I have almost 3 years working for a RIA (first and only job). I really like the company, colleagues, culture etc. I started as an analyst and now my role is portfolio management. I have also brought some clients to the firm (around $6M). My compensation is okey, but I would like to make more money. What are ways of adding value to the RIA other than bringing new clients?
On prospecting, do you have any tips for a 26yr old on how to get new clients? It is not easy nor cheap to meet HNWI in miami

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

Do you mind sharing what your current comp is?

If you are/become the “lead” advisor for some clients I think you could also negotiate a % of the revenue incurred by those clients too.

like

Are you trading/billing on held away accounts? (401ks, 403bs etc) My company’s platform is used by advisors for increasing AUM from current client as well as prospecting for new business.

Company name is called FeeX. Feel free to email me at jack@feex.com for additional info.

like

That’s the only way. I’ve been in business for 23 years. Build your own book of business and start your own RIA. You’d eat what you kill.

We had a few in the last 14 years. We faced the challenge by putting a strong opposition assuming you have done nothing wrong and someone is just trying to @break the bank” with you. Opportunists are everywhere but we are extremely selective. Our onboarding takes more time than the wirehouses where the rat chase forces you to throw in anything that sticks. When you own your business, it isn’t about numbers anymore but quality. We fire clients who are problem-makers and aren’t happy. Just show them the door! It’s a good riddance and makes your business stronger in the end. I personally detach clients once a year and wave them goodbye. Instead of managing 100 households, focus on 50 with 20 mm each. You’d be much happier, healthier and better motivated. It’s important to only keep clients that appreciate you and show it! Ask for their testimonials. The SEC is allowing us to show them online now. If they ghost you, you know what’s going on. Get working on sending them good bye😆

like

So you are reading this because you are disappointed with the way life is going. You want more and not sure what path. All these offers are great but you are learning to be an employee FA. So while you research your options consider an agency building approach. I am looking for individuals who want more than just a license working for a firm with quotas, and answer to a boss. Come work with us, build an agency with residuals from many sources. Have freedom to be self employed 1099. Call your own hours/ days. No quotas. License reimbursement options, for life/ health/ 6,63,65. Availability except NY. 6037071355

Related Posts

If I have an offer on Networking Control plane domain and Dataplane domain which one should I chose for better career prospects?

Dataplane job -> 3 Lakhs higher paying than Control plane job offer.

@Cisco, @Juniper, @Arista Networks.

like

Can anyone tell me whats the median salary for Functional Safety Engineer? I had an offer for 140k (it was a 6 month contract position though). I will also be getting an offer internally at my current work place (which is full time) . Since full time offers more job security. I am not expecting them to match or put in an offer close to that amount, but just wanted to get an estimate.

like
like

Hi , After submitting the document when I can expect the HR round for salary discussion?

like

I've an experience of 2.6 years and interviewing for jav developer IN3 role. Currently holding an offer in 16 lakh CTC.
How much can I expect?
I'm in last week of notice period, how many days will it take to roll out offer letter?
I've a joining in 6 days at another firm, can I expect to get the offer before this ?

Yay; my hire got approved by HC 🎉. I’m in serious need for comp negotiation coaching now. How to best approach this? I’m utterly clueless about my market worth+approach and don’t want to leave any money on the table.

like

Anyone at Nelson Mullins Boston willing to make a referral? I’d love to chat with you.

like

Once you get into a FAANG company, is it better to stay where you are or move around? I’m a dissatisfied with my current job but I have vesting stocks, work 9-5, and people to know and respect me. I am the sole provider for my family and value quality of life and stability. I have some interview requests from other FAANG companies that I know pay more but I worry about starting over. Anyone switch companies and either regret it or are glad they did?

like

Why don’t recruiters tell you upfront about the role they contacted you about? I had a message from a recruiter yesterday from a recruiter about a copywriter role she’s working on...

likehelpful

Recieved a hike of 10% with 2 rating.
KGS.
I see people getting 27% with the same rating.

like

Hi Fishes,

Wanted to know which one is better option to choose in terms of Work/Life balance, Career growth,hike and job security?

1. Deloitte India
2. Accenture

Skills- SAP CPI
YOE- 2+

Thanks

like

Hello fellow fishes,
I have 3 YOE in CSR and 2 in Corporate Communications. Recently completed executive MBA as well. Work and current company is okay, but feeling saturated with the culture. Currently looking to switch to a company with good culture. Could you please recommend any good ones?

like

I am done interview with Google operation center. I am senior associate with five years experience. How much salary can I expect? If I work in GOC is there any possibility to join Google aboard? Is GOC a good place to work especially in Hyderabad location?

likehelpful

Does 130k in total compensation with a flat annual bonus of 5k, sound like a fair offer for 12 YOE in software implementation and now Technical Account Management, in Ontario?

