 3 years and am currently looking for a job change.

Please let me know if you have some referrals for similar roles.

I'm currently serving a notice period and will join within 15-20 days.

like

Got an offer from talentica for around 11 lpa as a software developer.issue is they are giving 2 months to join whereas my notice period is 3 months.
Can someone guide me what to do?
Current ctc- 7.2 lpa
Total exp- 11 months

like

Hello guys, where can i find discount for universal studio Halloween horror night tickets ?

like

I’m a biomedical equipment technician how much do Michigan pays

Which is the most structured Figma course you've ever taken?
I need something which is really structured like Linkedin Learning.

like

I have total 4.5 years of experience in pentesting
Certs: CEH, OSCP and CRTP

What should be my expected CTC? My current is 12.5L

like

Out of curiosity, how do you all feel about the “haha, recorder is a joke” jab from other teachers? While I enjoy a good laugh, it kind of bothers me coming from non-music teachers.

like

👀 Can we talk smack about auditors? Trial balances based on filed financials are still trash once it comes time to do returns, so all I’m saying is materiality can kiss my a**

like

I NEED HELP WITH CREDIT SCORE issues: Two months ago my credit score went down by 30 to 40 points due to dad missing credit card payment by a day (i got added to as authorized user on his credit card for me to build credit but now I’m filled with regret). I was devastated by it. This past month I have been making more payments and paid off my aug statement in full thinking it will boost my credit score. But I don’t know why it went down another 10 points. More below:

Traveling to DC for 4 days. Looking for Marriott with parking and maybe concierge lounge functioning. Anyone use a Marriott recently they can recommend?
Open to other suggestions too. Thanks

like

37/F/ATL - is this thing still on?? Lol

like

Anybody struggle with imposter syndrome as a minority? How and why? Need some coping strategies man.

like

Additional Posts in Financial Advisors

Not a CFP so I’m not truly in the know. That said, if I’m reading this article right, 10/2019 to maintain your CFP, you will have to drop your 7 license if you are dually registered?

likefunny

Haha Merrill just reduced the pc payout grid by 3% for advisor below $2m in production

like

I need some good career-development or finance-related books, anyone got any recs?

like

Long drive tomorrow. Does anyone know of any on demand CFP continue education courses out there? I’d love to knock out 15 hrs of CE on this drive, if able. 🤦‍♂️🔫🤢

like

Colleagues, I'm an experienced Relationship Banker looking to start a career as a FA. PLEASE, reply if you are part or you know any local RIAs hiring entry-level individuals in NY. Thanks!!!

like

Anybody work with local governments on 459 plans? Anything there? Any land mines ?

like

So the fiduciary rule got tossed yesterday

likehelpfulfunny

Looking to grow my practice by acquisition I am CFP,CPA,MBA located in Central PA. Please let me know if you are interested in talking about your succession plan. Thanks!!

like

How do you get comfortable eating alone at a restaurant?

like

Can some of you experienced folk recommend some good books for rookies? What are your favorites for investment strategies, marketing, selling, etc.?

like

What types of insurance do you believe are important for a financial plan, and why? (disability, ltc, etc)

like

Should people be fired for lack of people skills?

like

I have a client who needs a 401k, or a solo retirement account w loan options. When I was at UBS/Ameriprise, it was no issue but now it seems tougher to find a firm that does solo 401k as a RIA's.

likehelpful

Do you dress up to go into the office?

like

Has anyone had success selling long term care insurance? How did you position the product? How did you convince the person to buy it? Which policy do you sell the most? Cheapest LTC carrier?

like

What’s the general guidance on the order to maximize retirement contributions for tax benefits for an normal individual and for a self employed/small business owner before moving to taxable accounts or alternate vehicles like cash value life policies?
I’ve seen for individual: match trad 401k->match roth 401k->max roth IRA->max trad IRA->max trad 401k->max roth 401k->max HSA
For self employed: max SEP IRA/solo 401k->max roth IRA->max trad IRA->max HSA

Of course situations differ but in general?

like

There will be an annual holiday called OCCUPY WIREHOUSE where every May 18 financial advisors and their clients congregate arm in arm in front of each firm’s home office as a sign of solidarity.

like

Real tips for overcoming shyness? I hear improv classes help.

like

Anyone have experience doing pro bono advisory for charities? Is there a good placement agency for this?

like

Going with a solo 401k so I can borrow 50k if I need it for buisness purposes in the future with no questions asked and fast what companies should I look at?

likesmart

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal