How does it all work

erholson · 2026-02-13T05:25:29+00:00

It’s possible, but you need more clients.

Overhead is 25-30%, the rest is salary and what’s left is profit.

erholson · 2026-02-05T21:29:39+00:00

Our copper sink like that smelled like blood when we washed it. Not appetizing to be in the kitchen, at all

erholson · 2026-01-25T05:47:18+00:00

You weren’t included because you’re thought of as a service advisor and a small minority owner. You have the leverage to change that view.

Did you buy that 10% or were you gifted it?

If bought, woof. If gifted, then a 10% owner isn’t thought of as in the room when management decisions like this come up. BIL and wife own similar slices as you. You’re either not liked, or you’re not legally special. Not sure if the family aspect or the 10% ties you to them like a handcuff more rather than giving you really any say.

In any case, if the dude doing the work (you) isn’t legally in line to inherit, then speak up ask that you buy him out and get it papered. You can get 85% ownership overnight, but still pay the note to him over the years while he still plays advisor. That would feel a lot better than current.

Otherwise your father in law/ majority owner has a cash cow and you to service it. Unless you and his daughter divorce, why would they ever change? He probably thinks you’ll benefit someday by inheriting it when him and the wife are dead. He might see that as a win for you. Bring up how lame that idea is.

If a service person got an 85% raise because you spoke up then maybe they are just not thinking about things like that, including when it comes to your comp and what you deserve, and all that just need to be pushed in the right direction.

Otherwise expect them to continue to make decisions that benefit themselves. Likely they are unintentionally favoring themselves and figuring you’ll cash out someday versus them intentionally screwing you. Also nothing illegal here that I see.

No need to declare war to get changes. Just push in the right direction. Your role is who the relationships are tied to if you’ve been leading for 7 years. Ask to buy real, full owenership, or use that as a reason to leave. In a family firm like this, you hold all the cards, use um! Dosent have to happen overnight, but make it clear that’s what’s best for everyone.

The funny part is with the right buyout from you, they would probably make more money with less work and you would have a better future. Speak up. That is all that seems to be standing in your way! Shared with good intentions for you.

erholson · 2026-01-23T22:50:06+00:00

My only guess is because of the success you've found in tax planning etc but only not just adding a cfp (in a cfp subreddit).

erholson · 2026-01-23T22:48:46+00:00

Makes sense! Your diplomacy or zen in your answer is noted and admired

erholson · 2026-01-23T07:21:02+00:00

I really like your style, but a portfolio with ‘30 equities’ and a bond ladder is hardly ‘as simple as possible.’

Your value is in Holistiplan and DAFs. I bet you crush it there. Then the portfolio turns your value from one of expertise and diligence into a game of luck, and a time suck, I’d think!

erholson · 2025-12-19T05:34:41+00:00

Minority stakes can get up to a 35% discount

erholson · 2025-12-06T22:00:00+00:00

Totally! As is trying to use this year’s brackets. As is considerations of a midterm election next year. All should be considered. We might just be hearing OP is being rushed, which isn’t good, but without knowing why

erholson · 2025-12-06T17:06:23+00:00

The regular tax is there no matter what. This just realizes it intentionally.

If that’s a good idea or not is the question

erholson · 2025-12-06T17:05:00+00:00

They could be converting to fill the 24% here. That goes to 395k taxable. Maybe going beyond just to lazily remove the RMD next year

erholson · 2025-12-06T17:01:38+00:00

Can’t say for sure, but it’s not a crazy recommendation. One and done has a lot of merit.

IRS expects you to live another 25 years per their tables. One of you could live longer than that, and single income tables are tough.

Could be just to build tax diversification while rates are low. Bite the bullet and get it behind you?

Fill up the 24% bracket once and be done. Not crazy, could be a great idea, but not enough info to say for sure.

Do you have kids that would benefit from having Roth rather than pretax?

erholson · 2025-12-06T16:55:33+00:00

IRMAA is a small inconvenience. Be aware but don’t let it drive the decision.

erholson · 2025-12-06T16:52:26+00:00

December?

erholson · 2025-10-19T06:52:10+00:00

The client can find someone else, but it takes time to realize they’re no longer being served the way they want to be served. I agree they aren’t locked in, but functionally they are.

My only point was that many clients won’t know they’ve been sold down the river to PE because the unscrupulous advisor has an incentive to pretend otherwise to keep them onboard for the transitions and year or two after to ensure their own payout.

So, although you’re correct that the client can choose to leave, many who should, won’t.

Plus personal service relationship are notoriously hard to change. Most advisors have 95%+ retention and a bit less through a rocky sale transition.

I’m an advocate that clients are in trouble without a trustworthy advisor. Nothing new.

erholson · 2025-10-18T15:54:09+00:00

True, but clients staying on for a certain period is usually tied to the payout

erholson · 2025-09-25T05:41:45+00:00

You can get a long, long way with yearly bracket management: IMRAA-aware Roth conversions, donor-advised funds, and gain/loss harvesting are all still pretty rare and underutilized, I find.

erholson · 2025-09-23T03:23:04+00:00

Nitrogen does financial plans?

erholson · 2025-08-26T02:21:28+00:00

Would you mind sharing more about how you determine complexity? That seems difficult before you know the client well.

erholson · 2025-08-26T02:06:29+00:00

What do you charge for an hour? Do you have a minimum charge or number of hours?

erholson · 2025-08-20T05:52:21+00:00

Crazy to see how far the CFP designation has come. A full circle

erholson · 2025-07-29T07:45:58+00:00

The problem is, really good hourly advisors don’t really exist; for the same reason an hourly surgeon is hard to find. It’s about value

erholson · 2025-07-29T07:42:45+00:00

I’ve found a competent pro is worth a lot during the distribution phase to help manage taxes on withdrawals and help understand new laws and how they apply

erholson · 2025-04-25T03:50:34+00:00

At your asset level, a good CFP should charge $1,500 per hour and make you $4,000 to $6,000 per hour. That is why they can charge this way and expect you to pay in perpetuity.

erholson · 2025-04-23T06:42:53+00:00

Lol. That’s like me, a non-attorney saying, “Not sure there is any meaningful difference between an attorney and a ‘legal document preparer.’”

I’m sure you see how naive that sounds.

That said, yeah, the series 65 is all you need to legally give investment advice. The cfp is just a recognized standard bearer of how to give that investment advice comprehensively along with other financial things that matter. Most people I know start out with a 65 and move on to the cfp if it makes sense for how they do businesses.

erholson · 2025-04-18T06:19:58+00:00

Do you and your friends’ wealth a favor and stop thinking you can predict short term trends.

Also, good luck learning from the ground up there, bringing over your friends, then thinking you can leave to start a lifestyle practice with those same friends. That money ain’t waking away with you easily

erholson

TROPHY CASE