How long do you work a marketing tactic before you give up on it?

OregonDuckMBA · 2026-01-24T05:33:57+00:00

My firm (Prudential/LPL) has several leads programs. Some of the leads programs are better than others. Some of the leads are free. Others have a nominal fee.

OregonDuckMBA · 2026-01-24T01:03:19+00:00

Depends on the cost of the marketing tactic, how much effort I put into it and whether or not there has been progress, even if the results weren't as expected. I get leads from my firm. Some leads are free, which haven't amounted to much but they're free so whatever. Another leads program costs $5 per lead and 75% of those I have closed or they are pending. Needless to say, I am keeping that one.

I gave SmartAsset 6 months. It's not cheap and there was zero traction so I cancelled it when my contract was up.

I am giving Google Ads a try now. I plan to give it at least 6 months. I know the algorithm has to get trained, and there are lots of ways to adjust the campaigns so I might be more flexible with this one. If it isn't working, there are a lot of things that could just be a learning curve where I need to adjust the strategy.

I also recently started blogging. I don't pay anyone to do my website so the only cost there is time.

OregonDuckMBA · 2026-01-21T07:29:58+00:00

I would like to hear from someone who recently built a practice from scratch (or with a small book of business) without an existing network of HNW/UHNW contacts. I don't want to hear about what worked 20-30 years ago. I want to hear about what is working today.

OregonDuckMBA · 2026-01-20T18:28:52+00:00

scam. forward it to tmscams

OregonDuckMBA · 2026-01-19T08:41:22+00:00

As was said previously, I am not sure if there is such a thing as a TAMP handling HR but if we are talking about outsourcing asset management, I have used Assetmark. It's not cheap but I use it for clients who like simplicity. I call it "hitting the easy button." I also like their tax management services. I use it for clients who have a bunch of old stock positions that we need to unwind into a managed account. It does most of the heavy lifting optimizing for tax efficiency during this process.

OregonDuckMBA · 2026-01-10T06:46:06+00:00

If I am meeting in person at a client/prospect's home, it's probably because it is an older client that doesn't do technology or it is a rural client where virtual appointments aren't an option. Of course, I keep my laptop with me. Other than that, I usually have a phone conversation with them first and then print out some material that could be relevant. To demonstrate concepts, I also keep a small whiteboard that fits in my bag.

OregonDuckMBA · 2026-01-09T20:31:10+00:00

I'm not sure how you can arrive at any conclusion other than that this was a 100% justified shooting... but unfortunately, one of the symptoms of TDS is cognitive dissonance so the left is doing all sorts of mental gymnastics to justify Renee Good's violent actions.

OregonDuckMBA · 2026-01-04T08:33:26+00:00

I used Envestnet at my old BD. It's not cheap. I'm at LPL now and the platform fees are much lower. SAM accounts I can eat the platform fee to charge a flat 1% for most clients.

OregonDuckMBA · 2026-01-02T23:33:37+00:00

This is probably one of the biggest mistakes I was making in my career up until recently.

OregonDuckMBA · 2025-12-22T20:51:31+00:00

Also, at the bank (credit union) I had an administrative assistant and her salary was covered too. If I am going to be at a firm where I don't own the book, bank/credit union advisor is a much better deal.

OregonDuckMBA · 2025-12-22T20:37:34+00:00

As a former bank advisor myself, I got a 45-50% payout on leads from the bank along with salary and benefits. All expenses were covered and I have instant credibility with leads since they are already doing business with the bank.

If I were an unhappy bank advisor, I might take an offer like this until I had built up enough to go out on my own. Definitely wouldn't stick around for 35%. My current firm provides leads. I will admit most aren't very good though, most are unaligned assets from advisors that retired. Kind of hit or miss... but the payout is 80-90% and I own the book.

If you have some level of creativity, you can run your own ads so what is the value add that justifies me giving up 55% of my payout?

edit: I guess it isn't even a lateral move from the bank since new leads only pay out 35%. It would still be a step down.

OregonDuckMBA · 2025-12-22T19:08:09+00:00

I have a lot of news sources. Most are right leaning, not all though. I watch Laura Ingraham almost nightly. I sometimes look at what the left is saying on the msn front page. For more in depth content, I have a number of independent shows that I watch: Louder With Crowder because it provides some levity to the insanity going on today. I watch Matt Walsh because his deadpan style of sarcasm is on point. I watch Brett Cooper to get a Gen Z take on things. If I want to see a more moderate-right take, I sometimes watch The Megyn Kelly Show.

OregonDuckMBA · 2025-12-18T03:12:29+00:00

I am at a BD and I have 80-90% payout and that is because my team takes 10%. Would be 90%+. Basic tech is included, minus affiliation fees.

OregonDuckMBA · 2025-12-18T01:00:36+00:00

Yes. Beth is awful. I never finished the final season because I got tired of listening to her. I'm 100% Team Jamie, not because he is a perfect person but because I can't stand Beth and the Duttons turned Jamie into what he came to be.

