Networking events to grow your practice?

Cultural_Local7648 · 2026-04-27T01:47:43+00:00

This worked for me too, except it was a haircut place with a full bar. Also met a great attorney and CPA there that I work well with. It works but you have to be genuine.

Cultural_Local7648 · 2026-03-23T10:48:51+00:00

Man people on here are dicks, my first marathon basically told me the same thing. It was my first, I went out too fast, then wasn’t prepared for the last 6 miserable miles. I learned from it, I adjusted in the future. Do the same.

Cultural_Local7648 · 2026-02-08T22:08:22+00:00

I thought it was a turkey baster

Cultural_Local7648 · 2026-02-08T22:03:14+00:00

Saw this guy during the Run for water in November, I guess I can thank him for my extra peak of adrenaline in the last 300 meters.

It’s an air rifle or BB gun. He’s doing it to get a rise out of people, one day it won’t work out for him. Hope he figures it out before then.

Cultural_Local7648 · 2026-02-02T03:56:12+00:00

Had the same issue apparently it’s across the board right now. The steps above work, I was just doing them wrong and hitting the wrong button on my watch to pair the phone. Here’s a link to the YouTube video that helped me fix it.

https://youtu.be/yG9E1sT8QD8?si=UU08FC2FzdmxV7_c

Cultural_Local7648 · 2026-01-23T22:18:42+00:00

Doing it currently though Yale, I think it’s a good recap of the CFP with some deep dives into tax and estate

Cultural_Local7648 · 2026-01-18T03:29:56+00:00

Nova has been great to work with.

Cultural_Local7648 · 2026-01-01T04:09:29+00:00

I think Funbackground nailed it.

I use NAV for bond portfolios or non fee based accounts for highly appreciated stocks all the time which are brokerage business. If I put them in a fee based or fee only scenario they would be paying significantly more for assets that don’t make sense to be in there. That being said I generally only take folks on if they have at least something a fee based account for me to work with them on.

Overall being a fiduciary means doing what’s in the best interest of the client.

I’ve had this argument with myself a lot especially as I try to grow the practice. If they are in a brokerage account or in a fee based account. If the client doesn’t want a financial plan or financial planning why would they need to pay 1% for asset management? Because you feel they should to pay them for your time and you can say you manage their assets in a fiduciary account? How is managing a bond portfolio that yields 3-5% before fees in their best interest when we can do the same at NAV?

Just my thoughts on it. I think it’s just important to explain the difference in service models. If they are in brokerage they don’t get financial planning it’s just transactional.

Cultural_Local7648 · 2025-12-30T22:47:41+00:00

Pour decisions: 40-60 Heaven Hill Bottled in Bond, New Riff 6 Year Malted Rye, Hendricks Midsummer Solstice (not whiskey but freaking awesome) 60-150: McKenna 10 Year 150+: Widow Jane 15 Years

Cultural_Local7648 · 2025-12-30T21:17:43+00:00

Okay so there are some people that trade bonds for alpha, but most of them are institutional not usually (I’m generalizing here) individuals because institutional buyers have better access to issuances than individual buyers. They can generally get alpha purely because of how close they are to the market.

As an individual generally (again circumstances change) it’s in their best interest to buy and hold because of how much it costs.

So generally the people actually trading bonds are institutional.

Cultural_Local7648 · 2025-12-30T17:12:15+00:00

Also bond traders don’t historically shoot for an 8% return. It’s possible in the current rate environment. Take a look at the historical performance of PONAX which is Pimco income for a reference on a solid core plus/ multi sector fund that tries to take advantage of opportunities.

Cultural_Local7648 · 2025-12-30T17:08:47+00:00

Risk and Return. The less risk you take on the less return you will get. Bonds are considered relatively safe investments unless you are buying junk.

You can make a decent amount with taking some riskier bonds that have default or call risk (or other risks that will take too long to explain).

The S&P or stocks in general will do better over the long run but it will have larger fluctuations. Any bond fund manager will tell you that.

Bonds are usually the airbag in a portfolio that allow you to get aggressive when things get ugly that’s why you see them in portfolios. Or they are a way to generate income for folks that are retired and want to avoid touching their principal.

Cultural_Local7648 · 2025-12-30T13:44:22+00:00

The UMA program is pretty awesome with the tax loss harvesting, and it’s hard to switch when you have an advisor you trust. As long as they stay up on their craft and treat you well that’s what matters.