Hi! I interviewed for a Digital Marketing Analyst for an agency for Data Center and Telecom PR/ Tech. Since we are virtual country wide, he asked what my salary requirement would be for this role. I haven’t had this type of position before and am unsure what to say. I want to reach for the stars but don’t want to come across with a scary offer. Can anyone advise or have any salary ranges? No info on Glassdoor for salaries at the company! I will be living near the SF Bay Area.

like

Why is it so hard to find a remote HR position? I have my SHRM-SCP, my MBA and over 10 years of experience being an HR Manager.

likesmart

Hey fishes ,
We have openings for java developer(fresher and experienced) at our company Mumbai based
DM for reference

like

Feeling disheartened after sending out 100+ applications with radio silence back. No rejections but no invited to interview either. I feel like my resume looks good, but I have not gone the referral route as of now. 1 YOE

like

Has anyone worked for Sentry Insurance? I’m being recruiting and I’m curious about their culture & compensation.

like

What are actionable items one should strive for when trying to grow as a designer after landing their first role? I hear a lot about ways to grow to land the first job but very little about how to improve after you know the basics.

like

More Posts

We need a Late Night Confessions bowl

likesmart

I would like to start an online side hustle wherein I’d like to teach kids, be it with school work or arts and crafts. Any idea how can I start with that?
What are some of the best places to offer such services?

likesmart

Any insider knowledge of EY modifying the frequent traveler program policy now that most travel will be reduced?

like

Almost midnight here and I'm cleaning my medicine cabinet so I can reboot having a regular skin-care routine. I'm listening to one of my favorite musicals, "Ragtime", specifically the song "He Wanted to Say". Living 9 time zones away from home out of the US and watching the BLM movement there, unable to do anything concrete about it from here - this song I've listened to countless times, today about brought me to tears.

I really don’t mean this to virtue signal - just wanted to share a moment.

likefunny

Hi! I want to become a Credit Analyst. Can someone refer me to Pacific Premier Bank or Deutsche Bank? Thanks a ton

like

What’s the going OTE for an enterprise software pre-sales engineer/architect these days for 10+ years of experience? Looking around at different opps and not getting any pushback from asking for $250k OTE even though my current employer believes $230k is the high end for this level. 🤷🏻‍♂️

How much should a shift lead make west coast

like

Can someone suggest good material for full stack web developer and any platform to learn and get good real life experience

like

I am getting third party company mails ,like working for xx client should I apply them?

like

SPAC bubbles are popping everywhere. Premiums being pulled out here pre deals. Becareful out there. None are safe. I will be selling puts in psth if it opens below 28

like

I just watched Trump Card! I liked it a lot, I knew many of the things Dinesh talked about, but learned some too. Anyone else see it?

Will we ever learn if our application was Denied because BAL made a mistake?

like

For folks who recently got their EAD, how long from the time of filing your I-485 did you get it?

like

Are any of you sleeping all the time? Like all the time? I wake up, get some coffee and then I have no idea what to do from there. I have no reason to be awake.

like

Apart from firing freshers, how is the job security in Tiger Analytics.
I'm thinking of joining as a senior software engineer (data engineering)
YOE - 2

like

I hate that I feel sad I’ve never had my work enter for awards. My feed is flooded with everyone’s success. Should this define me? Why do I care so much when there are bigger problems in the world?

like
like

Trying to transition and looking for a general progression of how you would go from essentially zero to entry level job as quickly as possible?

Currently going through the CS50 course to get a very basic introduction. Trying to avoid going back to school but open to boot camps if the community thinks they're with it.

Thanks in advance!

likesmart

Any idea if someone had take covesheild vaccine in India . Can they take boaster Moderna shot here

like

What is Pinnacle award ? And How will that benefit me ??

like

Additional Posts in Financial Advisors

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

Talking to an older advisor at diff firm who minimal serviced book for years. Assets are $100m+ but bulk in one fund family, so low rev A trails. Anyone ever tackle a biz like this? Find opportunity

like

Not including the canned stuff from wirehouses, does anyone send out a newsletter regularly to their clients?

like

How much did you spend on client lunches/dinners last year? I’m at $3,600.

like

Question for my 401k focused advisors out there--what programs are you using that is instrumental to your 401k practice that you simply can't do without? I'm being pitched on Envestnet & im not sold.

like

Client did coke 2 weeks before life exam and he tested positive and was declined Any suggestions on carriers?

like

What are some talents/hidden hobbies most of your coworkers don't know about?

like

How do you handle people in your life who try to discourage you from working so much or don’t understand your ambition? I’m thinking about just cutting off a lot of people.

likesmart

Best non-fiction book you have read?

like

Has anyone done/heard of the Morgan Stanley 3 year program? If so, what was it like?

like

LLP. 2 partners with a single employee. What could my client (one of the partners) do in the way of a retirement plan? 2nd partner may or may not “be in."

like

Looking for some other options in performance reporting from fellow RIAs, who DON'T have integrated solutions with their custodian. Currently using IAS. They cost me about 6k-7k a year. Fed up.

like

CFP thinking of taking a few month career break to search for a new position. Need a recharge and to reevaluate, not to mention time to search. Would this be a mistake? Thanks

like

What are some good marketing seminar techniques to use? What are good things to add in a marketing campaign to get new clients to attend?

like

Best book recommendations for inspiration and self improvement?

like

When emailing someone for an interview for the first time do you address them by Mr/Mrs last name or by their first name?

like

What is the most expensive thing you have ever bought? How much did it cost you?

like

What is your close ratio with walk ins/call ins?

like

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

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

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