Scrim,



nametag?

name badge technically.

Badge, Tag it's all the same to me.

scrim

And just to add for some of you out there that are convinced the bank program is awash with the can't hack'its or the afraid to try ..or to  young to whatever.. I just thought to give you a run down of where I work and let you decide for yourselves..

I have a book over 80 million in place

I have an assistant that I share with one other producer

I grossed over $500k last year @ 35% with a 2 point bonus (paid in Feb)

I have a team of people to call on from trust services to private lenders

I have my own office where I look out a window ..

I have a pension ..(yeah they still make those)

I have recieved in the past stock options

I make my own hours

And no there are no nametags .. I wear a suit everyday

and I am 35 with 10 years in the biz..

SO if that is a crap life .. then call me s**te and pile me up..

just my 2 cents

[quote=whitewlfz]

And just to add for some of you out there that are convinced the bank program is awash with the can't hack'its or the afraid to try ..or to  young to whatever.. I just thought to give you a run down of where I work and let you decide for yourselves..

I have a book over 80 million in place

I have an assistant that I share with one other producer

I grossed over $500k last year @ 35% with a 2 point bonus (paid in Feb)

I have a team of people to call on from trust services to private lenders

I have my own office where I look out a window ..

I have a pension ..(yeah they still make those)

I have recieved in the past stock options

I make my own hours

And no there are no nametags .. I wear a suit everyday

and I am 35 with 10 years in the biz..

SO if that is a crap life .. then call me s**te and pile me up..

just my 2 cents

[/quote]

If you're happy with only doing $500,000 after 10 years, I'm happy for you. I think Bankfc and Bankrep are doing about $1,000,000 after 9 months or something like that.

My Inner Child,



Where did you get a million from?



White,



Your situation sounds very similar to my own, I guess we just let these idiots stay in the dark.

[quote=whitewlfz]

And just to add for some of you out there that are convinced the bank program is awash with the can’t hack’its or the afraid to try …or to  young to whatever… I just thought to give you a run down of where I work and let you decide for yourselves…

I have a book over 80 million in place

Yes but it's not really yours no matter how much you'd like to think that.  Piss off the wrong manager and they can start reassigning your accounts or branches to other advisors under the rubric of "providing better client service".

I have an assistant that I share with one other producer

See above.  However, the excuse in this case will usually fall along the lines of "greater efficiency" or "expense control".

I grossed over $500k last year @ 35% with a 2 point bonus (paid in Feb)

That's only impressive when compared to other bank and credit union brokers.  I'll earn more than you on 250-300k gross, and the business is mine to do what I please with it.

I have a team of people to call on from trust services to private lenders

How many of them really know what they're doing?  If aren't any good at their expertise, can you go to someone else?

I have my own office where I look out a window ..

Me too.

I have a pension ..(yeah they still make those)

I'll concede that is a nice benefit.  Wish I had one.  Oh wait....I can set one up tomorrow if I feel like it.    No committee meetings, just call a TPA and do it.

I have recieved in the past stock options

I make my own hours

So do I.  How often are your sales meetings?

And no there are no nametags .. I wear a suit everyday

I wear jeans and a T-shirt unless I have a meeting.

and I am 35 with 10 years in the biz..

That's about how old I was when I started to get tired of the conflicts of interest and political BS, and started to think that "There must be a better way to do this."

Maybe that will never happen to you.  I don't think you have a crap life, it's just not as good as you think it is.  Either way, all my joking with you bank guys aside, it doesn't make you a bad person or less of an advisor.  You do need to realize that there are an awful lot of mouth-breathing pikers on your side of the business, and that is why people have certain stereotyped ideas of you.

SO if that is a crap life .. then call me s**te and pile me up..

just my 2 cents

Joe,

His life isn't as good as he think's it is?  There is more to life than owning your book as an indy and a higher payout.

If he (or anyone else for that matter) makes enough to keep them happy,then who cares what's being "left on the table."  If that was the case, then every wirehouse broker over 500K are idiots for not going indy.  It just isn't the case.

The largest producer I've ever worked with (close to two mil) was divorced, overweight, and stressed to the hilt.  I wouldn't trade places with him for his two mil, even if it was at 90%.

[quote=BankFC]

Joe,

His life isn't as good as he think's it is?  There is more to life than owning your book as an indy and a higher payout.

