I've finally decided that that RIA is the right choice for me. My two biggest concerns are brand and helping smaller clients. Do any RIAs have suggestions?

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

You won't make much money on startup accounts, and it is a bit harder to administer if you are going to deduct fees (you have to pay attention to cash balances because you dont want a ticket charge to liquidate $5). But it can be done. Best thing is to use low cost Balanced Funds or something comparable for small accounts. Just remember, $1mm AUM will net you around $10K per year. So you can't build your entire business model on Roth IRA's unless you don't need income for several years or you are also selling insurance or something else.

like

Do you do VAs or have many that you are collecting a trail on?

like

Just make sure you build your own brand, don't sell the custodians brand, big mistake. We provide our advisors with their own branded client web portal so the they can constantly push clients to their brand. I see advisors with links to Schwab or FCCS on their websites and think that is NOT building brand... that's what wirehouse guys do. It should be all about you!

like

How small do you want to help, and how many of them?

like

3.5% advisory fee? You better be knocking the cover off the ball.

like

Just believe in what you’re branding. We help smaller clients... all go into advisory at 3.5% minimum $2,500.00 and get invested along side same accounts that have $1,000,000.00. We buy equities only and produce exceptional returns. All done on block trading system. You’ll be surprised at the referrals you get once u manage their money the proper way.

like

FA2, 3.5% annual fee??!!! Unreal. When they could get an A share mutual fund for an upfront pop and 25 bps thereafter. But, you’re a fiduciary and always working in the clients best interest, right ;)

like

Performance based practices don't last, relationship based practices do.

like

Fa2... right! I believe you, for real, I do!

like

Someone wants to start a roth IRA. I would like to help, if possible.

like

Keep believing in that product MFs that Wall Street built to keep the masses returns muted. Don’t insult me... you’re the one not working in clients best interest if ur buying that garbage. Our returns are stellar(better than any mf), our clients live the lives they want and always settle for nothing but the best. We know our worth and so does everyone of our clients.

like

FA2- please explain these investments that are way better than MF's.

like

Build it yourself... do a lot of homework on common stocks and buy them outright. Cut ur loses quick and stick with ur winners.

like

Nope been at it for 20plus years... we’re not invested in down markets. Ur comments are baseless with no true understanding of how the markets work. But that’s ok keep eating that lunch wall streets serving u up

like

Exactly but only 250aum I’m a piker lol it’s not easy but work really hard everyday

like

Have 3 staffers glued to screens from 6am to 6pm

like

Dude makes 8.5 mil a year and spends his time in chat rooms. 😂😂😂. The last guy I knew that talked like you was some schmuck cfa who had the most sophisticated options strategy known to man. Only one problem: his only clients were his parents and their 3 mil account.

like

🤑

like

Better than ANY mutual fund...come on buddy. We see that you’re wounded, however that claim is ridiculous. Mutual funds work very well for certain clients. Nothing wrong with picking a good fund family if it fits.

To each is own... u could have best relationship but I assure u in time if u don’t perform ur gone. Mf work well if u want to be like the herd... good luck

Related Posts

Anyone else burnt out mentally even with meds? I’m sleeping, eating well, working out every day, on a low dose of meds but my motivation is in the trash. Take frequent breaks too. Brain feels tired

likehelpful

Brillio does he take time to share feedback?

I think I finally completed my 3 watch collection!

Post Photo
like

So I have to be vegan for a while for health reasons, has anyone else been through this and how did you survive? Lol and also please share any cooking or recipe tips if you're up to it!! Thank you so much.

like

Wise confessions bowl turned out to be a feel good bowl. ♥️♥️

likeuplifting

How did you make friends when you first moved here?

like

Hey guys! I work in patient access in NYU langone that’s in New York City. I just recently graduated with my BS in health service Administration and I am looking for a supervisor or other position role that makes over 60k

like

Wondering if anyone else was hungover after LDW and now probably won’t get back on top of their inbox until 2022 😔

likefunny

i'm looking into getting an american express credit card.. this will be my first credit card, i do a lot of driving and traveling what would be the best one to get?

