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

Buy at a discount. Huge opportunity

likefunny

Should be tons of opportunity. Planning, fee based, estate planning, insurance, outside assets among many others. Most of his clients don't know they've been neglected for years and it's a crime.

like

I agree. They’ll charge based on past revenue, not potential. You can do this and you don’t even need a ski mask or a note!

likefunny

The current service model should discount the multiple.

like

Who is it I'll buy it

like

Agreed to all of the above. I bet it is American Funds?💰

like

They aren't known for growth funds or bonds. Move to fee based keep the good stuff and get better managers for bonds/ growth

like

Good guess Morgan Stanley 1. Issue could be a bunch of low basis legacy A shares. Not a whole lot of justifiable changes (ie: move to fee based) other than for the sake of raising business revenue, agree or disagree?

Totally disagree. If they are close to or in retirement lots of justifiable reasons to move. To tired for details tonight. Maybe Sunday I'll post more
Because of cost basis probably will need to be done over time and you ll need to do your research to make sure it is moved to the correct tpam solution..which probably means a non proprietary solution depending on who I clear through.

I would check avg client age. I have found with older books some of these clients won’t do anything no matter how logical it is to switch them up or how good your advice is.

Related Posts

Anyone have insights into Zions investment bank?

like

Debating a career switch. Any firms in Nashville?

like

Anyone go from SaaS / licensing sales to services (strategy & implementation) sales?

I'm thinking of moving from large cap tech to large cap consultancy firm to help build the resume and round out my experience. I enjoy and do well in licensing, but I'm fairly young in my career (<6 years) and received a great offer to make the move.

Big fan of the org and team I'll be joining as well.

Thanks!!

TC ~$300K

likehelpful

Hi Fishes,
Please suggest
Im holding offers from
EY GDS: 18 lpa
IVY comptech: 16lpa
YOE: 5yrs Tech: Unity3D, C#.
Can you guys help which would be better in wlb, job security, benifits. EY Ivy comptech Tata Consultancy Deloitte

like

Do you keep interviewing after offer signed and background check cleared?

like

Hi All,

I have joined UST a Month ago and still waiting for a team alignment. Could some one tell me the alignment process.

Experienced hire at Deloitte ; compensation analyst with 2 Yoe. They want to offer me 69k. Should I counter offer 80? It’s the USDC so my total rewards package is not that great.Deloitte

likehelpful

Test Engineer - Mountain View location - L4 - 155k base , 15%bonus, total $260k stocks vested 25% at end of year- Am I lowballed and whats best for 6 years experience?

like

I was hired to manage the maintenance program, only to get here and physically do the work. 2 years later and being on-call daily but still expected to burn both ends of the candle and it does seem good enough for the corporate leadership. Collapsed this past Thursday at work and rushed off to the hospital only to find out that it was a stress induced panic attack. Come back to work on Monday only to find that my work load was added to. What will it take?

like

As an O365 Technical Administrator how much salary anyone can expect

Qualification B.A

Certification in IT technical support

YOE 1 year 10 months

last company A start up

How much Anyone expect an IT admin in DXC

Dig this agency, their people and work but is this too soon. When should offices let 25% or more of their staff back?

Post Photo
like

Can anyone recommend a no code tool that’s affordable for home use?

How many of you are enabling BAs or other business users to handle low-code automation?

Hello! I’m gearing up for my year end comp conversation and I’d like to be a better idea of what people are making to ask for a raise. I work for a large asset manager and sell alternative investments (PE, RE, Credit, Infra etc) to RIAs, family offices, and multi family offices. I’m currently an associate, but am hoping to get VP this cycle. Any insight on what your comp looks like and how it’s structured would be super helpful!

like

What’s an appropriate comp package for an institutional investment management company in San Francisco? Interviewing for an associate director role and trying to understand salary.

like

Does LTI gives offer for 2 months notice period?
I had completed my hr round, and hr told she will be ok for 2 months notice period,I had received an Email that I had cleared all the stages but still doesn't hear back from them

like

Larsen & Toubro Infotech Can you please comment whose joining is in December at LTI? Larsen & Toubro Infotech

like

Dear TCS Friends,
What is the difference between C2 grade and C2H. I herd that C2H means temporary job for 6 months. Is it true, and does C2 means also the same? I am joining next week worried if it is temporary job. Please give your inputs 🙄

like

Hi guys,
Need 11 likes to access dm's

Thank you

likehelpful

Looking for a job change . I am working in TCS as a validation Engineer . I hold 3+ experience in testing (Automation+ Manual) . I have worked with various tools as Vector CANalyser, Dspace Automation desk,control desk, NI Xnet, Vspy . If something related to Python , I'll really appreciate
Pls let me know if you have relevant vacancies . Location: Pune

like

Additional Posts in Financial Advisors

What are the best words of encouragement you've received when feeling discouraged about this job?

like

I’ve got $1500 to spend on business development by year end. So, here’s the question. If you were to imagine starting your business from scratch and all you had was $1500 how would you use it?

like

Is the CFA worth the depressing 3+ years of studying?

like

How do you sell the benefits of managed money to your clients?

like

Has anyone used Google AdWords, or hired a firm to target and re-target?

like

Pulling over 2 million this month from fidelity. They have no advisor since the guy on their statements retired 5 years ago. Wtf!?

like

My dials are getting better. But one thing I' m struggling with is the follow up call. I don' t even know what questions to ask. Any ideas?

like

Anyone knows about the base for chase PCA?

like
like

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

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

For those of you who have dropped your series 7 and went fee only, what would you say has been the biggest advantage? I want to be able to truly serve our clients as a fiduciary. Has it been beneficial to your practice?


CFP study programs:

I'm a little confused on Danko - does he offer a self-study option for the coursework requirement? On his website it looks like each module has a 4-day virtual class which I wouldn't be able to attend due to working full time. Does this program also include self-study material, and the classes are just supplementary/optional? I was also looking at Dalton for self-study and Danko for test prep. Thoughts?

TIA

like

How old were you when you bought your first house?

like

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

like

I am interested in speaking with FAs approaching retirement. Many have no continuity/succession plan. I want to help develop that plan and find them a successor. Do you know anyone I can assist?

like

If you were in front of a prospect and you had to explain the benefit to THEM with dealing with an advisor at an Indy firm vs a wire what would you say.

like

Can someone give more information on JPM Private Banker Role Associate Level. I am being offered a 150k base. What is the catch in this role? Can someone give any insights ?

like

Just lost out on two potential clients because they said they were concerned about how many clients I have. Currently have approx 250 households ( Ed Jones speak for mailing groups). I never thought that was a lot but now I am reevaluating. Curious as to how many relationships you all manage.

like

I need some good career-development or finance-related books, anyone got any recs?

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