For those who are non-Indy, what happens when you retire? I like where I am but the thought of handing over a book of business that has $700k recurring revenue to some 22 year old kid makes me sick.

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

You hand over nothing you package it and sell it!
They are your clients and your business.

like

Yea. Thats the issue i had with Jones. Kinda BS that some millenial that didnt have to work to build a business gets to walk into a situation wherw they are set for life. It happened a lot. And then those FAs act as of they built it and are hot sh*t

like

Yep, nothing like having someone that bought an office/ were given an office lecture me on market volatility after being in the business for two years. Or lecture about how to gather assets when they've never prospected a day in their life. Welcome to the dog and pony show.

like

Either your company should implement a retirement transition or you may consider going Indy so you can sell your book at that point

like

We can choose who our successor is as long as they can pass firm requirements to get hired. Then the firm structures a four year buyout based on trailing revenue. I've had buddies leave but only because their kids couldn't get through the interview process.

funny

EJ1... we can choose our successor, but now they aren’t permitted to take over the entire branch worth of assets. If your branch is too large, they’ll split your book between multiple people, with your chosen successor getting the lion’s share. It’s horse shit.

like

150mm to family, no more than 100mm to non-family? That my understanding, could be wrong. You also get bonuses and payout for creating new branches.

like

I would be interested in discussing your options.

like

Where are you located?

like

Find an experienced female advisor to sell to.

like

My biggest pet peeve was when those FAs would get tge leadership positions. I understand that someone needs to take over that office, im kind of ok with that. But then when the leadership team starts blowing them and giving them roles is what really got my goin

like

Get your kids into the business,

Depending on who you’re with, is there an internal succession plan process? Also, look for various ways that your company will facilitate a loan/purchase of your book. You don’t have to or ever want to hand it over to or give it away. Research your options within your company, then research your options outside. You don’t need to go Indy to sell it - there are tons of options before reinventing the wheel for yourself.

Yeah you have the option of going out and picking your successor and developing them over the long run.

OP, which companies do this?

Move over to wells (call me and I will get you in) and after a year, you can set up secession plan and they pay you again

Fayetteville, ar. (NWARKANSAS) 479-530-0702

Wealth advisor 1... you are so right about that. These jack holes hit the jones lottery, and then everyone in the region all of a sudden forgets they took over a giant book, and they get treated like they built that shit themselves.

Related Posts

i just had sex with my wife after like 11 months (reason for the gap: pregnancy+new baby).

And. It. Was. Life-affirming.

likeupliftingfunny

Would anyone be interested in participating in a research study? The only requirements are to be a school district employee and have a child in the district with special needs. Please help!!!

like

Question for parent 🐠s. What are the pro and cons of having 2 or more kids. Wife and I are exhausted with our 18 month old (who we both love more than anything in this world!). While we do miss the initial 6-9 months phase of parenthood, don’t know if we can do this again. Also, with us being 35-36, we have to decide if we want to have another kid soon.

like

Our baby is due soon so we’ve made the decision that we will only have visits from vaccinated family members (not realizing it would be an issue) only to find out that my Dad will never be getting vaccinated, planned to lie about it AND asked other family members lie to us about his vaccination status too… when we found out and asked him about it, he started to FREAK out. Now I’m questioning if we’re being unreasonable… how have you guys been handling unvaccinated people meeting your newborns??

If biglaw makes so much money, why dont most partners retire at like 50?

like

Does your job offer a pension? Care to share? I’m wondering if ours is competitive and also wondering whether to stay or leave for greener pastures?
Population: around 35K; 5 years to vest; retirement age 65; pension calc based on average of last 5 years’ salary times years in service times multiplier; multiplier is 1.25%. TIA!

like

New EY Partner 🐠, can you confirm the retirement plan contributions by EY? I’ve heard $35k to 401k and 85k to pension annually with 5 year vest. Is that accurate? Trying to compare to ACN RSU + VEIP.

likehelpful

Hi, I am a single-parent with a 9 year old daughter. Is anyone else dealing with same gender sleepovers with sexual exploration occurring? Exploring as in my daughter says outright “I am going to kiss you,” to her bestie before bed. Then after 15 minutes of giggling in bed I go to tell them to be quiet and see my daughter’s bestie is showing her buttcheeks to my daughter. To top it off they start trying to tell me they are laughing because they are reading “belly laugh books for kids”. Help.

