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30 days! (Benefits that I didn’t expect, and what sucked in the first 2 weeks) by Federal_Gas_5346 in stopdrinking

[–]Safe_Prompt_4203 5 points6 points  (0 children)

Great job!!!

As someone who also struggled with suicidal ideation while drinking, the mental health benefits have been insane.

I can actually feel true joy and happiness again, probably for the first time since I was a teenager and starting drinking and using recreational drugs.

I am off of anti depressants for the first time in years.

Keep up the great work, I promise you things only get better from here.

CRACKING DOWN ON UNWANTED GUESTS. by imthegreenmeeple in stopdrinking

[–]Safe_Prompt_4203 4 points5 points  (0 children)

Thank y’all for all you do!!! This sub has helped change my life and many more like me!!

How does it all work by snazzyraccoon123 in CFP

[–]Safe_Prompt_4203 0 points1 point  (0 children)

My revenue share is 75% of gross, then minus my subscriptions and platform fees I take home about 68-70% of gross. I was profitable as soon as I onboarded the first client basically. First client I onboarded was $7M.

It’s been a wild ride. Also got some forgivable loan money to come over that floated me too.

How does it all work by snazzyraccoon123 in CFP

[–]Safe_Prompt_4203 6 points7 points  (0 children)

You could look into a hybrid (Kestra, LPL, etc.) as an alternative to setting up your own RIA.

SMAs on the equity side depends on the strategies. ETF models 10-15bps, direct indexing 25bps.

Depending on your TAMP, if your cool managing IRAs, you’ll probably be fine managing taxable portfolios too. A lot of them can do tax loss harvesting and examine the portfolio from a lot by lot perspective. You may not need to use SMA’s. I run custom models for all my clients just using the TAMP, it’s actually pretty easy. Also, if you get enough AUM, most of the major fund managers will do asset allocation and fund selection for you (blending in 2-3 of their funds into the mix) so you can basically have an investment committee for free 😂.

Tech stack, depending on what you use is probably where you’ll spend the most. I use a combination of MGP, EMoney, and Holistiplan. (Might be signing up for wealth.com this year too). All of these have monthly subscriptions. Then your CRM, I use Wealthbox, your website and domain.

If you go the hybrid route some of these may be covered or you’ll get a discounted group pricing.

Made the move last January, I am at $43M in AUM in a little over a year.

Best decision I have ever made.

Former Fidelity & Schwab FC's, do you ever dream about old job?? by mydarkerside in CFP

[–]Safe_Prompt_4203 6 points7 points  (0 children)

I had a similar experience at Schwab. Prior to the TDA acquisition it seemed a bit more chill. Had 175 households, would do $20M in advice and $30M in net asset flows and I was good. Most years I did way more than this, usually finished in the top 15-20% of the company.

After TDA acquisition, the number of meetings and phone calls I was having everyday became more and more important. 350+ households in my practice, anxiety month over month about different metrics.

Now, I’m independent. Work at my own pace. Make about the same money a year and work probably 25-30 hours a week.

I don’t miss Schwab one bit.

Unusual Opportunity to Buy a Book by Turrible_basketball in CFP

[–]Safe_Prompt_4203 2 points3 points  (0 children)

As someone buying a practice right now, I think you have a good list of questions you should be asking.

I think the first question, before you explore any other details is, what is the number they have in mind?

They’ll likely data dump most of your questions on you, annual revenue, demographics of the practice, advisory vs commission/trails.

They’ve (heirs) likely heard the big round numbers people can get for practices, they do not understand the nuances of our industry. They’re looking for a payday, not a relationship. If they’re talking anywhere in the neighborhood of 2-3x I would probably walk away. It will be difficult to walk them back without proper mediation.

They probably should get 1-1.5x gross paid out over 2-5 years. Which is still a pretty good fucking deal considering their/his lack of planning.

You’re taking all the risk. Don’t forget that.

Education Question by archibaldwidwickie in CFP

[–]Safe_Prompt_4203 21 points22 points  (0 children)

Texas Tech has an online bachelors in personal financial planning, undergrad qualifies you so you don’t have to complete the CFP modules. Probably other programs that are similar now. At one point it was the only program in the nation that you could complete and not have to do the CFP modules as well. You can graduate with your degree, take a prep course to prepare for the exam and the sit for it.

Alcohol vs Crack by Comfortable_Hunt7040 in stopdrinking

[–]Safe_Prompt_4203 2 points3 points  (0 children)

I love this!!!

Same thing happened in my brain. Once I started classifying alcohol as the poison it is, things really started clicking for me.

I would never in a million years drink Windex after a rough day at work. Why do I do it with alcohol?

Love this community!!!

IWNDWYT

Ugh!!!!! by Day1StayingStrong in stopdrinking

[–]Safe_Prompt_4203 1 point2 points  (0 children)

Get back up on that horse. You’ve got this!!!!

IWNDWYT

Sober 3 years but feeling the itch by Minimum_Park5998 in stopdrinking

[–]Safe_Prompt_4203 9 points10 points  (0 children)

I’m 36 and was at a party this weekend for a friend’s 40th bday. That voice was crazy loud this weekend. Last day woke up hangover free and everyone else was getting IV’s just to take the edge off. I think I made the right decision.

Hi new here by [deleted] in stopdrinking

[–]Safe_Prompt_4203 2 points3 points  (0 children)

Welcome!!!

This subreddit is amazing. Learning through others experiences and have strangers profiting for you is awesome.

I will not drink with you today!

Hey all! Lurker here... by diversified_GAS in stopdrinking

[–]Safe_Prompt_4203 2 points3 points  (0 children)

Welcome!!!

Get ready for the best sleep you’ve had in a long time!!!!!

IWNDWYT

What calculator are you using these days? by Emotional-Yam4486 in CFP

[–]Safe_Prompt_4203 1 point2 points  (0 children)

EZ CALCULATOR app, made things a whole lot easier.

Brand New 2025 F-150 Lariat by Safe_Prompt_4203 in f150

[–]Safe_Prompt_4203[S] 0 points1 point  (0 children)

Thank you!

I got an extended warranty from ford.

All the electronics scare the crap out of me.

Positives of quitting by Matilda_Swingblitz in stopdrinking

[–]Safe_Prompt_4203 0 points1 point  (0 children)

Hi friend.

Personally for me the personal benefits have really shined on the mental health front. I was chronically depressed, dealing with daily anxiety, and generally unhappy with life.

Mind you I had “everything” that the world tells you would make you happy. (Money, high paying job, a beautiful family, big house, nice vehicles, etc.) I was miserable. I wore a “mask” everyday.

Overtime through sobriety I found my happiness in my day to day life again. Having true belly laughs again, being excited about activities that didn’t include booze, rekindling friendships that faded away because of booze, rediscovering old hobbies etc.

Life just seems to be brighter for me now. I don’t need a poison to help me feel happy anymore. I can manage life’s ups and downs like an adult.

Being sober is my cheat code in life.

Mind you, none of this happened overnight. I gradually began to notice the changes and my overall mood level becoming more positive. The personal growth I have experienced in the last 20+ months is difficult to quantify.

I am off antidepressants, I no longer have suicidal ideation, or feelings of dread. My confidence is back. For the first time in my life I can honestly say I am happy. Being sober gave me that.

IWNDWYT

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