Coming up on 2 years, bringing in about 4m/year. Is that above/below average? Doesn’t feel like enough. I am focusing on developing CPAs but would like feedback on other ways to grow.

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

4mm a year is great in your first few years! I brought in 4 my first and 7 my second. Now looking at 8-9 in my 3rd year. It’s been the build up of those things that take time: networking, seminars, etc.

like

You guys are knocking on him way to much... first 2 years in fresh and averaging 4m is good. That’s 4m more in already clients to expand relationships and bring in more assets and ask for referrals, so the back line pipeline is in place while he door knocks.. back off with the comments. acting like everyone is handed a $50 mil book to get referrals from to generate 8-10 m a year in new assets....

like

Hit some doors. You'll be under with the new standards.

like

New standards went into effect this week. I’m meeting. As a Jones guy, I’m well aware of “hitting doors”. I’m looking for constructive feedback. But thanks anyway.

like

That's good for the first couple years. I like the CPA and attorney route. Perhaps get involved with 1-2 local charities to rub elbows with HNW prospective clients? Read a book by Oechsli.

like

FA1, you’re making the assumption I don’t door knock. That is not the case. It has not netted me the larger clients, ie, 350k-700k needed to accelerate my growth. All those came from referrals. The Doorknocking does work, I am focused on ADDING other client acquisition methods. My guess is you have been at Jones for a long time. Congrats on the success you have built from only knocking on doors.

like

Impossible to judge without more details. How old are you? What type of practice are you looking to develop - asset management, financial planning, wealth manager? What is your target market? Are you building up a fee based book or selling mostly commissionable products? I can say a bunch of inflammatory things about EJ but it doesn’t do you much good. If you are a young guy trying hard and bringing in $4m a year and are able to feed yourself you’re doing fine and likely doing it more right than wrong. A piece of advice would be to not focus too much on CPAs - look more for a seg group or business that needs your help because you know them or their specific problems backwards and forwards. I wish you the best - the fact you are asking the question means you likely have the answers inside you.

like

4mm isn't enough. You need to be shooting for 6-8. As far as growth, key referral networking is good but takes time. Focus on meeting people and trying to gain their trust or business. Start to do client and a friend lunches or just grab a drink. Always a good way to meet new qualified prospects. Finally, can't ever go wrong with seminars. There is no magic formula regardless of what any book may tell you. It comes down to hard work, discipline, and consistency.

like

Thanks for the feedback EJ1 & EJ2. I will check out that book. My goal is 50m @ 5yrs in field. Which means I will need 10-12m/year in yrs 3-5. Wanted to make sure that was a reasonable goal. I like the seminar and quick drink idea too. Thanks again.

like

You asked for ways to grow. They teach doorknocking because it's the fastest way to grow a pipeline. Cpas charity boards and all that take years to develop. May be meeting now but you'll find the standards move up very rapidly. You still got time to right the ship but I wouldn't wait another year to kick it into prospecting gear.

like

You basically door knock just to stay in the business long enough for the other methods to work. Year 3-4 is where your referrals really pick up.

like

Lucky you're not at a wirehouse. It doesn't mean a wirehouse advisor is better (the opposite) but they expect 10m a year to to "skate by". They really are looking for 12/13 a year.

like

Focus on net assets brought in. I'm 7 years out and my goal is a net of 8m because i know how much goes out for monthly income/RMDs/ unexpected withdrawals. Keep up the great work.

like

To provide context. I’m 35, most new assets are fee based. EJ has a choice matrix that lets them decide how they want to compensate us, but if it were my choice, fee based would be it. I haven’t worked out a Seg group yet or particular business. But I am working towards that. Starting with investable assets as a broad measure then in a particular biz.

like

You need to leverage referrals

No one is hating on him

Related Posts

like

Best consulting firms for PE work (CDD,Value Creation)? Looking for the best firm for exit ops to PE ops eventually. Thanks!

like

People that have moved out of analytics what sorts of roles did you take or did you consider?

