Reveal current salary?

This is a sales job.  Salaries are for people who can't live off the work of their hands (ie: comissions)

You emphasize salary, and that means you don't believe in yourself.

A trainee should not expect more than $40k their first year in salary.

[quote=maybeeeeeeee]

A trainee should not expect more than $40k their first year in salary.

[/quote]

I know lots of people who get much more than that.  I know a guy who was given a red ink draw of $10,000 per month for two years because he made a compelling case for why that was necessary and why he was worth it.

No trainee will EVER get 10 k a month for 2 yrs! That was the original question wasnt it?

I started at an RIA and my salary was $50K/annum + 25% bonus.

[quote=tentative]I started at an RIA and my salary was $50K/annum + 25% bonus.[/quote]

Thanks for the input.  Pardon my ignorance, but isn't every FA an RIA?  I'm new to this game.

Opie -



No - every FA generally is considered to be a registered representative of

a broker-dealer firm. You may use the word ‘Advisor’ in many senses of

the position, but a ‘registered investment advisor’ is not the same.



An advisor who STARTS their own firm, generally will start the firm as a

Registered Investment Advisor (RIA) and is regulated by the SEC, and not

the NASD (which regulates broker-dealer firms, which in turn also

regulate registered reps).



So, to directly answer you question… No, FA’s are not RIA’s.



Individuals who work at an RIA firm = investment Advisory

Representatives



Individuals who work at a broker/dealer = Registered Representatives.



An RIA firm would be akin to a fee-only investment advisor (like Mom and

Pop Investment Advisors LLC)



A broker/dealer firm would be, generally, a firm which offers a fee or

commission-based relationship. (i.e. Merrill Lynch)



C

Thanks Captain - good info.

Is there a list out there of RIAs?  For instance, is Raymond James considered an RIA?

RIA's offer advice as their product.  B/D's sell products and give advice relating to those products.

There is a fine line between an RIA and a B/D.  An RIA is held to a fiduciary standard a b/d is not.  So many firms that sell stuff do not want to be held to a fidiciary standard because alot of what they sell is junk.

The problem I see with the RIA business is alot of investors are fee conscious and 1% on 1 mil.. is 10,000 a year...  easy come easy go. 

The best place to find a list of RIA's is to check out the FPA or NAPFA most of these advisors are CFP's or CHfc, CLU's

[quote=bankrep1]

RIA's offer advice as their product.  B/D's sell products and give advice relating to those products.

There is a fine line between an RIA and a B/D.  An RIA is held to a fiduciary standard a b/d is not.  So many firms that sell stuff do not want to be held to a fidiciary standard because alot of what they sell is junk.

The problem I see with the RIA business is alot of investors are fee conscious and 1% on 1 mil.. is 10,000 a year...  easy come easy go. 

The best place to find a list of RIA's is to check out the FPA or NAPFA most of these advisors are CFP's or CHfc, CLU's

[/quote]

The misinformation, and outright stupid comments, in that are awe inspiring.

Anybody reading this should immediately forget what this fool is saying.

You can get a list of RIA’s by using the SEC’s website. The site address is

follows:



http://www.adviserinfo.sec.gov/IAPD/Content/

Search/iapd_OrgSearch.aspx



In response to a few comments made above. There are several large

firms that are held to both standards and ARE considered fiduciaries. I’ve

seen it at my old BD firm (large wirehouse) and can assure you that large

firms which are both RIA’s and BD’s are held to a dual standard. For

those advisors who are acting as fee-based advisors for a fee-based

client, the standard of care is elevated in terms of whether or not you are

considered to be a fiduciary. I’ve seen the ‘checklist’ from my former

firm, and yes, you are a fiduciary… straight up.



I agree… investors are fee conscious, however, the fees on investment

products (i.e. funds and annuities) can be drastically lower within a RIA

platform than any type of wirehouse’s bundled fee-based solution. That

being the case, I’m certain that the operational efficiencies and lower-

expense funds offered through an RIA platform can mitigate many of the

objections that larger investors may (I really mean ‘may’…) have for

advisers charging 1% on millions under management.



I’ve used the Davis funds for years. When I did the RIA thing, I found out

that they wouldn’t even touch a portfolio (managed portfolio, that is…)

without charging 1% as a base fee with a $10 million minimum. Takes

balls, but if you have a good service, it’s worth 1% on virtually most

portfolios (until you get to $20 million perhaps.



While I’m not sayng that BD firms which offer RIA services are for sh*t, I

will say that the ‘pay for play’ arrogance is getting a bit old.



C

As for whether or not Raymond James is an RIA…



If they offer a ‘fee for advice’ program, then yes, they are also dually

registered as an RIA.



There are two types of programs, which are fee-based, that exist…



1.) Fee for advice - Those allow the advisor to charge for advice ONLY.

2.) Fee in lieu of commissions - Those allow for the firm to charge an

asset-based fee in lieu of charging commissions.



To address #1 - A fee for advice program will HAVE to adhere to a

fiduciary standard. I believe those types of firms are still regulated by the

NASD (this is hotly debated right now…). The firms will then be a sponsor

of a ‘wrap-fee’ program, allowing for the advice and trading costs to be

bundled within one, simple, asset-based fee. They are 99% of the time

non-discretionary investment programs where the client STILL needs to

give the ultimate ‘yes’ or ‘no’ answer to each and every trade you effect

within their account.



To address #2 - A fee in lieu of commission account (which many firms

are getting rid of, by the way…) is a program which allows the client to

maintain a certain amount of expense, while having a seemingly

unlimited amount of trading (there are restrictions on the amount,

generally). The problem here was that advisors were charging a fee, and

there were no trades being done. In many instances, clients within a fee

in lieu of commission account were overcharged for the level of activity.

This caused most firms to question the programs and to initiate a ‘fee for

advice’ program which wasn’t dependent on the level of trading activity.

Fee for ADVICE is dependent on providing the advice, due dilligence and

communication to the client (those, instead of ‘trades’ were the

deliverables for clients within those programs).



The only firm which may not be registered dually as an RIA would be

Edward Jones. I’m thinking that you will find that MOST firms will offer a

fee for advice program which WILL render them as RIA’s in addition to

Broker Dealers.



It’s a convoluted issue, but the distinction is clear.



I’ve recently founded my own RIA, and have worked at a wirehouse also.

I’ve researched this for years, and feel that I’ve got all the information

covered.



I will say that forming your own firm and keeping 100% of the fees billed

is a rather good way to go.



C.

[quote=Big Easy Flood][quote=bankrep1]

RIA's offer advice as their product.  B/D's sell products and give advice relating to those products.

There is a fine line between an RIA and a B/D.  An RIA is held to a fiduciary standard a b/d is not.  So many firms that sell stuff do not want to be held to a fidiciary standard because alot of what they sell is junk.

