Glossary - definition help!

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alaskota's picture
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Joined: 2008-02-21

I'm new to the board and the profession lingo... so if people could help explain some of the following terms to me, I'd appreciate it!"new/new""trail""joint work""spiff""RIA - or was it IAR""grid"I understand AUM - anyone have any idea what the average is for this industry?- I assume "production" is what you are bringing in between commissions and fees on a yearly basis?- Payout is then a percentage of that production, correct?- Fee based, is this a yearly percentage of AUM - when is it assessed?Sorry if these sound basic, I just don't want to be making assumptions!Thanks.

alaskota's picture
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Joined: 2008-02-21

Thanks Icecold! That was very helpful! When you said that the payout on a fee based structure is quarterly but they are billed up front, are you saying the client is billed up front in one lump sum, and you are paid out quarterly - or is it the opposite?

FireUp's picture
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Joined: 2008-01-29

Thanks Ice!  I value the many informative responses that you and several others have posted.     Very new guy here! 

cerpen's picture
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Joined: 2008-01-18

Another thanks here, Ice! You put a lot of time into this e-mail and are helping many here just getting started.  Much appreciated.

Spaceman Spiff's picture
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Joined: 2006-08-08

alaskota wrote:I'm new to the board and the profession lingo... so if people could help explain some of the following terms to me, I'd appreciate it!"new/new""trail""joint work""spiff""RIA - or was it IAR""grid"I understand AUM - anyone have any idea what the average is for this industry?- I assume "production" is what you are bringing in between commissions and fees on a yearly basis?- Payout is then a percentage of that production, correct?- Fee based, is this a yearly percentage of AUM - when is it assessed?Sorry if these sound basic, I just don't want to be making assumptions!Thanks.
 
spiff - to show extreme intelligence, charm, whit, and charisma.  Other deriviatives define the word as describing a thing of beauty, akin to a Roman God.  Can also describe one who has the utmost humility.

alaskota's picture
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Joined: 2008-02-21

spiff2      /spɪf/ Pronunciation Key - Show Spelled Pronunciation[spif] Pronunciation Key - Show IPA Pronunciation Slang. –noun 1.a bonus or other form of remuneration given to retail salespeople for promoting the products of a particular manufacturer.

–verb (used with object) 2.to reward (a salesperson) with a spiff.Sorry Spaceman! When I think of "spiff" I think of "spiffing up" - now I picture a little housekeeper in a spacesuit prancing around an office with a feather duster, and not in a good way!

Spaceman Spiff's picture
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Joined: 2006-08-08

You should be thinking about Spaceman Spiff from the Calvin and Hobbes cartoon strip.  BTW, the best cartoon strip ever.  Bill Watterson, the creator, decided he didn't want to sell out to corporate pressures, so he just stopped drawing.  I haven't paid any attention to the comics since then. 
 
 

south1451's picture
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Joined: 2007-12-07

LOL

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