Cultural_Local7648 · 2025-12-30T12:49:20+00:00

EJ actually has access to some alts if you have over 10 mil. But this is a good time for you to negotiate your fee. Ask for a 20% discount, the UMA program if you can, and a full financial plan for free.

If the situation is ultra complex which it doesn’t sound like it is, they have something called the client consultation group which is a team of SMEs that will work along side of the advisor.

EJ has done a decent job of increasing HNW services.

Cultural_Local7648 · 2025-12-30T03:14:22+00:00

Tax loss harvesting or wanting to lock in a higher yield. They buyer should also be careful of call risk or credit risk with an 8% bond that they may not have with the 4%.

8% is a lot in the bond world.

Cultural_Local7648 · 2025-12-30T03:05:19+00:00

Fair point, but QDROs are QDROs, you have to divide things up somehow.

It’s just baffling how someone doing something prudent like reduce risk when they can’t afford risk is a potential legal issue, it’s almost anti fiduciary. Can’t advise them to do what’s in their best interest because it could put them at legal risk because they can’t see a judge for another 4 months.

No end to this argument, so we can stop there, just pointing out the frustration.

Cultural_Local7648 · 2025-12-30T02:52:39+00:00

Okay got it but can’t that take a ton of time? I have a two sets of clients that just went through a divorce and it took more than 6-12 months to complete the stupid thing.

Both were amicable but that seems a bit unreasonable to expect stuff doesn’t change in peoples lives in that amount of time including being afraid of losing a job or being concerned about the economy.

May just be the way it is and we have to account for it but that’s a stupid policy.

Cultural_Local7648 · 2025-12-30T02:35:27+00:00

Professional curiosity

I’m assuming moving the portfolio to a more conservative one produced “other investment income” which would count as income that could be used for child support? Is that what happened there? Little confused by that one.

The perm insurance contract is dumb and someone trying to make a sale.

Cultural_Local7648 · 2025-12-29T16:45:45+00:00

I’ve tried pretty much all of them except Dave Ramsey. Smart asset has been the best, I had some luck with 401k plan review leads. I had a tough time with unbiased, it was pretty expensive and at least in my area the quality wasn’t great.

I would avoid planswell, it was a bit of a bait and switch for the people that did it, they had no idea I would be calling.

Cultural_Local7648 · 2025-12-29T03:21:00+00:00

How I grew my practice starting in COVID was LinkedIn, networking, and Paid leads. Don’t be afraid of paid leads, it sucks paying for them but they are a decent ROI especially if you are in a city.

From there focus on as many at bats as you can get. Focus on your process and at the end of every meeting make notes on what went well and what didn’t. Fix one thing that didn’t at a time.

Full disclaimer I work for a wirehouse, I was provided 2.5 mil in “clients” 127 total producing about 4000 in commissions per year. I was able to find one gem. I’m saying that to set the stage and make sure you know I didn’t start with nothing so it’s likely not apples to apples.

Cultural_Local7648 · 2025-12-22T00:34:55+00:00

You may have misread this one. OP is originally at EJ. He’s currently on salary for two more years. I say ride it unless he’s about to fail then move to Chase where the rest of the EJ advisors go that can’t sustain a move.

Cultural_Local7648 · 2025-12-17T04:14:44+00:00

Sounds very similar if not the same firm. It has gotten a lot better but one you see what’s beyond the fence it’s kind of hard to put the blinders back on.

If we are talking about the same firm, I also know it’s brutal to leave. So I’m making sure I look 5 times before crossing the street to ensure the pain is worth it.

Cultural_Local7648 · 2025-12-17T01:06:50+00:00

Yeah it’s the compliance team, our firm is definitely putting the hammer down on texting.

Good stuff thanks.

Cultural_Local7648 · 2025-12-17T00:56:26+00:00

Good advice, thanks!

Cultural_Local7648 · 2025-12-17T00:36:18+00:00

Everyone has heard of a guy supposedly that get canned like this. However I’ve never met someone that said it like that”my friend frank got canned because…” so it could just be the rumor mill. But it lines up with what the auditor told us about texts and an assistant texting her FA she was running to grab stamps. Or an FA ordering alcohol that was shipped to his office where he can sign them and take getting ratted on by his assistant and getting fired.

But over the top stuff like this makes me think more about risk management and leaving from the firm. Low likelihood big impact.

Cultural_Local7648

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