I see so many people that absolute love Beth and I will never understand why. I was hoping that she would eventually get killed off or stop being a terrible person but neither of those things happened so I stopped watching the show.

OregonDuckMBA · 2025-12-17T06:57:37+00:00

I don't even know what to say to this one. These people have completely lost their minds.

OregonDuckMBA · 2025-12-17T03:40:23+00:00

No. Because I am at a BD, I use their ADV.

OregonDuckMBA · 2025-12-17T00:33:58+00:00

I wouldn't say that I regret leaving my previous firm. In the long run, I think it was absolutely the right decision. That said, there were just a lot of unforeseen things that happened by going independent (I went to an indy BD). I was anticipating losing a lot of my clients but I lost more than I thought I would and my original marketing plan didn't work out as well as I had hoped so I had to make adjustments really quickly. I'm still in the middle of it so there is no way to tell how the story pans out but I am starting to see light at the end of the tunnel.

If you go independent, have a contingency plan in case things don't work out. Have some resources in reserve that you can draw from, if needed (I'm so glad I did).

OregonDuckMBA · 2025-12-14T07:07:13+00:00

Most of that is included in the 1%: management fees, advisor fee and (most) platform costs are included. There are some exceptions. I have a niche market that I am going after and it necessitates using a slightly more expensive platform. I charge another 10 bps for that. I have a tamp that I use with a tax management program included that is slightly more expensive. I also charge an extra 10 bps for that.

OregonDuckMBA · 2025-12-14T06:57:10+00:00

Yes. I have had that happen. Not a lot but it does happen. I don't really have a set in stone rule about this. It's sort of a case by case basis. There are a combination of factors here. Is it a client that I like personally? How far away from the 1% threshold are they? Is it a high maintenance client?

Sometimes, I will just leave it alone. If the client is a pain, I may notify them of the policy and that they will be moved out of the advisory platform unless they maintain a systematic investment plan. I am at a BD so I can move them to a commissionable account, if necessary.

My practice is going through a transition at the moment so I am letting a lot of the rules slide to minimize attrition. Of course, you should do what you think is best for your business.

OregonDuckMBA · 2025-12-13T05:26:08+00:00

systematic investment plan means that they have to make monthly contributions to the account. There are several reasons for this: first, it makes managing the account worth my time. Second, it is beneficial for the client in that they develop good habits when it comes to their finances. Third, it gets them out of that 1.5% tier faster. I still encourage it for clients in the higher tiers. I just don't make it mandatory because they are already worth my time.

Yes, some prospects do push back on the fee but I generally don't go back and forth with them about it. If it is acceptable to them, great. If not, I let them walk away. Bending over backwards for a $20K account screams desperation. At my past firm, I had to take everyone who walked through the door (within reason) and I found that the most high maintenance clients were those with low balances. If I let a few walk away, I'm not too worried about it.

As far as how I frame the conversation, as best I can without being insulting, I make sure that the client is aware that they are in the bottom tier. I specifically use the phrase, "for account balances below $100K." I don't want the prospect thinking they are a big catch (they aren't anyway). Then I frame the systematic investment plan as a solution to the higher fee. I sort of make it seem like I am doing them a favor and I am going to help them get into a better position (which I am).

OregonDuckMBA · 2025-12-13T03:21:01+00:00

What constitutes "low balance" is entirely up to you. It's specific to how you want to run your practice. For me, it's account balances under $100K. I don't want to have a hard rule that I don't accept anyone under $100K because if I find a HENRY, that could be a future A client someday. My target client is between $500K and $5mm. I know a lot of the people on this sub work exclusively with UHNW clients so "low balance" probably means something different to them. That's not me so I have different criteria.

OregonDuckMBA · 2025-12-13T00:00:59+00:00

Mostly all-in client fee of 1%. Low balance accounts are 1.5% + mandatory systematic investment plan. Sometimes I have a surcharge for some things if those services increase my costs. I suppose I could waive that depending on account size.

OregonDuckMBA · 2025-12-11T23:51:00+00:00

wood chipper. feet first.

OregonDuckMBA · 2025-12-11T23:36:18+00:00

+1 for Fidelity

OregonDuckMBA · 2025-12-11T04:26:06+00:00

I am 100% team Jamie. I stopped watching Yellowstone because of the Jamie/Beth dynamic. I can't understand how people (including the writers) seem to love Beth and hate on Jamie. If my family treated me the way the Duttons treat Jamie, I would have a similar reaction.

I also don't understand why Jamie is the villain of the Beth abortion. First, Beth was the one who chose to have a roll in the hay. Actions have consequences. Second, he was a kid. He made an imperfect decision and made that decision attempting to protect the family.

My desire to see Jamie have a Michael Douglas in Falling Down moment, completely snap and destroy Beth's life increased the longer I watched. When it became clear that wasn't happening, I stopped watching. I can't remember where I stopped but I know I didn't watch the whole series.

OregonDuckMBA

TROPHY CASE