The problem I see with the RIA business is alot of investors are fee conscious and 1% on 1 mil.. is 10,000 a year...  easy come easy go. 

The best place to find a list of RIA's is to check out the FPA or NAPFA most of these advisors are CFP's or CHfc, CLU's

[/quote]

The misinformation, and outright stupid comments, in that are awe inspiring.

Anybody reading this should immediately forget what this fool is saying.

[/quote]

BEF,

What specifically do you think is misinformation? 

[quote=Captain]



An RIA firm would be akin to a fee-only investment advisor (like Mom and

Pop Investment Advisors LLC)



A broker/dealer firm would be, generally, a firm which offers a fee or

commission-based relationship. (i.e. Merrill Lynch)



C[/quote]



Merrill is considered both.

[quote=bankrep1][quote=Big Easy Flood][quote=bankrep1]

RIA's offer advice as their product.  B/D's sell products and give advice relating to those products.

There is a fine line between an RIA and a B/D.  An RIA is held to a fiduciary standard a b/d is not.  So many firms that sell stuff do not want to be held to a fidiciary standard because alot of what they sell is junk.

The problem I see with the RIA business is alot of investors are fee conscious and 1% on 1 mil.. is 10,000 a year...  easy come easy go. 

The best place to find a list of RIA's is to check out the FPA or NAPFA most of these advisors are CFP's or CHfc, CLU's

[/quote]

The misinformation, and outright stupid comments, in that are awe inspiring.

Anybody reading this should immediately forget what this fool is saying.

[/quote]

BEF,

What specifically do you think is misinformation? 

[/quote]

Everything.  Nothing you said is factual, and some of it is downright stupid.

Where in the world did you come up with the idea that a broker/dealer does not have fiduciary responsibility--and that they like it that way so they can sell junk?

That is awe inspiringly stupid--and indicates that you don't have the most basic idea about this industry and how it works.

Let somebody who knows what they're talking about weigh in on this RIA discussion.

A registered investment advisor is more commonly called a "money manager."  They do not sell advice, they manage money.

What several of the "experts" on this forum are describing is a "Fee Only Finanical Planner."  People who will, for a flat fee, advise a client what to do with their money--but will not actually sell the various things to them.  They do not require licensing because they don't sell, and they are very unregulated because the NASD has no reach since they don't sell.

Basically if you want to be a fee only advisor all you need to do is open an office an run an ad in the yellow page.  Organizations like The Financial Planning Association have designations and things such as "The Registry" which are lists of people who have met various qualifications--but none of them are mandated so an individual may or may not end up with somebody who knows anything at all.

This is not the world of brokerage firms, insurance companies and financial planners such as the many "indy" firms that are out there.

Let's go there, let's go to Merrill.

There is a concept called "wrap accounts" which is the idea of allowing a single firm--say Merrill--to manage all your assets for an annual fee which is a percentage of the assets being managed.

When that arrangement is entered into Merrill will be acting as a Registered Investment Advisor.  Somebody in New York, or other regional offices, will be your teammate and they will call the shots for your client.  You will be expected to act as a buffer between the client and the individual RIA in New York.

There are also independent RIAs out there--lots of them.  They work out of very fancy offices in cities and towns all over the country.  Their goal is to attract the pension fund market as a client.  They will earn a percentage--less than 1%--of what they manage for the pension funds and other types of institutional investors.

They have salespeople who go out and call on the target markets.  They also attempt to arrange relationships with independent financial planner types.  They may be called something like Smith and Wesson and operate out of the nicest office tower in town.

Enter Series 65 or Series 66.  These are two relatively new--say 15 years now--exams that are designed for the major purpose of getting testing fees for an organization known as the North American State Securities Administrators Association or NASSAA.

These are the fifty state securites commissioners who regulate the RIA business.  Depending on how many clients the RIA has, and how much money they actually manage, they may be too small for the SEC to be concerned with--but somebody has to be concerned with them so the states are.  A lot of this is what Series 65 and 66 is all about--learning when the SEC is involved and when the states are involved and stuff like that.

Anyway, in order to enroll a client in a wrap account--or any of the other arrangements where there is an RIA in the mix--you must qualify as an IAR or Investment Advisor Representative.  You do that by passing Series 65 or 66.

What is Series 63?  First, it's an old test.  Been around for decades.  It is the exam that allows you to be "legal" in a state.  Years ago each state that required a test--not all do, Florida for eample--had its own test and you might find yourself being tested twenty, thirty or more times.  Some of the tests were easy, others were tricky, others were damn hard.  Utah required you to take the test in Utah, so if you were a broker in Boston but had a client in Utah you had to get on a plane and go to Utah to take a silly test.

Texas asked "What is the county seat of Bexar County?"  Stuff like that.

That was all "cured" by Series 63 which came along in the mid 1970s.

These days what most rookies do is take a Series 6 and 65 or a Series 8 and Series 65 or 66.  The Series 63 is covered by passing a Series 65 or 66 in the sense that paper covers rock, and is rarely suggested by firms who are not trying to get  you registered as soon as possible because you're actually nothing more that the latest body to come through their revolving door.

Let's get back to RIAs. They are not broker/dealers, although the big broker dealers all have an RIA division.  Legally they are completely separate organizations.  Merrill Lynch is a holding company that owns Merrill Lynch the brokerage firm, but it also owns one or more RIAs, a clearing firm and lots of investment banking firms that operate as separate entities.

It will be suggested that your clients at least consider the pros and cons of paying a one time annual fee to have their money managed by an RIA.  In return there will be no other charges for the account for the year.

The argument against it is that for an awful lot of people the annual fee is more than they would pay for the various charges because they don't really incur that many charges.

It's not unlike a restaurant that has a fixed price dinner.  For $40 you get an appetizer, salad, soup, entree and desert.  That's a good deal if you want all those things--but what if all you want is a salad and entree?

You can find such arrangements in the transaction oriented area as well.  There are firms that will allow you to make an unlimited number of trade for an annual fee equal to, say, 3% of the value of your account.

If you have $200,000 with that firm you're going to pay them $6,000 per year for the privilege of making all the trades you care to make.  Well, you can buy a hell of a lot of trades at $5 apiece for $6,000--not to mention the fact that doing a lot of trading is never a good idea unless you have the time to devote to watching what's going on almost all the time.

Speaking of that, Google is open.

i could have typed that entire piece like this with no punctuation of any sort and no capitalized letters but why in the world would i want to make the reader think i didnt know any better you never get a second chance to make a first impression

As often happens my phone was ringing so I sent that without proofing it.

The reference to Series 8 should be Series 7.  There used to be a Series 8 but there isn't any longer.

My bad.

Just a casual glance at the above post reveals that it is at the least, inaccurate.

For example, one is NOT required to hold a Series 65 or Series 66 to be designated an Investment Advisor Representative (IAR).

As usual, Put Trader is wrong.