Went on a first date, thought it was like a 6-7 out of 10 connection and with some red flags, but then she was so honest and cute the way we said bye that my heart melted into a puddle. Now I can't get her out of my head and am like a little kid excited for Disneyland anticipating date two. I'm in trouble 😅

like

Is it weird that I m traveling with my child to see my family while my wife stays back? (Side note: she had a drama with my mom a few months back) is this what I should expect going forward?

funny

How long did you wait to tell your boss you’re pregnant? I’m 7 and a half weeks pregnant and have a subchorionic hematoma so my doctor has been doing twice weekly scans to monitor because of my previous miscarriages. It’s obviously affecting my availability and I want to tell my boss but I don’t know if it’s the right decision.

like

Help! We think our 2.5 yo is dealing with asthma and doctors won’t seem to do much. He’s always sick/terrible cough and poor guy can’t get sleep and is out of school a lot. anyone experience this?

like

My normally super regular period is now five days late (not pregnant)... Is this perimenopause? 😭 I’m only 44 and so not ready for this.

like

Is it easy to get a nonconsulting role in Social Impact, Corporate Social Responsibility, Purpose & People? MSHR and SHRM-SCP with 10+ years of experience in compliance, global mobility, people development, workforce strategy and disability advocacy.

like

When leaving KPMG for another company, what are the payouts, if any? (Unused vacation days, etc) And is a 401k rollover required, or can you stay with Merrill Lynch?

like

What do you expect average paternity leave to be at an agency?

like

Am wrking TCS. For am medical emergency I have applied for salary advance today and it is approved.Buy amount is not credited. Ould any one let me know when will I get that money. I need that money for an medical emergency.

Is that possible will I get today?

Tata Consultancy

like

I recently went on disability leave and my boss Auto forwarded my emails to my coworker. I have plenty of emails that I need to access that have to do with my getting appointed with the carriers and policies that I have signed for groups.. How do I approach this ? I am upset that he didn’t even tell me. Didn’t clarify weather it’s a standard thing or not so as to ease my mind, etc. NOTHING! Jerk doesn’t care about my success

Hi working moms at EY, when should I contact Limericks lactation consultant? Are they helpful? I have my doula and she also offers lactation but I’m not sure if I should also check Limericks. I’m 30 weeks pregnant. TIA!!

like

More Posts

29M Boston, athletic fit. Looking for something serious. DM me

like

Recently got engaged but I really don’t fantasize about having the perfect wedding. My extended family (grandparents/aunts/uncles) are back in my home country, Australia, but my boyfriend has a huge family so the wedding will consists of 75% his family (and our friends). Am I the only girl who just wants a small wedding ceremony and call it a day 🥲

like

Deducting S Corp owner health insurance when they aren't really an employee? Owner doesn't do anything for the business anymore, but still wants the health insurance.

"Health and accident insurance premiums paid on behalf of a greater than 2-percent S corporation shareholder-employee are deductible by the S corporation and reportable as wages on the shareholder-employee’s Form W-2, subject to income tax withholding."

like

I want to make my way into Google. Any tips?

like

Need insight into Butler, Weilhmuller, Katz, Craig, Tampa office. I have an interview for an attorney position and wanted to know billable requirements and office environment. What there WFH policy is if they have it. Any insight would be appreciated.

like
like

Hi guys, my joining date in SAP is on May first week. When can I expect mails regarding onboarding process. Can someone recently joined brief me the process?

like

Any resource suggestions on how to GIVE a good interview?

I’m a female engineer trying to gain more leadership experience, but it’s been a while since I’ve even been on an interview myself (coding interviews, especially) let alone led any.

