EDJ Field Foundations- My Experience thusfar
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Do you get paid 12b-1 fees? If not, you’ll be transferring $50k that you won’t be able to get paid a dime on for at least 6 years.
Shake his hand, say thanks, and move on. You can’t make any money on him … NEXT
I have a couple of very nice things in the works. Should close 110k tomorrow. Part is 25k R/O going in A-shares, 85 non-Q going advisory solutions.
Also, doing a proposal for 700K. Guy got screwed by ML. Broker actually forged his sig for a Margin loan. When the market crashed, he started getting the call on it. They fixed it after he hired a lawyer. He’s been sitting in cash since. Got my fingers crossed. He wants to get back in the market. It’s me or Scottrade.
You should beat Scottrade hands down. Just pitch the team aspect. You and him against the markets. Hey, even Tiger Woods has a coach.
You should beat Scottrade hands down. Just pitch the team aspect. You and him against the markets. Hey, even Tiger Woods has a coach.
I like it! Thanks!
[quote=iceco1d]NQ $$$ going to Advisory Solutions, eh? I hope it isn’t regular mutual funds (either tax-managed, index, or ETFs, I hope). Do you guys get any say over the rebalancing schedule yet in Advisory Solutions? Or should I say, do you have the ability to create a “lack of” a rebalancing schedule for NQ $$$?
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No say (i think?) but there is a tax sensitive model for NQ money. NQ $$ I’ve been placing in C shares.
What does NQ have to do with share class? Ice is right: NQ surprise taxation is the issue. C share or A share, Franklin will often be inefficient after-tax. Back at Jones, I was told to not worry about it since no one really notices the 1099 anyway (clients assume it is for “growth”) and I need the 5.75 upfront. Then came Q4 2007 and 2008. No growth. Big taxes. Oops.
Wow. I never thought of this. There is a tax-sensitive model so I will give that a shot.
Got a 50k r/o today for one guy, and transferred in 45k that we will be looking at investing later for another. 2 new households, 4 new accounts.
Volt, I have no idea how you hit the ground running so fast. I’m busting my ass 12 hours a day, and it’s still coming very very slow, although I do have a lot of big fish nibbling.
You guys are funny … I was not saying the different share classes had any tax benefits to the clients. Simply I could control the advisory solutions auto-rebalancing and annuitize my business by keeping the shares in C. However, you are correct that I need to learn more about what funds are more tax sensitive. I’ll put some effort into that next year.
Ms - I did about 2k gross my first full selling month. So nothing huge. I think you lay the ground work now for the following months, at least I keep telling myself that. Keep your head right. Those accounts you did today will qualify you for PDP $$$ wise soooo well done
Got another 81k on the way today. Plus, 10k in roths. Going A Shares DCAed over 3 months, just in case we see a correction. (Wanna wipe out PDP goal quick, then focus on AS.)
Also another ~50K working on. Wants to consolidate. AS for this one.
Still have a 600k one on the line, but I don’t know yet if I will be able to reel him in. 1/2 AS (Qual $$) 1/2 blend of multiple things, mainly munis (Non-qual.)
One more guy with 650K that just bought a small bond from me.
I’ve been going at it hard, but I have to find better ways to use my time. I do well afternoons and evenings, but it seems to take me 3 hours to get going in the morning. This week I have made a push to hit businesses on my way into the office each morning.
I can’t believe windy is back. Don’t let him suck the wind out of your sails Volt!
Three good appointments set tonight!
And a 5k account. Oh, yeah, and another 30k that wants to move to me in the next month. Death in the Family, though, so waiting until things settle down. It does amaze the that people will roll their money to you without even knowing what you are going to do with it. It's a pretty cool feeling, to have that much trust in so little time. Also a little scary, though.Numbers are low until the Acats come in. What I’ve got on the way:
81k Acat (Actually 48k r/o and 31 acat plus doing another 10k in a roth so 91k for this household.)
54K Acat
8k R/O
45K Acat (not investing immediately, though)
5k Acat of American C shares.
All of these the Acats are already in process. I also have 25k that I just need a statement on (getting it tuesday) and another 30k account and 50k that I should get hopefully in the next month.
Transferring in a 58k VA that will not be OOS for years, so just trails on that.
Once I get the Acats that are already in process, I will be at $5600 gross, and I’m 3 weeks out right now. I am going to DCA everything over three months, though, that way if the market corrects, I look like a genius, and the next div trip cycle starts in Oct, and I am really liking the idea of kicking up my heels in Cyprus.
I also have a couple of really big fish that I hope I will land. Most likely I will go Advisory with them, though.
Good to see that you’re doing well and excited about EDJ. Hopefully I do well at my F2F this week and get an offer. HR said I would be going into the October class if extended an offer.
I should be heading into field foundations by january =) atleast, that’s what I hope
Kool-aid response: The tablet is great! I use it for all f2f contacts... Okay, not really. I tried, I really did, but it actually started hurting my shoulders and never read my writing correctly, so I gave up on it. I still have about 20 prospects with completely unintelligible notes. (I accidentally marked them reviewed not knowing it would delete the handwritten text and just stick with it's own interpretation of what I wrote.) I use a padfolio now. It's worked well for me so far.Ms Broker do you use ur tablet to prospect at doors or do u go bare handed?