like

What agencies use freelance account people? I’m looking for work and think freelance is a good foot in the door. Know health/pharma agencies use freelancers a lot but looking for agencies outside that category too.

like

Sometimes I feel like it’s less exciting to be friends with siblings/cousins bc it’s like they’re built-in/have to like you. The beauty of life is finding people who learn who you are and enjoy spending their free time with you!

like

How are Deloitte’s Cyber Third Party Risk and Data Privacy teams? Both have reached out.

Is this idea that the best startups are created during a recession just overdoing optimism or do you think that's the actual reality?

like

I joined IBM with 5.3 yrs exp at 7A position

What will be next role? How many years it would take for that?

Are you one of those people who practice their comedy routines while checking out at the store? Why are you the way that you are?

likefunny

any experience with Eastway Behavioral Healthcare?

like

Is there really anyone who supports Mitch McConnell as a human being?

like

Just spectacularly botched an informational interview. Basically got very politely told I don’t have a clear plan for my career, my resume doesn’t match my vague goals, and I need to figure that out ASAP (3rd year attorney). Worst part is I have gotten that feedback before at an informational interview right out of LS. Probably keeps coming up because it’s true. Just embarrassed especially because I wanted to make a good impression on behalf of my mentor/referr. Commiseration &criticism welcome.

like

How long does it take you to write 100 headlines (not necessarily good ones, just ones you write during your initial drafting phase)?

I hate our political environment right now. I feel like based on where you are, Republicans and Democrats just want to out extreme each other.

The West Coast Liberals are always doing something 10000 ft past the line and Southern conservatives are always trying to take us back 300 years

likefunny

Additional Posts in Financial Advisors

Anyone using Junxure...it was originally for big teams, but they are rolling out a cheaper cloud version.

like

Looking for maximum lifetime income from a VA or FIA for a 62 year old female. Any ideas? Qualified money. Finding 5% from Ohio Natl. and 5% from PacLife

like

Is our comp and benefits really the best in the industry? Let's get some feedback from people who have been at other firms

likehelpful

Has anyone bought a list of prospects that was actually legit? If yes, what company did you use?

like

Which fee-based option pays the highest fees? Asking for a friend......

funny

I swear I leave the most awkward voice mails.

like

For my Raymond James friends--how did you decide between W2 and 1099 channel? What were the main benefits that swayed you to which side? Was it the right move?

like

Don’t really work in the CD market but some of my older clients keep asking about them. EJ posted some rates in the paper that were ok. Is the rate net or gross of commissions?

like

If you do not work nights/weekends in your 20s you will not be successful in your career. Thoughts?

funny

How soon should someone start thinking about pursuing CFP or CFA designation? What are the requirements and is it worth it?

like
like

What is your nightly routine? I am struggling to find consistency and looking for some tips

like

Looking to upgrade the quality of my work shirts to something more comfortable. Pretty cheap person so not trying to break the bank either. Any good options in the $50-$100 range?

like

What are the best and most interesting benefits that you have at your job?

like

Hey bowlers! After a 2 year hiatus due to a messy divorce, I’m getting back in the industry and starting at Raymond James next week! Super excited and am interested in any advice you’d give!

like

Getting an email saying "variable compensation" may be affected makes me feel like a vampire in a silver mine.

like

Struggling to sleep these days. Trying to exercise more, less screen time and less caffeine. Any other tips? Supplements etc?

likehelpful

Why do people buy Starbucks coffee when your home office has a nice automatic Starbucks coffee machine and all you have to do is place a cup. I swear I'm not cheap but wasting $3 bucks irritates me.

like

Big 🐠 little pond, or big pond little 🐟 ???

like

I can advise clients all day but when it comes to my own marriage/money I struggle with helping my wife understand what her actions do to our $ goals and my stress. going to continue this in comments.

likehelpful

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