Looking for some up to date info/tips/suggestions that focus on engineering interviews and/or inclusivity & identifying biases (preferably both!).

Many thanks!

like

for dating, when someone is “out of your league”, does that mean in terms of looks or career. (Or anything else).

like

I’m 25, been working in boutique financial planning/wealth management shops since college graduation (ba Econ & finance). I hold my CFP and CIMA- no graduate degrees. Is it realistic to be able to make a move to PE or IB space?

like

The tasting lineup for this evening. Wathens came out the winner, Old Bardstown BIB 2nd, and Blanton's 3rd. That said, none were losers.

Post Photo
like

Best website(s) or resources to learn SQL?

like

Has anyone transitioned from audit to a strategy / operations type role? I’m coming up on year 5 audit and looking to try something new! Any advice would be appreciated

like

Looking for new ideas for open house. I’m a kindergarten teacher and the parents are usually so distracted by their kids the miss half of what we say.

like

Today I got an offer from Accenture. Doj is 6th March. Currently I am pregnant. I just want to know what is the minimum service days in Accenture to avail the maternity leave.

like

Can anyone refer me in Capgemini in Process Associate (customer service) ? Non voice preferably. I have a 3 YOE in TCS.

like

How much time barclays take to release offer letter after document submission?

like

Making the move out to the SF office, with a family. Any recommendations on where to live?

like

Any thoughts on clear eyeglass frames for men? Stylish or too casual?

Just got an offer From Guidehouse for their state and local governments practice, located in the Midwest. 76k consultant level. Thoughts?

like

Additional Posts in Financial Advisors

Pru has expansive outbrokerage options, but still captive. I was speaking to someone recently that said Pru is closer to independent than captive. A hybrid almost. Thoughts?

like

There is a special place in hell for people who merge cells and add spacer columns.

like

I'm having a cold streak where a bunch of my leads are choosing to stay in the sidelines to "ride out" the volatility. I'm literally seeing this with everybody, from prospects to existing clients.

like

And finally I can sleep better for 4 days! Happy thanks giving to me! 😊🍺

like

What do everyone think of the designation CLTC, thank you

like

Any tips for an introvert at a networking event? Find it hard to talk to people and keep a conversation going

like

Do you add clients as a LinkedIn connection after you've sealed the deal?

like

Does anyone put money in VAs for a business client? What are the PROS/CONS/DIFFERENCES? Scenario: 5 doctors want principle protection first and growth of principle second. Each doctor is 20% vested. The business is cash rich and time horizon is 3 to 5 years. Thoughts/Advice welcome. I already have the potential company/product with no surrender period so I don’t need referrals but I’m thinking there will be at least one person who only reads part of this post and referred me anyway. :-( TIA

like

Tfw you've been to gym, done laundry and put ribs in to slow cook by 9.30am

like

Anyone else feel extremely sleepy once 2 pm hits? Any solutions apart from coffee?

like

Anyone meet clients at home?

I'm an RIA, and my home office is much nicer than my office. Unfortunately it doesn't have a separate entrance and you have to walk through the living room/kitchen.

like

Thinking about having my wife stay home w/ kids. Her job pays 100% of our health benefits today. Curious, are there options for group health insurance through like alumni or other associations? Cont

like

Would you say that you're genuinely liked by the majority of people at your office? I just don't really seem to vibe with many people...

like

Anyone else completely despise having to “juggle” so many different tasks at once? I’m not here to be a friggin juggler I want to be an advisor!!!

like

How do people have time to workout during the week? I work so many hours.

like

Do you all find time to read books for pleasure with jobs like ours?

like

Thinking of bringing on a new advisor. Just my partner and I rn. Newbie was previously licensed working as a paraplanner. He'll need to get fully licensed. What sort of contract should I offer him?

like

Does anyone know the starting salary for Premier Banker at Wells Fargo @?

likehelpful

Just curious, what do you all think of WSJ? Do you think it’s worth the price? I’ve been a subscriber for several years but have been finding myself questioning its worth lately.

like

How much would you charge a client with $10 million+ in discretionary fee based?

like

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

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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