If he (or anyone else for that matter) makes enough to keep them happy,then who cares what's being "left on the table."  If that was the case, then every wirehouse broker over 500K are idiots for not going indy.  It just isn't the case.

The largest producer I've ever worked with (close to two mil) was divorced, overweight, and stressed to the hilt.  I wouldn't trade places with him for his two mil, even if it was at 90%.

[quote=BankFC]

Joe,

His life isn't as good as he think's it is?  There is more to life than owning your book as an indy and a higher payout.

If he (or anyone else for that matter) makes enough to keep them happy,then who cares what's being "left on the table."  If that was the case, then every wirehouse broker over 500K are idiots for not going indy.  It just isn't the case.

The largest producer I've ever worked with (close to two mil) was divorced, overweight, and stressed to the hilt.  I wouldn't trade places with him for his two mil, even if it was at 90%.

[/quote]

Honey Chile, you work for a bank. They own your book and they own YOU.

[quote=My Inner Child][quote=BankFC]

Joe,

His life isn't as good as he think's it is?  There is more to life than owning your book as an indy and a higher payout.

If he (or anyone else for that matter) makes enough to keep them happy,then who cares what's being "left on the table."  If that was the case, then every wirehouse broker over 500K are idiots for not going indy.  It just isn't the case.

The largest producer I've ever worked with (close to two mil) was divorced, overweight, and stressed to the hilt.  I wouldn't trade places with him for his two mil, even if it was at 90%.

[/quote]

Honey Chile, you work for a bank. They own your book and they own YOU.

[/quote]

Wow...great comeback....and honey chile?? Is it 1930??  C'mon, you can do better than that.

[quote=TheDude][quote=My Inner Child][quote=BankFC]

Joe,

His life isn't as good as he think's it is?  There is more to life than owning your book as an indy and a higher payout.

If he (or anyone else for that matter) makes enough to keep them happy,then who cares what's being "left on the table."  If that was the case, then every wirehouse broker over 500K are idiots for not going indy.  It just isn't the case.

The largest producer I've ever worked with (close to two mil) was divorced, overweight, and stressed to the hilt.  I wouldn't trade places with him for his two mil, even if it was at 90%.

[/quote]

Honey Chile, you work for a bank. They own your book and they own YOU.

[/quote]

Wow...great comeback....and honey chile?? Is it 1930??  C'mon, you can do better than that.

[/quote]

What about hunnah chow?

[quote=joedabrkr] [quote=whitewlfz]

And just to add for some of you out there that are convinced the bank program is awash with the can't hack'its or the afraid to try ..or to  young to whatever.. I just thought to give you a run down of where I work and let you decide for yourselves..

I have a book over 80 million in place

Yes but it's not really yours no matter how much you'd like to think that.  Piss off the wrong manager and they can start reassigning your accounts or branches to other advisors under the rubric of "providing better client service".

As for the reassignments of accounts has happened yet in time there I have been with the bank now for 4 years ..

I have an assistant that I share with one other producer

See above.  However, the excuse in this case will usually fall along the lines of "greater efficiency" or "expense control".

We have always had assistants to help with our biz.. just the ratio is no in alignment to really grow our practices

I grossed over $500k last year @ 35% with a 2 point bonus (paid in Feb)

That's only impressive when compared to other bank and credit union brokers.  I'll earn more than you on 250-300k gross, and the business is mine to do what I please with it

True enough statement about earnings ...as for the business make and how I earn it ..I am not dictated to nor am I instructed as to how the mix should be..and I can pretty muchly do as I please.

I have a team of people to call on from trust services to private lenders

How many of them really know what they're doing?  If aren't any good at their expertise, can you go to someone else?

Yes I can use whomeever I would like for my clients .. The bank's position is we are in the control seat with what is in the best interest of our clients.. so they do not interfere..

I have my own office where I look out a window ..

Me too.

As most inidie's do. .the point of that comment was to saw we don't all sit in cubes with our nametags and waiting for grandma to come in to sell her a fa ..

I have a pension ..(yeah they still make those)

I'll concede that is a nice benefit.  Wish I had one.  Oh wait....I can set one up tomorrow if I feel like it.    No committee meetings, just call a TPA and do it

Fair enough ..but understand that all falls in to the overall comp of the bank structure (so that when all the wire and inide snipers are taking potshots at us understand it is there)  NOT to mention if I can sweat it out ..there is no cap on what my comp is.. for example I am earning $1,000,0000 ((which there are guys in my bank doing this)) .. it is the average of 5 highest out of 10 years ..how cool eh).

