[quote=Moraen] [quote=max]

[quote=Moraen]Walk away for a day and look what happens.



Why are you waiting until 2011? I believe I set up my RIA in about 6 weeks. I’m not sure why that would take you so long.



So, how will you be compensated? Flat fee? Percentage of assets under management? Percentage of profits? Both percentage of profits and assets under management? Will you use watermarks? How high will yours be?



By the way - Morphius regularly contributes on this forum and has good information. His posts have impeccable spelling and grammar and usually when he finds a piker, he nails them to the wall. You have proven that you think you know everything (much like everybody who ever starts in our line of work).



[/quote]My registration became effective June 25.  I want at least a year to compile a performance record before I offer my services to a nonpro and 3 to 5 years before offering to a pro.  Besides that, I’d like to take some time to get up to speed on the business management aspects of an advisory biz.  Because I will be offering performance to distinguish myself from other advisers, a track record is essential.Percentage of AUM.I’ve never claimed to know much at all about “your biz”.  I don’t know how you could infer that I thought I do.  I came here to learn something about the nuts and bolts of the industry as it’s practiced today and was told to go away.I don’t care that morphius has good grammar.  I still think he’s a presumptuous ***hole.[/quote]



Max - what standards are you using to compile your performance record?



By the way, a one year track record doesn’t distinguish you. Or two years for that matter.



And, does the fact that you are going to be “managing money” mean that you won’t be doing what us “typical advisors do”? And if so, how does that differ from the fact that at some point you will be wanting us to refer business to you? And if so, how is Morphius’ inference that you are here trying to peddle your wares in preparation of your “grand opening” wrong?[/quote]

Thank you for your intelligent and civil comments.  Could you be a little more specific regarding performance record standards?  I’m reading a good book titled “Measuring Invetment Performance” by David Spaulding.  I’ll get back to you on “standards” after I’ve finished it.

When I can demonstrate the ability to make a profit for a client in both bull and bear markets, I will distinguish myself and someone will be impressed whether the time frame is one year or two.

It never occurred to me to promote my business in this forum and Morphius drew that inference before he knew anything about me.  I posted here because this is the first board I’ve found where “advisers” interact.  But, it is reasonable for you to wonder about my motives and for that I bear you no malice.

Standards are not unified at the moment. Will you be using GIPS performance standards when you report your returns?



Max - since you are new to the forum - he drew that inference because what you were saying happens a lot - people peddle all kinds of crap on here.’

[quote=max]   I came here to learn something about the nuts and bolts of the industry as it’s practiced today and was told to go away.

I don’t care that morphius has good grammar.  I still think he’s a presumptuous ***hole.
[/quote]
Grow a pair, max.  This isn’t a business for the thin skinned.  You want a friend,  get a dog. 

You claim you want to learn about the nuts and bolts of the industry, but you are so busy defending your warped and uninformed assumptions that you refuse to even shut up long enough to actually listen.  Every time you open your mouth you insert your foot further.  Latest examples:

[quote=max] Could you be a little more specific regarding performance
record standards?  I’m reading a good book titled “Measuring Invetment
Performance” by David Spaulding.  I’ll get back to you on "standards"
after I’ve finished it.[/quote]
A track record that doesn’t strictly comply with very specific performance standards (GIPS) would be worthless for your purposes.  But since you are certified and have read so much I’m sure you knew that.

[quote=max]When
I can demonstrate the ability to make a profit for a client in both
bull and bear markets, I will distinguish myself and someone will be
impressed whether the time frame is one year or two.[/quote]
1. It would take you far longer than a couple of years to establish a track record in both bull and bear markets.
2. If you had the ability to consistently “make a profit” in both bull and bear markets, you would make so much money on your own that you have no need of clients.

At some point, max, you really need to look in the mirror and ask yourself this question: either I am right and everybody else who actually works in the industry is wrong, or maybe,  just maybe …

Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  I’m curious, If you do have clients, how have their portfolios done over the past two years?  What type of investment vehicles do you use for them?  Are you an ETF kind of guy, mutual funds, limited partnerships?  What would it be?  What has your research department been pumping lately?

Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  I’m curious, If you do have clients, how have their portfolios done over the past two years?  What type of investment vehicles do you use for them?  Are you an ETF kind of guy, mutual funds, limited partnerships?  What would it be?  What has your research department been pumping lately?

[quote=max]Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  I’m curious, If you do have clients, how have their portfolios done over the past two years?  What type of investment vehicles do you use for them?  Are you an ETF kind of guy, mutual funds, limited partnerships?  What would it be?  What has your research department been pumping lately?

[quote=Moraen]Standards are not unified at the moment. Will you be using GIPS performance standards when you report your returns?



Max - since you are new to the forum - he drew that inference because what you were saying happens a lot - people peddle all kinds of crap on here.’[/quote]

I’m taking a look at the GIPS site now.  I’ll get back to you on your question.  Thanks for your input.

[quote=max]Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  [/quote]
I guess for the same stupid reason you are determined to start a business without knowing anything about the subject.  

[quote=Morphius]

[quote=max]Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  [/quote]
I guess for the same stupid reason you are determined to start a business without knowing anything about the subject.  





[/quote]

[quote=Morphius]

[quote=max]Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  [/quote]
I guess for the same stupid reason you are determined to start a business without knowing anything about the subject.  





[/quote]

Max, how does it feel to be owned by a total retard?

[quote=DHK]

[quote=Morphius]

[quote=max]Morphius, you silly twit, I said I was reading a book on performance measurement.  Why would I be reading the book if I already knew what I needed to know about the subject?  [/quote]
I guess for the same stupid reason you are determined to start a business without knowing anything about the subject.  





[/quote]

Max, how does it feel to be owned by a total retard?
[/quote]

I’m sorry DHK, it must have been a long day because I don’t have the slightest idea what you’re talking about.  You seem totaly incoherent to me.  Owned, retard, how does it feel???  I feel like I’m back in junior high again.  I think I’m going to take a long weekend now.  You crazy kids try to stay out of trouble now, OK.   

[quote=max]
I’m sorry DHK, it must have been a long day because I don’t have the slightest idea what you’re talking about.  You seem totaly incoherent to me.  [/quote]
DHK/Bobby, how does it feel to be owned by a total amateur?

I think Bobby wants to be me.  I get more action than he does, and I've got a whole lot more money than him.

I’m taking a look at the GIPS site now.  I’ll get back to you on your question.  Thanks for your input.

[quote=max]But, a fee based adviser doesn’t depend on product sales to generate revenue, a commission based rep does.  Why do you think there are regs against churning?  Because salesmen have an incentive to place their own interests above the client’s.
[/quote]

That incentive does not solely reside in the commission-based world.  I have personally witnessed fiduciaries get too aggressive in retiree portfolios in the hopes of raising AUM through market growth.  The incentives are the same - to make more money - with either type of advisor.

[Quote] Because I will be offering performance to distinguish myself from other advisers, a track record is essential. [Quote]

[quote=Frank W. Abagnale]

I think Bobby wants to be me.  I get more action than he does, and I’ve got a whole lot more money than him.

Oh Tom… why are you impersonating DHK?

[quote=Frank W. Abagnale]Oh Tom… why are you impersonating my good friend?