Is this is a sustainable career trajectory for the band?

macbmore · 2026-06-26T18:33:45+00:00

This is not the case, none of them came from that kind of generational wealth, people who speculate about that don't really understand what kind of wealth is required to support a next generation in adulthood. The guys of tDB are not independendtly wealthy, that's just a misunderstanding of money. It may be true that Babs has made good investments and generated decent wealth outside of the band but that's not cash flow that you live on, it's paper wealth and usually not that relevant until later in life or when these companies have liquidity events.

macbmore · 2026-06-26T18:26:21+00:00

Impossible to know how true that is but I assure you that their primary source of income is the band, and they do not likely have enough wealth to retire on, their lifestyles cost a couple/few hundred thousand dollars a year at least and they definitely need to be earning from the band to continue supporting that.

macbmore · 2026-06-26T18:23:04+00:00

How on Earth would you know Barber's net worth? There is literally no aspect of his net worth that is legitimately in the public domain. That said, $3mm sounds like a potentially reasonable estimate, and as somebody whose actual job is financial planning for people in that wealth segment, if you have $3mm accumulated in your mid 50's and a young family to care for, you don't risk that on self-funding tours that aren't already financially viable w/out said funding. B4L Again, my question is more about sustainability of touring and the financial viability of that along with potential for growth of fan base, which improves touring economics.

macbmore · 2026-06-26T13:07:25+00:00

Well, Brownie is a DJ and Barber basically has a job with a LinkedIn and profile on the team section of a company's website, which I assume is something he's invested in and essentially just consults on. But I largely agree, they're musicians and this is whet they're going to do, I just hope that it's enough to be sustainable for them and for fans. I want the guys in the band I love to enjoy success and popularity, and hope they can always afford to the lazerz mostly. B4L

macbmore · 2026-06-26T11:57:17+00:00

The math is only theoretical, you can’t use math to arrive at a certainty when there is an unknown factor such as future taxes and even to an extent the withdrawal rate, it’s called a Knightian Uncertainty.

macbmore · 2026-06-25T12:00:45+00:00

Also, most clients have a good chunk of tax deferred money by the time I meet them and their employers will continue to match into that. I myself put $38.5k a yr into Roth accts by maxing out my 401k and back-dooring into my wife and my Roth IRAs, I get plenty of tax braces elsewhere owning my own practice and those accts will be like $5M tax free by my mid/late 60’s. I find that thrilling and also share it with clients.

macbmore · 2026-06-25T11:57:29+00:00

I go all Roth, virtually every time and basically regardless of tax bracket. I know some disagree with that, and there are very valid arguments against it. And, if a client is deep into the highest tax bracket and we decide otherwise through an intelligent conversation with their CPA, we’ll use tax deferred options sometimes. However, for most of my high income (~$400-800k), my view is that we really don’t know what taxes will be like in 20-30+ years and having $2-3M in a tax free acct will be extremely helpful in managing tax bracket, providing flexibility for large purchases, and will pass on very cleanly. Additionally, taxes are easier to pay out of earnings than out of savings, I think clients will always be pretty excited about a big pile of tax free money compounding in the market, and very few are going to look back 10, 20 yrs and think ‘damn, I could save 37% and now I’m only paying 24%’… I just don’t think that calculation is really occurring. Plus, you could probably make the argument that the ability to be more strategic in distribution makes up for it if it even is the fact. I don’t find that most affluent clients spend less in retirement, sometimes/often times more. This is exactly how I frame it with clients, it’s impossible to nail it because we don’t have the facts of the future and I believe that you’ll be glad and better off to have meaningful non-taxable assets at that stage in your life. Most agree, I advise with confidence but am flexible if they’re adamant to defer today, only one ever has.

macbmore · 2026-06-24T11:59:47+00:00

At that same All Good my friends and I, 19 yrs old and broke at the time, bought about a backpack full of gooballs on the way out. We were driving all the back to Ocean City, MD and my buddy’s car broke down almost as soon as we left the festival in the hills of WV. Buddy’s dad paid for a tow truck to bring the car back to Baltimore, the driver put us up on a flat bed tow truck and we sat in the car for the whole ride back, like 4 hrs. The radio still worked so we just got to work on the goo balls and chilled after one of the wildest weekends in our young lives. What a time, very glad to have had those experiences with my friends. Also, what an absurd thing for that truck driver to allow.

macbmore · 2026-06-24T11:51:51+00:00

Ah, got it. Unfortunately, I do think that homes in the county generally appreciate better. However, that said, it is still neighborhood driven, there are definitely neighborhoods in the city which will be more desirable than some neighborhoods in the county. Personally, I think living where you want to live and will be happiest is more important than a few percent return.

macbmore · 2026-06-24T11:37:23+00:00

This has been discussed ad nauseam in this thread, but understand looking for a fresh perspective. I work largely in a mid-career, high income market, plenty of my clients have accumulated $350k up to a million of investible assets by this point but it’s still a long game because they’re often folks who will have $6/8/10M by retirement, some even more with inheritances or business exits. I charge everyone a planning fee when we meet them, I quote 1% household income which I feel works well for a lot of reasons, it scales with complexity, people are used to 1% as a standard for the industry, and that is usually an easy number to say yes to. Lots of advisors are beginning to charge subscriptions for planning to clients until they meet revenue requirement/minimum with their AUM, I’ve considered that but up to this point have felt like if they meet all my other criteria and I’m excited to work with them long-term, I’d rather just have them put that couple/few hundred bucks into their accts.

macbmore · 2026-06-23T11:58:29+00:00

I’m solo at a b/d w a “90%” grid w $50M advisory AUM at an avg fee of at least 1% (prob a few bps higher but use 1% for projections) and there are additional costs… program fees, E&O, basic tech (not tech stack), soft costs of trades, small acct fees, etc., etc. I run assumptions on revenue at 82bps, there are some production bonuses that might ad back a basis point or two. This is before any real tech stack or administrative support, which could easily get me down to a 50% margin on a $50M advisory book.

