Financial Advisors

What are your thoughts on the new 2018 Merrill comp plan? No more bonuses with SGA going away. 3HH requirement to avoid grid reduction. I️ have too many households now! I️ only want $1mm+!

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At best your cash comp stays even. With SGA 1% going away and the shift of another 1% from cash grid to deferred comp, you can only make up that 2% with 5+ gross $250k+ HHs and 5% net growth of your A/L. It will result in a pay cut for the vast majority of ML FAs, particularly those who by choice have limited themselves to only adding much larger new HHs. Bank of America wants more buying units for their high margin bank offerings so HH size is irrelevant to the parent company - banking is about numbers and scale while wealth management is about deeper relationships and personalized service. This culture clash will only get messier with time.

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The future of WM is changing forever. Look at the Schwab/Vanguard models (& the WFC Robo rollout) and ask yourself what are you doing sitting there? Control your Future; Go Indie RIA!

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Sorry bud, ill change it up just for you! Get Happy; Go Indie!

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I have a lot of family accounts so....

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Come to the dark side...go Indy.

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Absolutely correct, why give 60% of your production back to the house when they do nothing (In fact work against you) to help you build/grow. There are so many great options available, but by far the worst option is staying a slave to MER. Control your Future; Go Indie RIA!

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I'm all for RIAs but this guy comment in the same thing on every post is starting to get really annoying^. I didn't know that fishbowl had a signature feature.

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Multiple choices, stay and slow boil and then fade away. Go Indie RIA, grow, flourish, do the right thing for your client, your family and yourself! Control Your Future; Go Indie RIA!

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🖕what he said!

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Love it when external recruiters ask you your salary range and then are like 🤨 and try to get you to ask for a lower range. Girl, bye.

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What’s the bonus % at EY? Ps- i know there’s no PBB this year but wanted to know .

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Additional Posts

All the PM's out there - what level, city, and salary are you at? I feel like PM's reacha certain level and plateau - there's no opportunity to make as much as account(def not creative) is that true?

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I have an interview today, and was wondering if it’s okay to talk about college experiences when asked the standard STAR questions. I have two years of work experience and it’s for a senior role

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Is an MBA worth it? I’m in track for an IT Audit Manager position in the next couple years, have Big 4 experience, and am satisfied with the idea of staying in audit for the foreseeable future (but open to other risk relate roles). Is an MBA going to do anything for me as I look to move up in the audit world in the future? Or should I just focus on doing quality work and not waste my time with an MBA?

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What are some daddy-baby (18 mo) activities you do on Saturday mornings? After travel and working during the week, looking to bond and take him off my wife’s hands for a few hours.

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So is it normal that the client hates me because I load them with a lot of work and expect them to ALWAYS finish on time? We had good relationship during workshop but not so much after execution.

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I passed my final CPA exam!!

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