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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.
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.
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😆
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