What percentage of your a share accounts are you converting to managed accounts?

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None. I sell against fee based and bring in 30 million a year doing it. It’s so easy. Hey, I can save you 10k a year on your million dollar account.

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If a client already paid an upfront sales charge on A share and then you are moving them to fee based be weary. That is something on the regulators radars now. A shares can be cheaper than advisory once the up front sales charge has been paid and if those accounts get moved to advisory but don’t really belong there (client is more buy and hold) that could be a problem

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100% on IRA business. A lot less on none qualified.

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FA1, how do you save million dollar accounts 10k? Are you using just A shares at Nav?

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You should not have any A shares in advisory. They should be converted to I (or the share class that doesn’t have a 12b-1). But honestly, if you have a buy a hold strategy client, they should never be in advisory.

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Good for you FA1, and who said passive investing is dead?

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Even at nav he isn’t saving them 10k

Nav into American funds. Average price .40 bps. Saving them usually more than 10k after including internal expenses. I have entered a circle of million dollar accounts and I keep getting referred.

The average 1 mil account fee around me is about 1%. That’s 10k a year. Then mutual funds average is .5 to .7

If you have people around you charging 1% for buy and hold, you should be taking all those assets!

We are RIA and a $1mm account would pay $8500. I don't think you'll save my clients $10k a year... unless you are paying them to be your client.

Your 1 mil account is ALL IN at 85 bps?

Yep

That’s not the case around here at all

We are 75 bps all in, but I agree with FA1. It certainly matters where you are.

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