like

I need some advice. I have a Bachelor of Science Degree in Healthcare Administration with 20 plus years working in different Healthcare roles. I am working as a PBM Claim Specialist. What other positions can I apply for that is fully remote and better pay? Side note I am thinking of applying to nursing school sometime later down the line. Any advice will be greatly appreciated .

like

Anybody work with Federal Advisory Partners? I have a potential opportunity with them and am wondering if it’s worth making the move from government. Thanks!

like

Has anyone ever transitioned out of physiotherapy as a career? It may or may not be pandemic related, but 3 years in I’m burned out and curious about other options

like
like

HSBC I have an offer for Consultant Specialist GCB5. Not sure what the role is..is it a team lead role or is it a junior role? I have 10 yoe .. is it apt? Pls help Thanks

HSBC India

like

Stupid question, want to get into political risk consultant, is that a thing outside of PwC in the big 4? If so what qualifications do you need and what's more utilized, risk analysis or poli sci?

like
like

I went in-house 3 years ago. At the time, I was interviewing with 2 companies. One company was a much better cultural fit for me and I was 1 of 2 finalists. But they chose the other applicant. I got the other job and have been there ever since. The work is ok,but I still struggle with company culture daily. 3 years later, the original job that I wanted has been reposted. Reach out to the GC directly to show interest? Is it worth moving from a comfy job just bc I think the culture will be better?

like

Hello all,
I'm Prashant (Be mech 2013), had 2 years of gap in 2015-16 due to some family issues, now I'm working in Kansai nerolac paints ltd as a production officer from last 4.5 years. My monthly salary is 28.7K. Actually this post is for BE/Btech in paint technology.I am facing difficulty getting job and promotions becouse I'm not from paint background.I'm depressed and feeling financing weak.I don't know what to do now.I can't leave this job, So please help me, what should I do now.

like

Considering switching from consulting to sales engineering/presales.

Getting clients engaged during the sales process, doing demos, and helping get them ramped up via workshops is the highlight of my work for me.

Curious about which level to aim for given that I'm coming in with 15+ YoE.

Also curious about switching away from the technology stack that I've mostly built my expertise around (EPM/CPM) to more broader analytics / SaaS toolsets... How hard is that transition?

like

Hi all i have a 3 year experience as Datascientist in industry with masters in ML im completely tiered of my current job due to politics , work env and projects .want to switch to other companies..please help me which one has good work env and proper pay nd projects

Tried to get into tech but I don’t know what more they want . Any advice or help would be really appreciated

Has anyone here made the “homegrown” climb to big4 cyber partner?

like

Sup all, I'm a director in pharma marketing and want to eventually get to a senior leadership position. I have an MD and currently applying for an executive MBA program. In the meantime, I'm looking for board member positions. I'm open to most industries but particularly enjoy med, pharma, and tech. But, I'm having a lot of trouble finding something. Any advice?

like

Anyone from the IDAM domain here?
I was thinking of erolling to an external SailPoint self-paced training from "identityclasses.com", which costs around "Rs. 25000" for 1 year access.
Let me know if anyone is interested in sharing the cost for shared access.
Also let me know if any better course/training is available.

How is e-commerce tech operations role for CA with experience in internal audit. Will this help grow in career

What are common exit options when being part of a (operational) transaction services division? DD work would be sporadic, so I don’t think PE is an option.

like

More Posts

Hello! I am a Technical Sourcer/Recruiter at a reputable FinTech company. I would like to transition into Project Coordination/Management within the tech space. Any tips for the transition? Recruiters: I am open to entry level & contract roles to gain experience! Thanks in advance for the assist!

Is there any real difference between NYU and Columbia for finance in NYC? Seems like Stern is a better experience that gives more scholarships with same career placement.

I have total 6+ yr of experience and I am working as on .net core SQL angular and azure kind of technology and I want to change my job what should be the expected salary right now my salary is 10LPA

like

Hey, folks I need to ship a car from Chicago to San Francisco, any recommendations for shipping companies ?

like

Anyone have a recommendation for a financial advisor, ideally someone who can deal with cross-border assets (UK, US, Canada)?

