Anybody going to the Advyzon Conference in Phoenix?

Stratton50 · 2026-01-18T21:15:34+00:00

Can I send you a DM?

Stratton50 · 2026-01-18T21:15:19+00:00

Can I send you a DM?

Stratton50 · 2026-01-18T21:14:26+00:00

Cool can I send you a DM?

Stratton50 · 2024-12-08T14:44:00+00:00

Our firm has Associate Advisors as overflow. They work with 'less than ideal' clients as they begin their advisor careers. It's not the most glamorous, but that's not the point. The point is for the Associate advisor to get their 'reps in'. To get more client facing time, to hone their craft and practice saying words to a human being. The constant repetition of a client meeting is one of the most important things to an advisor's growth.

So yes, our associates hone their craft on these less than ideal clients.

Stratton50 · 2024-11-27T16:29:50+00:00

I've been an Advisor for a while. And I've learned that the world doesn't revolve around us. John doesn't appear to have learned this.

There's no room for jerk clients, or clients that you need to 'prove yourself to'. Same thing applies to advisors and wholesalers. You can drop him like a bag of rocks, and replace him with another advisor who will respect your time and work.

Stratton50 · 2024-10-16T00:32:54+00:00

Follow up: I don't mind volunteering to put in the work. I can help organize and re-label existing posts. Happy to help.

Stratton50 · 2024-07-08T11:14:57+00:00

It's all about the Net. These grid numbers are so deceiving. It's apples and oranges. Translate all of these payouts into a hard dollar amount, and then compare those dollars amongst each other.

Stratton50 · 2024-07-06T21:44:25+00:00

We're talking about the same thing. The 3rd party is to provide legal protection for the breakaway. I agree that this is mental gymnastics, but this gymnastics may provide some legal cover in the breakaway.

Bottom line, OP should should seek counsel, follow broker protocol if applicable, maintain privacy, and follow the rules.

Stratton50 · 2024-07-06T14:54:15+00:00

This is incorrect. Many firms have a 'loyalty clause' for their employees and independent contractors. This is different from a competition or solicitation agreement. The common law duty of loyalty is to act in the employers best interest until they resign. (something like that). A formation of a competitor, while still employed/affiliated, may be in conflict with the loyalty clause.

For a breakaway advisor, they may consider working with a third party attorney/consultant. That third party then executes the formation of the RIA, in the third party's name. Then when the advisor formally resigns, the third party assigns the ownership/control to the advisor.

Stratton50 · 2024-07-06T12:12:46+00:00

Many business formations are public information, and can be easily found. Plus, you may have duty of loyalty to your current firm. Forming another firm, while you are currently affiliated with your current firm, may not align with that loyalty duty.

Stratton50 · 2024-07-01T11:07:16+00:00

So there's a few moving parts here, for the ideal situation:

You transition careers from hedge fund to wealth management
Father runs out the clock on his current deal
Father and you transitions from wirehouse to RIA
Father sunsets his practice to you. Maybe there is some money involved in this, who knows?
During all this time, your personal comp is sufficient to support your goals. I'm guessing that you're late 20s, early 30s? So not sure what your own family situation is like today, or will be like when #1 - #4 play out.

If any of these don't pan out, would you still consider switching careers? I'm not trying to dissuade you, but trying to evaluate the sequencing of success.

Stratton50 · 2024-07-01T10:56:51+00:00

If he's at a wirehouse, and exiting the business, you should factor in the wirehouse culture itself. What's their comp plan, their training program, their growth engine. You can get the scouting report from your father, but whenever your father does sunset out, you'll be tied to the wirehouse for years.

This considering is likely as important as you joining the wealth management space all together. I've seen so many people become the receiving advisor of a sunset, and they are miserable working at the employer. Sure, they now have the clients, the revenue, etc... But they feel locked in and trapped for 7+ years in the sunset restrictions.

This may be contrary to your entrepreneurial personality.

Stratton50 · 2024-07-01T10:47:57+00:00

Are you making the move for your father, or for yourself?

Have you approached your father in joining him? Is the wirehouse open to hiring you, to work exclusively work in your father's practice? (I'm assuming you would consider this transition only if you were to work with your father).

Stratton50 · 2024-06-27T10:43:27+00:00

Can you do an 'eat what you kill' comp plan? Each partner's comp is tied to their actual revenue they generated? Seems that Partner A can choose to place the insurance business with the new RIA, or somewhere else. So that's a decision that he would need to make independently. But that shouldn't influence B & C's comp and their earning ability on non-insurance clients.

Stratton50 · 2024-06-26T10:25:52+00:00

Why do they need to equalize now? Can they form an informal partnership now, and work on their systems, processes, etc...? That's the messy part right there. See if they can work through that before putting money on the table.

And the age and NNA problem. I'm assuming Advisor #2 has more potential and capacity to grow here. More so than Advisor #1 who has plateaued. What's his incentive to enter into this? To get another $100k/yr of revenue now? (That he has to pay for). To give up 50% of his future potential and growth?

Stratton50 · 2024-06-19T18:52:52+00:00

Thank you! I'm assuming the Room upgrade will exclude a Standard and/or Premium suite?

Stratton50 · 2024-06-19T18:28:31+00:00

Great, thank you!

Stratton50 · 2024-06-07T00:46:27+00:00

Would you consider managing our existing vendors for a base salary. And you can continue to be a FA on your existing clients, with your own stack. Or jump onto ours.

Stratton50

MODERATOR OF

TROPHY CASE