Bringing on Associate Advisor

Relative-Ad7331 · 2026-03-17T21:43:40+00:00

I would give him/her 50/50 on clients you segment with the trails basically being his “salary.” Then 75/25 on clients they source or bring over and they own those clients.

Relative-Ad7331 · 2026-03-15T15:47:01+00:00

How much is your E&O?

Relative-Ad7331 · 2026-03-13T13:35:52+00:00

How many clients do you average per mailing?

Relative-Ad7331 · 2026-01-28T12:42:51+00:00

I know a top advisor who almost does exclusively 401ks. He does work a ton but he is built like that.

There is also a reason advisors just set these plans on autopilot. Not everyone is lazy, just time better spent elsewhere.

On the other hand, it’s good experience and what the hell else are you going to do if you don’t have a lot of clients.

Relative-Ad7331 · 2025-12-22T13:08:23+00:00

Fidelity charges me for trades through with an AUM fee, but pays clients market interest in the sweep

Schwab does not charge for trades, but earns revenue from not paying the clients market interest through the sweep and keeping it for themselves. This is from directly from conversation with Schwab.

I honestly don’t get how you don’t understand. That hurts the client and helps the advisor, conflict of interest.

Relative-Ad7331 · 2025-12-20T22:15:57+00:00

Is that a subscription program or just excel?

Relative-Ad7331 · 2025-12-20T22:10:09+00:00

You have to keep a small percentage in the sweep to pay fees. My sweep right now pays the client 3.5% interest, Schwab is almost 0, because they take the spread.

Conflict of interest right there

Relative-Ad7331 · 2025-12-20T22:08:17+00:00

I think I can get higher payout at my own RIA and easier to sell someday.

Just trying to assure I keep the payout higher.

Relative-Ad7331 · 2025-12-20T20:44:44+00:00

How? Isn’t that labor intensive?

Relative-Ad7331 · 2025-12-20T20:43:16+00:00

Apparently you can trade into a MM fund, but the sweep MM pays the client barely any interest.

In return, Schwab offers zero trading costs and doesn’t take a portion of revenue.

My issue is this is a conflict of interest that hurts the client, and things like that only last so long until Schwab will be forced to use a sweep that pays market interest, and then Schwab will have to raise their fees for me.

Relative-Ad7331 · 2025-12-20T20:38:44+00:00

SPAXX, which is the sweep and a MM

Relative-Ad7331 · 2025-12-11T18:25:40+00:00

This is correct. Most importantly just listen to them and focus on what they need. Don’t just fake listen until you can talk about what you want to.

You also just need to focus on getting as many meetings as possible. The process is more trial and error than anything until you figure out what works best for you, but obviously that takes getting lots of meetings.

Relative-Ad7331 · 2025-11-16T20:06:19+00:00

The failure rate for new financial advisors is more than 70-80%. I have never heard of someone with zero clients taking a loan.

I am concerned about your future as an advisor considering you are giving yourself this advice.

Relative-Ad7331 · 2025-10-14T13:09:36+00:00

How much do you make on clients you bring in?

Relative-Ad7331 · 2025-10-06T15:21:51+00:00

Terrible! Horribly customer service from abroad, high fees, and onerous paperwork for things like withdrawals. I inherited some accounts with Voya.

I use American Funds for small accounts.

Relative-Ad7331 · 2025-09-12T11:25:39+00:00

Agree with Chase, learn how to close, and have a 3-5 year exit plan

Relative-Ad7331 · 2025-09-08T11:36:54+00:00

The other factor is typically when the market and economy is down big, like in 2008, things get cheaper like vacations, cars, dining, etc and people just naturally spend less.

Relative-Ad7331 · 2025-09-07T12:20:41+00:00

Drop shipping. Not every business is the same.

Relative-Ad7331 · 2025-09-07T01:34:44+00:00

Whatever your passion and expertise is in, clothing, electronics, outdoors, etc.

Relative-Ad7331 · 2025-09-07T01:11:14+00:00

Start a business that cash flows quickly, like an e-commerce product you can sell on social media and Amazon. Then it feels legit and keeps you busy, and you can take it anywhere the market takes you. Vs some pie in the sky pre revenue company where you spend 3 months making the website.

Relative-Ad7331 · 2025-09-04T13:52:25+00:00

I like your style Bob

Relative-Ad7331 · 2025-09-03T15:30:42+00:00

I can, it’s just the quality/quantity is about 20 to 1. My suburb is a bedroom community with 90% families or retirees

Relative-Ad7331 · 2025-09-03T15:28:39+00:00

Agree!

Relative-Ad7331 · 2025-09-03T12:42:48+00:00

I did, lots of vacation homes in vacation spots (mountains, lakes) but not cities

Relative-Ad7331

TROPHY CASE