Google is steady, but the July contracts are down on both sides.

This often happens on the Monday after an expiration when the stock is not banging around.

Patience is the key, they're willing to pay $74 and change for the combination.  Let's see I want to do ten within a few days, I'll do three right now and see if I can't get $75 1/2 for five more later in the day and then try to get $77 for the ther two later in the week.

Anything worth having is worth waiting for.

[quote=Starka]

Just a casual glance at the above post reveals that it is at the least, inaccurate.

For example, one is NOT required to hold a Series 65 or Series 66 to be designated an Investment Advisor Representative (IAR).

As usual, Put Trader is wrong.

[/quote]

A statement such as that, without any supporting comment, is nothing but a brain fart.

[quote=Big Easy Flood]

Let somebody who knows what they’re talking about weigh in on this RIA discussion.

A registered investment advisor is more commonly called a "money manager."  They do not sell advice, they manage money.

[quote=joedabrkr] [quote=Big Easy Flood]

Let somebody who knows what they're talking about weigh in on this RIA discussion.

A registered investment advisor is more commonly called a "money manager."  They do not sell advice, they manage money.

[/quote]

Let someone who THINKS they know EVERYTHING about the industry weigh in with their OPINION presented as FACT.

At least you're consistent, Put.
[/quote]

What do you disagree with Joe?  Are RIAs more commonly referred to as money mangers or not?

Do they sell advice, or don't they?

You, like your buddy Starka, are a moron who is excptionally adept at dropping brain farts on an Internet forum, but when you say that something one person says is wrong it is as meaningless as a puff of smoke without following up as to why you make that statement.

Perhaps you can visibly see it by simply looking at the length of the things I write.

Can you imagine being able to write more than a single sentence or two with your double digit IQ?

[quote=Big Easy Flood][quote=joedabrkr] [quote=Big Easy Flood]

Let somebody who knows what they're talking about weigh in on this RIA discussion.

A registered investment advisor is more commonly called a "money manager."  They do not sell advice, they manage money.

[/quote]

Let someone who THINKS they know EVERYTHING about the industry weigh in with their OPINION presented as FACT.

At least you're consistent, Put.
[/quote]

What do you disagree with Joe?  Are RIAs more commonly referred to as money mangers or not?

Do they sell advice, or don't they?

You, like your buddy Starka, are a moron who is excptionally adept at dropping brain farts on an Internet forum, but when you say that something one person says is wrong it is as meaningless as a puff of smoke without following up as to why you make that statement.

Perhaps you can visibly see it by simply looking at the length of the things I write.

Can you imagine being able to write more than a single sentence or two with your double digit IQ?

[quote=joedabrkr]

While I can at times be long-winded, you are way ahead of my on that front.  Personally I try to present my thoughts on here based on the goal of QUANTITY, not QUALITY.


[/quote]

You need to say no more.

[quote=joedabrkr]

Double digit IQ?  Funny, MENSA didn't agree with you.  I just received my membership packet last week.

But of course, you'll simply say that I'm making that up too.

[/quote]

Great.  Included in the package is a copy of the magazine.

What issue do you have, and what is the first word to appear on page 19?

[quote=Big Easy Flood]

[quote=joedabrkr]

While I can at times be long-winded, you are way ahead of my on that front.  Personally I try to present my thoughts on here based on the goal of QUANTITY, not QUALITY.


[/quote]

You need to say no more.

[quote=Big Easy Flood]

[quote=joedabrkr]

Double digit IQ?  Funny, MENSA didn't agree with you.  I just received my membership packet last week.

But of course, you'll simply say that I'm making that up too.

[/quote]

Great.  Included in the package is a copy of the magazine.

What issue do you have, and what is the first word to appear on page 19?[/quote]

oooohhhh...I can't wait for this reply!!!

[quote=Big Easy Flood]

[quote=joedabrkr]

Double digit IQ?  Funny, MENSA didn't agree with you.  I just received my membership packet last week.

But of course, you'll simply say that I'm making that up too.

[/quote]

Great.  Included in the package is a copy of the magazine.

What issue do you have, and what is the first word to appear on page 19?

[quote=joedabrkr]

I presume this means you are also a member.  I got the sense you were rather smart, if perhaps a little misguided and arrogant.

[/quote]

If you are like me you will go to one meeting.  There you will meet people who you didn't even know existed.  They will talk about things that you dont' give a damn about and you'll never go back.

However, you will continue to pay the annual dues for reasons you cannot justify--just like you can't really explain why you even sent them the money to take the test and spent a Saturday taking it.

It was a "I wonder if I can do it" scratch that needs to be scratched.

There are other, like "I wonder if my best friend's wife is good in bed?"  Don't even think of trying to find out.

[quote=Big Easy Flood]

[quote=joedabrkr]

I presume this means you are also a member.  I got the sense you were rather smart, if perhaps a little misguided and arrogant.

[/quote]

If you are like me you will go to one meeting.  There you will meet people who you didn't even know existed.  They will talk about things that you dont' give a damn about and you'll never go back.

However, you will continue to pay the annual dues for reasons you cannot justify--just like you can't really explain why you even sent them the money to take the test and spent a Saturday taking it.

It was a "I wonder if I can do it" scratch that needs to be scratched.

There are other, like "I wonder if my best friend's wife is good in bed?"  Don't even think of trying to find out.

[quote=joedabrkr]

I would appreciate if you could refrain from implying that I am "like you".

[/quote]

I agree.

For example there is no way in hell that I would ever quit at UBS, become and indy and then waste precioius liquidity on the initiation fee at a country club.  Nor would I buy a house right away, I'd want to give my new practice a chance to grow so that I could determine how much house I could afford.

But then, I'm not a failed planner.

[quote=Big Easy Flood]

[quote=joedabrkr]

I would appreciate if you could refrain from implying that I am “like you”.

[/quote]

I agree.

For example there is no way in hell that I would ever quit at UBS, become and indy and then waste precioius liquidity on the initiation fee at a country club.  Nor would I buy a house right away, I'd want to give my new practice a chance to grow so that I could determine how much house I could afford.

But then, I'm not a failed planner.

[quote=joedabrkr]

Of course you wouldn't....you wouldn't have the GUTS to do it, nor the liquidity!

Well if I'm a "failed planner" then it's a pretty good life from where I'm sitting!
[/quote]

Joe, I happen to know that LPL advises their new associates, partners, or whatever, that the most important thing they can do when they're starting is to maintain liquidity.  At all costs maintain liquidity.

Against that backdrop are you saying that you are such a poor businessman that you actually bought a new country club membership?  Who sponsored you for it, what with you being brand new in town and just getting your business started?

How could you be such a bad advisor?  Regardless of how much liquidity somebody has what they do NOT do when they're starting a business is join a country club.  They hold onto their precious liquidity in case they hit a rought spot in the road.