I've avoided them to date as they seem to sometimes give conflicted advice, but at this point feel I'm probably missing out as I don't have time to manage my portfolio very actively. Advice on roboinvestment etc also very welcome!

like

Best MBA for husband hunting?

likefunnyupliftinghelpful

I'm scheduled to have my first interview with Stripe this week with an Exec Recruiter for a non-tech leadership position. I have a few friends of friends there, also in leadership positions, and I'm wondering when the smartest time to ask them to advocate for me might be? Now? Wait til I advance further? Coming from a world where hiring processes are informal and the single most-important thing is who you know at a company, I'm a little unfamiliar w/ the tech world interview process.

like

What is the one thing you would change about discovery rules if you could? In CA I’d implement mandatory disclosure of all damages by Plaintiff at the time of filing.

like

Any suggestions for an organizational/organization expert, coach, or someone that helps with getting firms organized? We need to be more efficient and have better systems in place.

Brief problem: We feel that we (partners) are unorganized, and as a result our staff is following the same disorganized structure and we’re not getting as much work/tasks completed as we should.

I need someone to help whip us into shape.

like

What all tools are required for data engineering?? Can you please help

like

Where is a good place to look for accounting contractor work?

like

Hello Fishes,

Yesterday i received salary breakup letter, I accepted it. When can i expect my offer letter from TCS. Any Idea?

I have received offer from Accenture mentioning joining date is sep 22, previously I told them 3 month notice period, but later I got to know that my notice period is of one month asi was in probation.
So i have requested them early joining, will they give?

I discussed same thing with HR,he said that he will send revised offer letter before my LWD. But I have not received yet, it is almost 20 days now.

My LWD is 17th July. And I don't have any other offer.

Pls suggest what should I do.

like

Anyone who attended Hiring Drive in Honeywell on Aug 24th got Offer Letter?

Is anyone from Bain willing to provide a referral for AC position? I have been focusing on supply chain and manufacturing strategy. TIA! Bain & Company

like

Any companies that do AML or fraud work?

like

Every now and then, I think about this funny SM and his funny posts. Unfortunately, he is married but still hoping I will find somebody as funny as him. 😆

Post Photo
likefunnyuplifting

Merry Christmas all. Looking for good books for 2018. Possibly related towards sales. Heard about questions that sell etc. any recommendations?? Trying to learn all I can as a new RIA

like

Favorite mid-tier budget level activation production partners?

like

Additional Posts in Financial Advisors

How do you practice self care when you've had a bad day? I like cooking my favorite meal and then going to bed early.

like

I'm looking to improve my communication skills to navigate a very political environment better (i.e. I need to be more diplomatic). Any books recommendarions are appreciated 💁🏼‍♀️

like

how do you approach planning for a 30 something doctor and his wife, who owns a home has two kids , is smart enough to have no problem planning for retirement and is making 500K plus?

like

Are people really that insanely busy that they can not be bothered to use semi-decent sentences to communicate in their emails?

like

What advisory platforms are you using, and what do you like or dislike about any of the platforms? Going to be doing a web-x with my Advisory contact later today and any input is welcome.

like

Anyone ever used the Warton Group? Their marketing emails say they have preset appointments with 401k plan sponsors that are shopping their plan. The advisor is charged for the contacts. 1/2

likesmart

anyone have a good resource for explaining the benefits to clients of fee based vs commission based accounts and why you use the fee based? Getting some pushback from new client (continued...)

likehelpfulfunny

I'm not great at minding the details, sometimes. I am trying to become more detail oriented. Any tips on how to accomplish this?

like

Any suggestions on resources to improve communication, specifically verbal? Books, podcasts, YouTube channels, etc. Got some feedback that I need to improve my ability to 'speak to my audience'.

like

Can anyone here give me insight on what I should expect to get paid as an Associate Financial Advisor? I have an MBA in finance and I just got my CFP (3 years industry experience). I just want to meet with clients as part of a team and not manage my own book. I'm making $85k now, not sure if that's reasonable.

like