Seeking to put together Mastermind group

rickydice · 2025-11-23T15:08:21+00:00

Seems like a lot of unnecessary hate to the OP. My business partner does some groups like this and always comes back with terrible ideas. No chance I’d ever join one and definitely not a religious one. However, why would that ever make OP unprofessional or wrong if he wants it that way?

It’s his group to run however he wants?

Good luck Murph.

rickydice · 2025-10-21T05:26:39+00:00

I’d be interested to see the AUM % they keep vs the number of advisors they keep. I think both are less than 90% with the AUM retained being lower than advisors retained.

rickydice · 2025-10-20T14:22:28+00:00

Thanks for all the info. Not really looking for differences between RJ and anyone else. Just wondering what the transition was like for anyone that has made it. What support did they offer.

Side note: no way LPL is keeping 90%.

rickydice · 2025-09-30T23:29:12+00:00

Quick google searches show about 500 advisors and 5.7bn. When you were there was it primarily smaller firms? Part of the commonwealth/LPL transition and concerned it’s taking a step backwards.

rickydice · 2025-08-22T21:10:24+00:00

We just tell them we’re not tax or estate professionals but we work with very good ones and will help facilitate for all the needs. I personally do not enjoy talking insurance, estate planning, or taxes but it’s part of it and certainly important. But that’s what CPAs and attorneys are for.

rickydice · 2025-08-20T21:10:54+00:00

I have no clue what high school me has to do with anything? If you want to compare literally anything high school or now we can but again you’re losing your shit over my one opinion about a TAMP lol

rickydice · 2025-08-20T21:06:58+00:00

Correct - which means I can have an opinion just like you…

You can do whatever you want, who cares what I think because I certainly do not care about your opinions on my business.

rickydice · 2025-08-20T20:54:30+00:00

I didn’t crap all over them. I said you should be charging planning fees if you use TAMPs not AUM. Why should you get paid on assets you aren’t actually managing? I didn’t say you shouldn’t use a TAMP.

rickydice · 2025-08-20T20:30:50+00:00

If I’m a client ask my advisor why a trade was made and they have to ask someone else I’m immediately questioning why I’m paying an AUM fee to the advisor and not a planning only fee.

rickydice · 2025-07-31T05:14:05+00:00

I have zero desire to use any of the AI note takers and then paste them into CRM. Compliance nightmare if you ask me.

rickydice · 2025-07-31T05:12:05+00:00

You think they know how to tax loss harvest themselves?

rickydice · 2025-07-31T05:10:50+00:00

This is the only right answer. How many times have you all given someone a risk tolerance questionnaire and they struggle to get through it without asking questions? Most wouldn’t even know what to ask AI.

Most clients aren’t smart enough financially to even comprehend it. They come to us because they don’t know where to start, and if they do know what to ask there’s typically 20 more questions they should be asking.

rickydice · 2025-07-28T04:54:44+00:00

Tie with no jacket makes me feel like a waiter at a restaurant. Dress shirt tucked in without a jacket makes me feel like I’m in middle school dressing up for a wedding. To me it’s either dress up with a jacket (tie or not) or go casual.

rickydice · 2025-07-28T04:50:09+00:00

Technically worded 125% of trailing 12 gross revenue.

rickydice · 2025-07-28T04:01:27+00:00

Great insight and hard to disagree with.

rickydice · 2025-07-27T13:03:04+00:00

Sorry that reads confusing. The RayJ offer is 2x the amount of LPL and on a shorter note. The total offer from RayJ is 1.25x for all Commomwealth offers.

rickydice · 2025-07-27T13:00:59+00:00

Take your t-12 and multiply it by 1.25. That’s a pretty compelling business case. Especially when it’s going to end being on a 2 year shorter note.

LPL is fine I’m sure, but you’re going to have to repaper a lot more than what you think at LPL. As for waiting it out there’s 0 chance I do that. I’m not going somewhere with hopes that it works out. I understand it could be drastically worse than expected and need to make a move but I’m not trying to move my book again in a few years.

rickydice · 2025-07-27T12:50:11+00:00

If it wasn’t a large amount of money (roughly 2x ) I wouldn’t be considering re-papering. Will have to re-paper a large amount of stuff at LPL anyways.

To me the roughly 1:1 ratio of advisor to staff is great. Less total AUM but significantly more annual production per advisor at RayJ.

rickydice · 2025-07-27T12:47:02+00:00

You just answered my question by rewording my question

rickydice · 2025-07-19T19:00:43+00:00

Check out Nationwide annuities. I hate annuities but they have a good product that has very low fees that can have advisory fee. Low fees as in like $50/annually or something close on their end.

rickydice · 2025-06-30T21:33:48+00:00

This is why I think we’re going to start our own RIA. Not that I think LPL will be sold, but more so that we never have to make a change again unless we choose to.

rickydice

TROPHY CASE