Sometimes it's better to admit you were trying to bullschidt about a small thing, like a country club membership, rather than look like a complete moron when it comes to your understanding of your career choice.

By the way, does it makes sense to make an investment into country club membership in order to develop future contacts?

Five grand a year for a few years doesn't seem like much if it results in a few new weathly clients.  I'm making conjecture, as I cannot speak from experience (yet).

[quote=opie]

By the way, does it makes sense to make an investment into country club membership in order to develop future contacts?

Five grand a year for a few years doesn't seem like much if it results in a few new weathly clients.  I'm making conjecture, as I cannot speak from experience (yet).

[quote=joedabrkr] [quote=opie]

By the way, does it makes sense to make an investment into country club membership in order to develop future contacts?

Five grand a year for a few years doesn't seem like much if it results in a few new weathly clients.  I'm making conjecture, as I cannot speak from experience (yet).

[/quote]

Bingo!
[/quote]

So, as an financial advisor you would suggest that somebody who is starting a new business should spend scare liquid assets on a country club membership--is that what you are going to say?  Yes or no?

As for $5,000 for a few years.  It is my experience that country clubs that have residential communities associated with them are going to have a fairly steep initiation fee, coupled with pretty steep monthly dues for a full membership.

But the biggest question is the wisdom of obligating yourself to any unnecessary obligation during the critical start up phase of any new business--but especially one as unpredicatble as this industry.

Do you think there is a manager worth is salt that would tell a rookie broker to join a country club?

Really?

[quote=Big Easy Flood]

Let somebody who knows what they're talking about weigh in on this RIA discussion.

A registered investment advisor is more commonly called a "money manager."  They do not sell advice, they manage money.

The SEC receives many questions about investment advisers—what they are and how to go about choosing one. This document answers some of the typical questions we receive from investors about investment advisers. This Q&A is for the benefit of investors. You should not rely upon it to determine if you need to register as an investment adviser.

Q:  What is an investment adviser?

A:  Investment advisers are in the business of giving advice about securities to clients. For instance, individuals who receive compensation for giving advice to a specific person on investing in stocks, bonds, or mutual funds, are investment advisers. Some investment advisers manage portfolios of securitie

What several of the "experts" on this forum are describing is a "Fee Only Finanical Planner."  People who will, for a flat fee, advise a client what to do with their money--but will not actually sell the various things to them.  They do not require licensing because they don't sell, and they are very unregulated because the NASD has no reach since they don't sell.

They are regulated just not by the NASD, the SEC or states take care of them because the NASD is a self regulatory organization of Securities dealers that sell stuff, sometimes it is junk sometimes not.

Basically if you want to be a fee only advisor all you need to do is open an office an run an ad in the yellow page.  Organizations like The Financial Planning Association have designations and things such as "The Registry" which are lists of people who have met various qualifications--but none of them are mandated so an individual may or may not end up with somebody who knows anything at all.

The FPA is a non profit organization that promotes the CFP and people who support financial planning.

This is not the world of brokerage firms, insurance companies and financial planners such as the many "indy" firms that are out there.

Yes it is, would you like to see who is a member go to www.fpa.com find your state and click member list,  you'll see the big wires, insurance companies, indys and RIA's they do not discriminate

Let's go there, let's go to Merrill.

There is a concept called "wrap accounts" which is the idea of allowing a single firm--say Merrill--to manage all your assets for an annual fee which is a percentage of the assets being managed.

You finally got one right

When that arrangement is entered into Merrill will be acting as a Registered Investment Advisor.  Somebody in New York, or other regional offices, will be your teammate and they will call the shots for your client.  You will be expected to act as a buffer between the client and the individual RIA in New York.

Known as an IAR

There are also independent RIAs out there--lots of them.  They work out of very fancy offices in cities and towns all over the country.  Their goal is to attract the pension fund market as a client.  They will earn a percentage--less than 1%--of what they manage for the pension funds and other types of institutional investors.

NOT TRUE, maybe some serve this market but most I know handle retail accounts 100K and up with the average about 500K according to www.investmentadvisor.com

They have salespeople who go out and call on the target markets.  They also attempt to arrange relationships with independent financial planner types.  They may be called something like Smith and Wesson and operate out of the nicest office tower in town.

Fact is most are 1 or 2 man shops that got fed up with their hands being tied at a b/d or insurance company

Enter Series 65 or Series 66.  These are two relatively new--say 15 years now--exams that are designed for the major purpose of getting testing fees for an organization known as the North American State Securities Administrators Association or NASSAA.

These are the fifty state securites commissioners who regulate the RIA business.  Depending on how many clients the RIA has, and how much money they actually manage, they may be too small for the SEC to be concerned with--but somebody has to be concerned with them so the states are.  A lot of this is what Series 65 and 66 is all about--learning when the SEC is involved and when the states are involved and stuff like that.   wHO CARES

Anyway, in order to enroll a client in a wrap account--or any of the other arrangements where there is an RIA in the mix--you must qualify as an IAR or Investment Advisor Representative.  You do that by passing Series 65 or 66.

Or simply be a CFP in most states

What is Series 63?  First, it's an old test.  Been around for decades.  It is the exam that allows you to be "legal" in a state.  Years ago each state that required a test--not all do, Florida for eample--had its own test and you might find yourself being tested twenty, thirty or more times.  Some of the tests were easy, others were tricky, others were damn hard.  Utah required you to take the test in Utah, so if you were a broker in Boston but had a client in Utah you had to get on a plane and go to Utah to take a silly test.

Again....

Texas asked "What is the county seat of Bexar County?"  Stuff like that.

That was all "cured" by Series 63 which came along in the mid 1970s.

These days what most rookies do is take a Series 6 and 65 or a Series 8 and Series 65 or 66.  The Series 63 is covered by passing a Series 65 or 66 in the sense that paper covers rock, and is rarely suggested by firms who are not trying to get  you registered as soon as possible because you're actually nothing more that the latest body to come through their revolving door.

Let's get back to RIAs. They are not broker/dealers, although the big broker dealers all have an RIA division.  Legally they are completely separate organizations.  Merrill Lynch is a holding company that owns Merrill Lynch the brokerage firm, but it also owns one or more RIAs, a clearing firm and lots of investment banking firms that operate as separate entities.

It will be suggested that your clients at least consider the pros and cons of paying a one time annual fee to have their money managed by an RIA.  In return there will be no other charges for the account for the year.

The argument against it is that for an awful lot of people the annual fee is more than they would pay for the various charges because they don't really incur that many charges.

It's not unlike a restaurant that has a fixed price dinner.  For $40 you get an appetizer, salad, soup, entree and desert.  That's a good deal if you want all those things--but what if all you want is a salad and entree?

You can find such arrangements in the transaction oriented area as well.  There are firms that will allow you to make an unlimited number of trade for an annual fee equal to, say, 3% of the value of your account.

