Practice Manager Salary question
We are in a modest size county, close to a big city, but a long commute
For those with a Practice Manager, interested in average salary
3 unlicensed staff, 400ish clients

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

What is AUM? How many advisors?

@ $150 million, 1 advisor

What do the 3 unlicensed staff do? Seems like over kill. Why not just have 1 licensed staff or junior advisor and admin? What would the practice manage do that the staff member can’t do? The junior advisor can service some of lower tier clients.

One of the 3 is the practice manager, one for scheduling and meeting prep, one for money movement, paperwork etc, no junior advisor as of yet. PM personnel issues, manages other staff, creates SOPs, tracks business metrics, compliance and more

like

To me it seems like there is a lot of unnecessary fluff in what your staff does. We have several advisors at our firm who have a bunch of staff. I think for their own egos. I am not saying that is you, you are obviously successful in what you have built so far. I bet if you ally did a deep dive you could release 1 or 2 employees, save 100k and have less stress managing the staff and still grow at the rate you want. Everything is automated in today’s paperless world. I have 105m AUM, its me and an admin that I share. I do receive back office support from my B/D based on production which is nice. Maybe I will feel different in a few years when I am at 150m.
To answer your question from OP, I think base of 75k plus % revenue growth would be decent starting comp for practice manager.

Related Posts

Hi Everyone,
Im looking for a switch ,
I have 2 years of experience
Having good problem solving skills using java
And my current pacakge is 5.5CTC
So , How much I can expect from switching...
Please Help me

like
like

What will be in-hand salary for 43L base component.

like

What’s the range for a senior consultant at Deloitte gps?

like

Hey , I joined as an BA4 6 months ago. I wanted to know how much hike should I expect for this year?

like

How much @continental can offer for 9 yrs experience?

like

Currently exploring an opportunity to join RSM transaction advisory, any insights into culture, WLB, comp progression?

like

I have the opportunity to take a Solution Architect role for the Salesforce CSG team. I'm currently a solo SA for a large Salesforce Org usually dealing with about 5 large projects at a time. Can anyone that has or currently works for the Salesforce CSG team answer a few questions?

1. How many projects/engagements does a normal SA for the CSG team work at one time?

2. What is the average starting wage of a SA on the CSG team?

3. How do/did you like working for the CSG team?

like

How much an application development team lead gets @ accenture YOE 6 ?

like

US transplant with 7 YOE looking to work at Capital One in UK expected to make £100k at M or £115k with promotion to SM. Is this good in comparison to other firms? What do Big 4 and other firms pay for around this YOE?

likefunny

Can anyone tell me what the salary range is for a QA lead in the metropolitan area at Salesforce is?

like

Am I being paid competitively? I have been the Onboarding Sup for my HR dept for over a year now and I’m being paid the state min for salary, which for CA is 62,400. I have not gotten a merit raise since the last 2 January’s, the state raises the threshold for salary folks. My company says that was my raise. Is this right? I bring a background from the clinical operations of my company, scheduling, field work, and what the average employee faces. I want to look else where but I’m not sure.

like

Can anyone please tell what will be the in-hand salary after all deduction hcl

Post Photo
like
like

If there is a request for a US tax specialist to do a loan staff / secondment in Dubai, thoughts on salary range for experienced Manager ? Requesting housing from company? It’s M&A deals related so hoping it will be decent pay.

like

What’s a good salary for a Senior Consultant in DnA space ? Let’s take Big4, MBB for an average. I’m offered 105k base.

like
like

What can be maximum pay that can be offered when I am switching from Dara Engineer III at Walmart to Data Engineer II at VMware ?

like

Does TCS offer stock as part of bonus ?
Can employees (associates) purchase TCS stock?

like

Looking for honest opinions: would you trust career advice from someone who doesn’t necessarily have a background in career coaching but has always been “that friend” that everyone calls for career advice, resumes, salary negotiations etc?
I have a long background in management and have been very successful in climbing the ladder but I would love to start career coaching on the side. Any feedback is helpful!

likeuplifting

More Posts

If I move to the Bay Area from Austin, are there any major negatives that will be really hard for me?

like

I'm reaching the point in my career where visibility in the company is more important for promotions than my technical skills. I hate networking with a burning passion. Should I just give up on getting promotions? I already make more money than I need.

like

I left a little doorstep herb garden out over the winter. Do we think anything will come back or is it dunzo? Basil, cilantro and thyme. My rosemary out there persevered!

like

My relationship with manager has deteriorated over the last few months. Could this be a reason they could fire/let me go? I am a good performer overall.

like

For those of you on medication, how do you manage delayed flights causing you to miss appointments? Often, cancellation policies are strict, expensive, and require several days notice.