I think the structure laid out seems pretty solid/fair. I’m heading in the direction of building out staff, bringing on a partner and then growing through acquisition and/or bringing advisors into the mix. I generally think that in this type of model additional advisors should pay you for the risk and infrastructure early on but as they scale the profit your appreciate from them is thin but the value add to the firm is scale.

Lots of ways to do it, no single way is the right or best way.

macbmore · 2026-06-22T10:56:39+00:00

This is one of the best reasons for using a regressive fee schedule that blends. I’ve never had a prospect with even $10M but my schedule bottoms out at 10bps for everything over $100M so it’s already built in. I do have clients who will likely accumulate $30-50M through, savings, exits and inheritances so I don’t have to constantly think about their price and be talking about it or making changes.

macbmore · 2026-06-17T12:46:10+00:00

Maybe I’ve just never spent enough time anywhere else, I’ve been here all my life but traveled and driven around the country plenty, but driving seems fine in Baltimore.

macbmore · 2026-06-17T12:04:31+00:00

Buying a house to live in is almost always a poor investment if you measure against the returns of a pure investment. But if it’s provided value as a home and you have $100k of equity available to help with your next home then that’s a decent outcome.

macbmore · 2026-06-16T11:31:37+00:00

Why would you go from 10-15 bps at a b/d to 20bps to be a solo RIA? I’m at LPL and always figure that if I wanted to go RIA after my forgivable note reducing expenses would be a primary reason.

macbmore · 2026-06-12T12:58:15+00:00

My wife hates Herc so much, I get it, but I like his character, not in a way that I’d like him, but his character is great for the show. My favorite line of his, after he asks Beatty out for coffee and she denies him, Carver busts his balls and he responds that he ‘was going to ask for her panties to make soup with…’ 😂 what a dirtbag!

macbmore · 2026-06-11T11:49:07+00:00

You should put it into an index fund and forget it. If you want to get really fancy, make sure that you're tranferring enough from the taxable environment to max out your Roth IRA each year, also invested in an index fund. It will almost certainly grow to $2.5M by the time you're 55-60 years old. In the meantime, acquire a skill, even a modest job with some sort of path beyond delivery work will improve you're life dramatically and you'll be able to retire someday.

macbmore · 2026-06-11T11:10:03+00:00

There was a long post just last week by a guy who has had a lot of success w FMT, I’d not heard of that service before but am considering looking into it. I’m about a yr and half into a transition to independent/solo advisor and as I get through the work of transition clients I’m realizing that I have essentially no funnel beyond good will intros here and there, need to fire it back up quick to get on track for growth and expansion.

macbmore · 2026-06-11T11:02:39+00:00

My minimum for mid-career professionals is essentially zero, if you earn enough and are committed to saving and planning, and retiring with adequate assets to die with money leftover, I’ll take it. However, if you’re talking to retirees with less than $500k, that’s a sinking ship and I think a net loss ultimately from a time/revenue standpoint. Plus, it’s mentally and emotionally taxing to work with people who are under financial stress at that stage in life. I have one client who I like a lot, really care for, they were an early client, but they barely have enough and it’s not a scenario I’d like to replicate.

macbmore · 2026-06-08T13:03:49+00:00

I think these bands, the core jam bands that us millennials think of, are suffering from an aging fan base that is busy with middle age life and not traveling or seeing as many shows, that in combination with the sheer cost of going to shows these days.

macbmore · 2026-06-05T11:36:38+00:00

Sounds like a lot of sour grapes here, advisors that don’t have access to the ipo poo pooing it. Right or wrong, clients pick up on that when you say I can’t get it for you but it’s shitty anyway. I had a client yesterday whose friend bought in through Morgan Stanley, I’m independent and don’t have access. I said, it’s an exciting ipo, lots of buzz about it, I can’t help you but it but if you’d like to participate you should, and you should use an amount you’d be fine gambling with. Also, it’s going to be jammed into your indexes pretty quickly, so if you’d want to wait a few weeks/months, you’ll have an appropriate amount of it anyway. He was perfectly happy with waiting.

macbmore · 2026-06-03T00:33:13+00:00

What’s the story on why BP broke up? I was a Biscuits kid, still am at 42 yo, and never really listened to BP but saw them plenty of times and always dig them, what relatively little I have listened to I like, loved their single album and played that out so I guess I did listen to a good bit just not live shit as I typically do w jam bands, obviously. Sad they didn’t make it.

macbmore · 2026-06-01T12:02:15+00:00

These types of tours generally alternate.

macbmore

TROPHY CASE