If you have $200,000 with that firm you're going to pay them $6,000 per year for the privilege of making all the trades you care to make.  Well, you can buy a hell of a lot of trades at $5 apiece for $6,000--not to mention the fact that doing a lot of trading is never a good idea unless you have the time to devote to watching what's going on almost all the time.

Boring

Speaking of that, Google is open.

i could have typed that entire piece like this with no punctuation of any sort and no capitalized letters but why in the world would i want to make the reader think i didnt know any better you never get a second chance to make a first impression

[quote=Big Easy Flood][quote=joedabrkr] [quote=opie]

By the way, does it makes sense to make an investment into country club membership in order to develop future contacts?

Five grand a year for a few years doesn't seem like much if it results in a few new weathly clients.  I'm making conjecture, as I cannot speak from experience (yet).

[/quote]

Bingo!
[/quote]

So, as an financial advisor you would suggest that somebody who is starting a new business should spend scare liquid assets on a country club membership--is that what you are going to say?  Yes or no?

As for $5,000 for a few years.  It is my experience that country clubs that have residential communities associated with them are going to have a fairly steep initiation fee, coupled with pretty steep monthly dues for a full membership.

But the biggest question is the wisdom of obligating yourself to any unnecessary obligation during the critical start up phase of any new business--but especially one as unpredicatble as this industry.

Do you think there is a manager worth is salt that would tell a rookie broker to join a country club?

Really?

Oh yeah now that I have proved your a moron let me address your fiduciary remark.  If you have any other stupid comments please post here so I can poke more fun at you, here's the link

http://quote.bloomberg.com/apps/news?pid=10000039&sid=a6 xcdDORhQwc&refer=columnist_wasik

Educating stupid people like BEF is my job!

[quote=joedabrkr] [quote=Big Easy Flood]

[quote=joedabrkr]

Double digit IQ?  Funny, MENSA didn't agree with you.  I just received my membership packet last week.

But of course, you'll simply say that I'm making that up too.[/quote]

Great.  Included in the package is a copy of the magazine.

What issue do you have, and what is the first word to appear on page 19?

[/quote]

I have other things to do, but I walked out to the car just for the satisfaction of answering you.

Mensa Bulletin, February 2006, #492.

First word on page 19?  If you go by the headline, the answer would be "American".  If you instead refer to the body of the article, the first word would be "On".  Any more questions?

I presume this means you are also a member.  I got the sense you were rather smart, if perhaps a little misguided and arrogant.
[/quote]

...Heck, according to the Mensa website, my SAT score qualifies me also...I honestly thought that Mensa was a bit more discriminating than that...

What a pathetic attempt.  How is the reader suppose to know what to read, what to skip, where the smart person is talking and where your drivel picks up.

Sloppy work.  D-

For the record The Financial Planning Association is a third tier industry association--behind the Securities Industry Association, The Bond Dealers Association and a host of others.

The list of members of the FPA is NOT a list of Registered Investment Advisors, it is a list of the members of the FPA. It's a very exclusive assocation--they require that a potential member send in a check.

They have no regulatory authority in the industry at all.

Tell me, bankrep, are you able to write an understandable sentence that explains what you're tying to say regarding the relationship between the NASD and the brokerage community?

What are you trying to say with your disjointed comments about fiduciary duties, brokerage firms and junk? What's that all about?

[quote=bankrep1]

They have salespeople who go out and call on the target markets.  They also attempt to arrange relationships with independent financial planner types.  They may be called something like Smith and Wesson and operate out of the nicest office tower in town.

Fact is most are 1 or 2 man shops that got fed up with their hands being tied at a b/d or insurance company

[/quote]

Nope, as with everything else in that ridiculous response you took stupid responses from your earlier attempt and made them worse.

The guys you'll probably run into at a RIA are analyst types--they come from, and still are on, the side of the business known as "buy side."  They were possibly fund managers with a family of funds who got the itch to do it on their own and left to form their own shop.

They are not former brokers or insurance salesmen--which is called the "sell side" of the industry.

[quote=Big Easy Flood]

[quote=bankrep1]

They have salespeople who go out and call on the target markets.  They also attempt to arrange relationships with independent financial planner types.  They may be called something like Smith and Wesson and operate out of the nicest office tower in town.

Fact is most are 1 or 2 man shops that got fed up with their hands being tied at a b/d or insurance company

[/quote]

Nope, as with everything else in that ridiculous response you took stupid responses from your earlier attempt and made them worse.

The guys you'll probably run into at a RIA are analyst types--they come from, and still are on, the side of the business known as "buy side."  They were possibly fund managers with a family of funds who got the itch to do it on their own and left to form their own shop.

They are not former brokers or insurance salesmen--which is called the "sell side" of the industry.

[quote=Big Easy Flood]

[quote=bankrep1]

They have salespeople who go out and call on the target markets.  They also attempt to arrange relationships with independent financial planner types.  They may be called something like Smith and Wesson and operate out of the nicest office tower in town.

Fact is most are 1 or 2 man shops that got fed up with their hands being tied at a b/d or insurance company

[/quote]

Nope, as with everything else in that ridiculous response you took stupid responses from your earlier attempt and made them worse.

The guys you'll probably run into at a RIA are analyst types--they come from, and still are on, the side of the business known as "buy side."  They were possibly fund managers with a family of funds who got the itch to do it on their own and left to form their own shop.

They are not former brokers or insurance salesmen--which is called the "sell side" of the industry.

[/quote]

BEF, do you have any kind of statistical evidence to back up your claims?  Or is it purely anecdotal "from your wide experience"?

We're all entitled to our opinions, but none of us are entitled to our own "facts".

[quote=Philo Kvetch]

BEF, do you have any kind of statistical evidence to back up your claims?  Or is it purely anecdotal "from your wide experience"?

We're all entitled to our opinions, but none of us are entitled to our own "facts".

[/quote]

What have I said that is statistical in nature?

In almost every post regarding who is and isn't an RIA.

[quote=Philo Kvetch]

In almost every post regarding who is and isn't an RIA.

[/quote]

What would be a statistic that you think is wrong?

Are you going to admit you were wrong about being paid for their advice?

Did you read the article where it says a b/d does not have to act in your best interests or is there something you don't understand about that? 

Why would anyone invest in a fund with a 2.5% expense ratio and a front load if B/D's didn't sell some junk?  Think about it.

[quote=Big Easy Flood][quote=Philo Kvetch]

In almost every post regarding who is and isn't an RIA.

[/quote]

What would be a statistic that you think is wrong?

[/quote]

I didn't say right or wrong.  I'm simply asking what is the source of your facts.

Nope, I do not agree that a Fee Only Planner is the same as a Registered Financial Planner.  Just because it's on a website--even the SEC website--does not mean the person who wrote it knows what they're talking about.

What article are you talking about, and who says that a broker/dealer does not have to act in your best interest?