Just tell me what you like and what you don’t ffs. I don’t want to have to “talk” about it.

like

Hi, I’m a Canadian PR holder currently in the US. Trying to make the move to Toronto in the new few months. I see positions at Deloitte that I think are a good fit but applying online without a referral appears to be going into a black hole. Is there anyone on here I connect with to understand more about Deloitte’s hiring process? (Recruiters I can reach out to, people willing to give referrals etc)? Would be very grateful! I have contacts in Deloitte US but that doesn’t seem to apply for CA!

AWS professionals, what do you think of OpenShift now that it is available on AWS?

likefunny

Do meds work? I'm skeptical. Prescribed wellbutrin but haven't started yet.

like

I am mainly working with shops in the States as a non-native speaker and I am constantly worried about my ability to communicate (in any professional occasion but mostly in meetings). I am working with some of the best shops and this makes the situation worse considering that I am largely surrounded by an extremely competent group of folks that are super good at any form of communication. How do you feel as a native speaker when you meet non-natives? Should they be worried, or, they doing ok?

like

Got a random email from a supposed Amazon recruiter for a SDE position (which is not at all a fit). The email is amazon.com domain and there are no red flags in the body but it doesn't feel like an Amazon recruiter due to the tacky signature, etc. Has anyone seen this kind of cold-calling from FAANG recruiter?

like

Are Accenture UK looking for any SAP Fiori Developers?

like

Which among WITCH has SAP data intelligence practice/ projects.

Thanks !

like

Guys I have a offer for Penetration Testing Engineer L4 position, London location what should be the salary ?

Years of experience- 2 years

I made Peruvian Lomo Saltado the other day. Recipe from Tasty but 3TB of vinegar and 3TB soy sauce for more flavor. Easy and delish!

Post Photo
like

So whose tryna watch Dvorak later at Grant Park? 🤔 🐠

like

Looking for recs for an outdoor party spot this summer. 20ish people on a Sunday afternoon, chill vibe, not too loud, somewhere people can easily come and go. Best I’ve got so far is Kaiser Tiger or metropolitan tap room. Any others? Thanks!

like

Has anyone seen the movie Spotlight? It made me think again about the passion to find the perfect news, the one that would be really helpful and necessary to society.

like

Hello Fishes,

I have got my L2 Dependent Visa stamped for the US through the Wife's organization and she has booked the tickets for the both of us in the next weekend. I am currently unallocated in TCS and seeking projects in the same US location as my Wife. Can I travel to the US just like that and then continue my search within TCS from there or do I need any approvals to even fly in the first place?

I am worried because of the time crunch and will be glad to hear some points on this.

like

Anyone work at Instrument’s PDX office? Just applied for the Senior Strategist position. Have both UX and Brand experience. What’s it like to work there? Looking to move back to the PNW!

Additional Posts in Financial Advisors

Hey fish: what are some of your favorite business/self-help books?

like

What's a good way for clients to bring referrals to events and seminars?

like

Client referred me to thier mother. Has $68k coming due in cds and wants income. Money is qualified. Refuses stocks. Wants some money short term. Any ideas?

like

Anybody familiar with the Fisher Investments sales role? They give you a salary first 2 years plus commission, but the only thing that I don’t like is they no longer pay the trail on any account you open after 3 years. Just wanted to know if anyone knows anything about their program and if the FA’s are really getting THAT many leads to justify that comp plan.

like

I just finished the book I was reading. What should I read next?

like

Anyone use computer glasses to reduce eye strain? Do they work? Any recommendations?

like

Anyone working at Barclays Wealth Management in the UK?

like

What are you guys charging? I'm thinking the initial plan at $150 per hour so ave $300-$1500 per plan. Ongoing plan 20 basis points of the AUM. What are ya'lls thoughts and what do you charge?

like

What are some good networking clubs, organizations, or groups to get involved in?

like

Sitting with a $50M prospect tomorrow and I’m so nervous. I’ve only been in the business for a year and I have no idea what I’m doing

likesmart

I’ve got my first CFP course exam on Monday. I’m going through the American College HS300. Any advice or tips? I feel good overall, but still nervous. Thank you.

like

Anyone familiar with the payout structure at PNC Financial?

like

Sometimes I feel like I am a drone that just works all the time and I have no friends.

likefunny

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

like

Does anyone know about fidelitys platform, base, compensation and goals?

like

There are advisors who present themselves as a financial planner first and investment manager second. Which one are you?

like

How do you feel about "workplace of the future?" I literally can't focus when I can hear & see everything everyone is doing. It's definitely impeding my productivity to not be in a quiet environment.

like

Best technology to use that LPL has?

like

Best coaching company to help focus on client service model and bringing in new assets?

like

At what point did you realize that you no longer had to fight to make it? Certain number of clients? Certain number of AUM? Maybe never?

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