What fund has a 2.5% expense ratio and a front end load, and what broker dealer is selling it?

You have listed three things--in two of them you are referring to things with nothing to back up what you're saying.

That is exceptionally sloppy.  Your grade is F

[quote=Philo Kvetch]

I didn't say right or wrong.  I'm simply asking what is the source of your facts.

[/quote]

What have I said that can be supported with statistics?

your’e a moron.

[quote=bankrep1]your'e a moron.[/quote]

Not hardly.

[quote=Big Easy Flood]

[quote=Philo Kvetch]

I didn't say right or wrong.  I'm simply asking what is the source of your facts.

[/quote]

What have I said that can be supported with statistics?

[/quote]

That's the spirit!  If you can't answer, obfuscate!

Come on Bankboy,

Where is the article that says that broker/dealers do not have a fiduciary responsiblity?  Where did you come up with such a stupid idea?

And what about the 2.5% expense ratio and front end load story.  What fund are you talking about?  Is it possible that there is no such fund and that you fell for some idiotic sales pitch somewhere along the way?

If you're going to strut stuipidity like it was a badge of honor you should be capable of producing your "evidence."

How embarassed you must be. Like the song from Broadway's Ave Q goes, does it suck to be you?

[quote=Big Easy Flood]

[quote=bankrep1]your'e a moron.[/quote]

Not hardly.

[/quote]

If something is "not" hardly, that would make it likely.

[quote=Philo Kvetch][quote=Big Easy Flood]

[quote=Philo Kvetch]

I didn't say right or wrong.  I'm simply asking what is the source of your facts.

[/quote]

What have I said that can be supported with statistics?

[/quote]

That's the spirit!  If you can't answer, obfuscate!

[/quote]

Damn Philo, you ask me for stats to support what I am saying and all I'm doing is asking what I've said that can be substantiated by stats.

I've reread what I've said and not a single sentence is statistical in nature?

[quote=Starka][quote=Big Easy Flood]

[quote=bankrep1]your'e a moron.[/quote]

Not hardly.

[/quote]

If something is "not" hardly, that would make it likely.

[/quote]

Not in Texas.  How ya doing Straka, back from a sales call on an old woman who "bought" a variable annuity?  Or was it an oil and gas deal?

Then  you'd better take a course in reading comprehension.

Oh, and by the way..."?" is a question mark, and belongs at the end of a question.   You should have used a "." (called a period).

[quote=Philo Kvetch]

Then  you'd better take a course in reading comprehension.

Oh, and by the way..."?" is a question mark, and belongs at the end of a question.   You should have used a "." (called a period).

[/quote]

What did I say that was not a question that I ended in a question mark.  I make mistakes, but I've already made all that I will make in June.

[quote=Big Easy Flood][quote=Starka][quote=Big Easy Flood]

[quote=bankrep1]your'e a moron.[/quote]

Not hardly.

[/quote]

If something is "not" hardly, that would make it likely.

[/quote]

Not in Texas.  How ya doing Straka, back from a sales call on an old woman who "bought" a variable annuity?  Or was it an oil and gas deal?

[/quote]

Nope.  Made $20 on eBay selling your schoolbooks.  I thought I'd get more, as they were unused.

"What did I say that was not a question that I ended in a question mark.  I make mistakes, but I've already made all that I will make in June."

Well, you're well into July's quota.  Your first sentence was a question, yet you used a period to end it.  A question mark was called for.  That's why it's called a "question" mark.

[quote=Starka][quote=Big Easy Flood][quote=Starka][quote=Big Easy Flood]

[quote=bankrep1]your'e a moron.[/quote]

Not hardly.

[/quote]

If something is "not" hardly, that would make it likely.

[/quote]

Not in Texas.  How ya doing Straka, back from a sales call on an old woman who "bought" a variable annuity?  Or was it an oil and gas deal?

[/quote]

Nope.  Made $20 on eBay selling your schoolbooks.  I thought I'd get more, as they were unused.

[/quote]

Those were the books I bought in case I lost my first set.  Fortunately I was able to keep up with my first set.

Where'd you get them, your wife promised me that she'd never let you see them.

That was YOU that she was shooting at?

[quote=Philo Kvetch]

Your first sentence was a question, yet you used a period to end it.  A question mark was called for.  That's why it's called a "question" mark.

[/quote]

Nah, "Not in Texas." is a statement of fact not a question.

They’re right!  You really are a dimwit.

[quote=Starka]That was YOU that she was shooting at?[/quote]

Nah, I was the guy you saw driving away when she was saying that she wasn't sure if she'd ever be able to walk again, but didn't care.

[quote=Philo Kvetch]They're right!  You really are a dimwit.[/quote]

Say what?  Perhaps you should go back and examine it again. Three sentences.

One a declarative sentence.  Followed by two questions, complete with question marks.

[quote=Big Easy Flood]

[quote=Starka]That was YOU that she was shooting at?[/quote]

Nah, I was the guy you saw driving away when she was saying that she wasn't sure if she'd ever be able to walk again, but didn't care.

[/quote]

I'm sorry, I forgot that guys of your ilk think with their little head.

What I have to say will only appeal to guys who think with their big head.

[quote=Starka][quote=Big Easy Flood]

[quote=Starka]That was YOU that she was shooting at?[/quote]

Nah, I was the guy you saw driving away when she was saying that she wasn't sure if she'd ever be able to walk again, but didn't care.

[/quote]

I'm sorry, I forgot that guys of your ilk think with their little head.

What I have to say will only appeal to guys who think with their big head.

[/quote]

I tried to use the big head with your wife but found her lacking, but she sure enjoys the little head.

These forums are in serious need of administrators.

Or at least recess teachers.

[quote=Starka]

Just a casual glance at the above post reveals that it is at the least, inaccurate.

For example, one is NOT required to hold a Series 65 or Series 66 to be designated an Investment Advisor Representative (IAR).

As usual, Put Trader is wrong.

[/quote]

Starka, that was exactly what I was thinking.  Put Trader is of course, this idiot.  Best strategy is to ignore him.

What kind of person has the time to keep entering this forum after they are kicked out time and time again?

[quote=Big Easy Flood][quote=Starka][quote=Big Easy Flood]

[quote=Starka]That was YOU that she was shooting at?[/quote]

Nah, I was the guy you saw driving away when she was saying that she wasn't sure if she'd ever be able to walk again, but didn't care.

[/quote]

I'm sorry, I forgot that guys of your ilk think with their little head.

What I have to say will only appeal to guys who think with their big head.

[/quote]

I tried to use the big head with your wife but found her lacking, but she sure enjoys the little head.

[/quote]

Where in the world is the administrator?

A lesson for the rookies.

Brokerage offices are among the most non-politically correct zones in which you can work.  It has to do with the competition among men, and women who think they're men.

Nothing spreads faster than a foul joke in a brokerage firm.

I've seen guys stand up and scream a string of four letter words then throw their quote machine on the floor--while a client was walking through the office.

If you have "sensitivities" you are going to spend your entire existence wringing your hands and whining.

[quote=maybeeeeeeee][quote=Starka]

Just a casual glance at the above post reveals that it is at the least, inaccurate.

For example, one is NOT required to hold a Series 65 or Series 66 to be designated an Investment Advisor Representative (IAR).

As usual, Put Trader is wrong.

[/quote]

Starka, that was exactly what I was thinking.  Put Trader is of course, this idiot.  Best strategy is to ignore him.

What kind of person has the time to keep entering this forum after they are kicked out time and time again?

[/quote]

Coming behind a poster and saying, "He's wrong" without a single example of why, and a brief mention of what is right, is meaningless.

When I point to something somebody said that is wrong I explain why it's wrong.

Simply saying it's wrong is meaningless.

Wouldn't you agree?

Why do you guys waste your time with this guy???

Who cares about what some old retired fool with more time on his hands than he knows what to do with has to say.

These guys need to feel like their part of something, because maybe at one time they were but that time is long gone.

Even if it is an internet forum.

[quote=BankFC]

Why do you guys waste your time with this guy???

Who cares about what some old retired fool with more time on his hands than he knows what to do with has to say.

These guys need to feel like their part of something, because maybe at one time they were but that time is long gone.

Even if it is an internet forum.

[/quote]

You are more than welcome to ignore what I have to say.

But people with triple digit IQs are going to want to learn from thirty five years of experience.

LOL,

People with triple digit IQ's are going to take everything you (and everyone else on thios board) say with a couple grains of salt.

You're not nearly as important as you think you are.

[quote=BankFC]

LOL,

People with triple digit IQ's are going to take everything you (and everyone else on thios board) say with a couple grains of salt.

You're not nearly as important as you think you are.

[/quote]

When did I say I was important?  What I have said is I know a lot about the way this business works, and people who are bright enough to recognize that will want to learn what I can teach them.

Do what you want.  Learn or not.  Makes no difference to me.

You don't impress me.  I was a Duke talent participant, took the ACT in the 7th grade and made a 22.  I was offered to take college level elective classes in the 7th grade by a major university.

I didn't do it for the same reason I dropped my biology and chemistry double major for economics...I didn't fit in with the nerdy, ultra-smart but socially inept people in that field.

I've never applied for MENSA because I have no reason to...I don't need validation.  That for old geezers who troll internet forums spouting off like they are somebody.

[quote=BankFC]

You don't impress me.  I was a Duke talent participant, took the ACT in the 7th grade and made a 22.  I was offered to take college level elective classes in the 7th grade by a major university.

I didn't do it for the same reason I dropped my biology and chemistry double major for economics...I didn't fit in with the nerdy, ultra-smart but socially inept people in that field.

I've never applied for MENSA because I have no reason to...I don't need validation.  That for old geezers who troll internet forums spouting off like they are somebody.

[/quote]

And with all that going for you you find yourself sitting at a little desk in a bank trying to pursuade little old ladies to buy an annuity because Merrill Lynch does not have a fiduciary responsiblity.

You're a joke.  Your parents must be so proud.

[quote=BankFC]

You don't impress me.  I was a Duke talent participant, took the ACT in the 7th grade and made a 22.  I was offered to take college level elective classes in the 7th grade by a major university.

I didn't do it for the same reason I dropped my biology and chemistry double major for economics...I didn't fit in with the nerdy, ultra-smart but socially inept people in that field.

I've never applied for MENSA because I have no reason to...I don't need validation.  That for old geezers who troll internet forums spouting off like they are somebody.

[/quote]

Let's go back to this for a moment.  From where I sit a 7th grader who was offered college level courses would be able to write better than you do, kid.  What explains what is generously referred to as functional illiteracy?

As for the comment about Mensa.  If you were qualfied you would be just like everybody else, you'd want to take the test just to see.  It's not validation, it's part of self realization.

I would think a smart kid like you would get that.

I have no idea what your referring to with the ML fiduciary commentary...I didn't waste my time reading your tirade.

I'm doing what I want...and I enjoy it.  What should I have done, sit in a lab for the past 6 years listening to instructors who are about as full of themselves as you are?

Go to medical school?  Just because I have the ability, no way.  That's what is wonderful about this country.  I can, and will, make as much as most physicians in this line of work (without forgoing my last 5 earning years in school) with much more freedom.

Is it always the most intellectually stimulating thing in the world?  No, but I do learn something just about every day.  Mostly from my successful clients.

This year alone I have learned enough to dip into real estate investing in a big way, and it will pay me multiple times over.

Not every smart person is a doctor.  Bill Gates made billions by making something complex (an operating system) easy for just about everybody (Windows).  He was a college dropout.

[quote=Big Easy Flood][quote=BankFC]

You don't impress me.  I was a Duke talent participant, took the ACT in the 7th grade and made a 22.  I was offered to take college level elective classes in the 7th grade by a major university.

I didn't do it for the same reason I dropped my biology and chemistry double major for economics...I didn't fit in with the nerdy, ultra-smart but socially inept people in that field.

I've never applied for MENSA because I have no reason to...I don't need validation.  That for old geezers who troll internet forums spouting off like they are somebody.

[/quote]

Let's go back to this for a moment.  From where I sit a 7th grader who was offered college level courses would be able to write better than you do, kid.  What explains what is generously referred to as functional illiteracy?

As you are examing my grammer, why don't you take a second and explain the grammatical structure of THIS sentence.  Ironic isn't it? 

As for the comment about Mensa.  If you were qualfied you would be just like everybody else, you'd want to take the test just to see.  It's not validation, it's part of self realization.

LOL, no I really don't need it.  Two of my best friends (who are probably smarter than I am) aren't in MENSA either.  One is in medical school, the other is teaching english in South Korea.

Career choice has little to do with intellect. 

I would think a smart kid like you would get that.

I'm not surprised an old fart like you WOULDN'T get that.

What kind of people are Members of Mensa?

There is simply no one prevailing characteristic of Mensa members other than high IQ. There are Mensans for whom Mensa provides a sense of family, and others for whom it is a casual social activity. There have been many marriages made in Mensa, but for many people, it is simply a stimulating opportunity for the mind. Most Mensans have a good sense of humor, and they like to talk. And, usually, they have a lot to say.

Mensans range in age from 4 to 94, but most are between 20 and 60. In education they range from preschoolers to high school dropouts to people with multiple doctorates. There are Mensans on welfare and Mensans who are millionaires. As far as occupations, the range is staggering. Mensa has professors and truck drivers, scientists and firefighters, computer programmers and farmers, artists, military people, musicians, laborers, police officers, glassblowers--the diverse list goes on and on. There are famous Mensans and prize-winning Mensans, but there are many whose names you wouldn't know.

From you own precious Mensa website.  Don't question me again old man. 

[quote=BankFC]

From you own precious Mensa website.  Don't question me again old man. 

[/quote]

The vast majority of people who join Mensa do it as a challenge to themselves.  The, "I wonder......"

I have never met anybody who thought they were bright enough who did not take the test to satisfy that curiosity.

A lack of curiosity is one of the basic tests for mental illness as well as genetic stupidity.

[

[/quote]

And with all that going for you you find yourself sitting at a little desk in a bank trying to pursuade little old ladies to buy an annuity because Merrill Lynch does not have a fiduciary responsiblity.

You're a joke.  Your parents must be so proud.

[/quote]

That last post of mine was in reponse to this post of yours trying fruitlessly to cut me down, when simultaneously, the very group you are so proud to be a part of refutes you. 

Clearly, you have no legs to stand on.

[quote=Big Easy Flood]I have never met anybody who thought they were bright enough who did not take the test to satisfy that curiosity.[/quote]

Actually, most people who are bright enough for Mensa have taken a standardized test at some point in there lives, so they already know:

http://www.us.mensa.org/Content/AML/NavigationMenu/Join/Subm itTestScores/QualifyingTestScores/QualifyingScores.htm

Considering I scored a 164 on the LSAT...I qualify for your precious little club.

Now I'll go jerk off to how smart I am...no wait, that's you. 

[quote=BankFC]

Considering I scored a 164 on the LSAT...I qualify for your precious little club.

[/quote]

Oh, in addition to dropping out of medical school at age twelve, or something like that, you also dropped out of law school.

All in favor of sitting at a little desk in a bank hoping that Mrs. Johnson, your only appointment of the day, is dumb enough to buy a variable annuity.

When were you an astronaut?  Was that before you were a doctor but after you were a lawyer?

Ok.  So I qualify as well, according to my score on the SAT way back when. (1490.... and no that wasn't the year!) There are probably bums on the street drinking out of paper bag clad bottles who qualify as well.

What is the point? 

LOL,

You need to work on your reading comprehension!! 

I dropped my UNDERGRAD biology and chemistry majors for economics.

I took the LSAT in DEC 2003 as I was CONSIDERING doing a joint JD/MBA, but chose against it.

Anything else you need clarification on, feel free to ask...

BEF… I can tell you are lonely.  Maybe you need a pet.

BEF...was it time for the nurse to change your bed pan???

Actually, what am I saying???  No more wasting time with you...I have sufficiently made you out to the fraud you are.

Time for lunch.

[quote=babbling looney]

Ok.  So I qualify as well, according to my score on the SAT way back when. (1490.... and no that wasn't the year!) There are probably bums on the street drinking out of paper bag clad bottles who qualify as well.

What is the point?[/quote]

Yippee!!! I qualify too!!!  1300 SAT in the early 80's!!!

Aw man...I just wet myself...

Thanks to everyone who completely went off the deep end.



Well done at clouding both the question and the answers.



sh*t like this reinforces why this forum gets overloaded with too many egos.



8 pages of ‘f-off, and I’m smarter than you’ really makes tons of sense.



Golf claps for everyone.



C

[quote=Captain]Thanks to everyone who completely went off the deep end.

Well done at clouding both the question and the answers.

sh*t like this reinforces why this forum gets overloaded with too many egos.

8 pages of 'f-off, and I'm smarter than you' really makes tons of sense.

Golf claps for everyone.

C[/quote]

What's a 'golf clap'?

[quote=Captain]Thanks to everyone who completely went off the deep end.



Well done at clouding both the question and the answers.



sh*t like this reinforces why this forum gets overloaded with too many egos.



8 pages of ‘f-off, and I’m smarter than you’ really makes tons of sense.



Golf claps for everyone.



C[/quote]

Dude you really really need to lighten up a little bit.  Go have a cocktail and chill out.

[quote=Captain]
sh*t like this reinforces why this forum gets overloaded with too many egos.

8 pages of 'f-off, and I'm smarter than you' really makes tons of sense.
[/quote]

I agree 100%. I wish these people who can't keep their posts on topic would be ejected from the forum.  Sure, a few might have had a good response or two but this childishness is unforgivable.

WM

[quote=WealthManager]

[quote=Captain]
sh*t like this reinforces why this forum gets overloaded with too many egos.

8 pages of ‘f-off, and I’m smarter than you’ really makes tons of sense.
[/quote]

I agree 100%. I wish these people who can't keep their posts on topic would be ejected from the forum.  Sure, a few might have had a good response or two but this childishness is unforgivable.

WM

[quote=munytalks]

[quote=Captain]Thanks to everyone who completely went off the deep end.

Well done at clouding both the question and the answers.

sh*t like this reinforces why this forum gets overloaded with too many egos.

8 pages of 'f-off, and I'm smarter than you' really makes tons of sense.

Golf claps for everyone.

C[/quote]

What's a 'golf clap'?

[/quote]

A very tiny subdued clapping that makes little noise typically done at a golf tournament when someone sinks a difficult put so as not to disturb golfers on other nearby greens.  Evidently golfers have a very easily disturbed attention span and can't handle noise or other distractions.  

In this case used as a mild insult.

[quote=BankFC]

What kind of people are Members of Mensa?[/quote]

Well, to use an ugly stereotype (and everyone here excepted, well almost everyone, you know who you are  ) think of the comicbook store guy from The Simpsons.  

[quote=mikebutler222][quote=BankFC]

What kind of people are Members of Mensa?[/quote]

Well, to use an ugly stereotype (and everyone here excepted, well almost everyone, you know who you are  ) think of the comicbook store guy from The Simpsons.  

[/quote]

I don't care who you are...that's funny!

I agree that most of the time a trainee shouldn't expect more than 50K in starting salary.  However, this is not a hard and fast rule as stated by an earlier poster.

So far I have been able to negotiate salaries in the 70s, 80s, 90s, and yes, 100K for one trainee in Atlanta.

So it's not unusual to see high salaries for trainee positions.

You just need the right recruiter on your side!  

My dear friends.  Joe, BankRep, please forgive me but I have to give you a shake and yell in your face, "snap out of it".  Please do not waste your valuable time responding to Put Trader, Big Easy Flood or more accurately LOSER.

If you prefer, I can change the slap to a spank

Much love,

maybeeeeeeee

[quote=maybeeeeeeee]

My dear friends.  Joe, BankRep, please forgive me but I have to give you a shake and yell in your face, “snap out of it”.  Please do not waste your valuable time responding to Put Trader, Big Easy Flood or more accurately LOSER.

If you prefer, I can change the slap to a spank

Much love,

maybeeeeeeee

Babs-

Thanks for the explanation of "Golf Clap".  I have seen this on T.V.- but where I am at if you can't tee off while three drunks play through-two chugging beer and the third mooning you- you ain't got any business on the course!