I have recieved in the past stock options

No commetn eh?

I make my own hours

So do I.  How often are your sales meetings?

Once a week ..now mind you as being part of a corporate oragnism ..because really it is .. like that . I think ..more on my theory on that later...anyway we have them one time a week for one hour.. so not too bad .. other than that I am a freebird to be honest ..I have missed them on occassion to grab a coffee with a client or something of the like..

And no there are no nametags .. I wear a suit everyday

I wear jeans and a T-shirt unless I have a meeting.

I don't mind the suit ..personally but to have the option would be nice once in a while.. I don't think if I did though it would be jeans and a t-shirt ..but none the less..

and I am 35 with 10 years in the biz..

That's about how old I was when I started to get tired of the conflicts of interest and political BS, and started to think that "There must be a better way to do this."

Maybe that will never happen to you.  I don't think you have a crap life, it's just not as good as you think it is.  Either way, all my joking with you bank guys aside, it doesn't make you a bad person or less of an advisor.  You do need to realize that there are an awful lot of mouth-breathing pikers on your side of the business, and that is why people have certain stereotyped ideas of you.

I know there is alot of dead weight ..but in the current bank system that I am at ..we are restructuring so that those guys are the ones you see on the bank floor ..name badge toting types..then the rest of us are in an office somewhere ..now mind you it does lead to a conundrum we have been speaking about ..if the bank stops sending you an occasional lead (be it only $100k or something like that ..because at my bank that is the min. for a lead) .. what is the point of being there.. .. we have discussed that also .. and have talked seriously about where to go from there..

SO if that is a crap life .. then call me s**te and pile me up..

just my 2 cents

[quote=whitewlfz][quote=joedabrkr] [quote=whitewlfz]

EEK I NEED A TYPO MAKEOVER.. SEE BELOW FOR CORRECTIONS ...I THOUGHT TO DO THIS BEFORE THE ENGLISH NAZI'S RAINED A FURY OF COMMENTARY OVER MY LAST POST

And just to add for some of you out there that are convinced the bank program is awash with the can't hack'its or the afraid to try ..or to  young to whatever.. I just thought to give you a run down of where I work and let you decide for yourselves..

I have a book over 80 million in place

Yes but it's not really yours no matter how much you'd like to think that.  Piss off the wrong manager and they can start reassigning your accounts or branches to other advisors under the rubric of "providing better client service".

As for the reassignments of accounts It has not happened yet in my  time I have been with the bank Which is now for 4 years ..

I have an assistant that I share with one other producer

See above.  However, the excuse in this case will usually fall along the lines of "greater efficiency" or "expense control".

We have always had assistants to help with our biz.. just the ratio is now in alignment to really grow our practices but even before we shared them on a ratio of 1 to 4 producers.. good for paperwork not good for customer serives ...but now that is different

I grossed over $500k last year @ 35% with a 2 point bonus (paid in Feb)

That's only impressive when compared to other bank and credit union brokers.  I'll earn more than you on 250-300k gross, and the business is mine to do what I please with it

True enough statement about earnings ...as for the business I make and how I earn it ..I am not dictated to nor am I instructed as to how the mix should be..and I can pretty much do as I please.

I have a team of people to call on from trust services to private lenders

How many of them really know what they're doing?  If aren't any good at their expertise, can you go to someone else?

Yes I can use whomeever I would like for my clients .. The bank's position is we are in the control seat with what is in the best interest of our clients.. so they do not interfere..

I have my own office where I look out a window ..

Me too.

As most inidie's do. .the point of that comment was to say we don't all sit in cubes with our nametags and waiting for grandma to come in to sell her a fa ..

I have a pension ..(yeah they still make those)

I'll concede that is a nice benefit.  Wish I had one.  Oh wait....I can set one up tomorrow if I feel like it.    No committee meetings, just call a TPA and do it

Fair enough ..but understand that all falls in to the overall comp of the bank structure (so that when all the wire and inide snipers are taking potshots at us understand it is there)  NOT to mention if I can sweat it out ..there is no cap on what my comp is.. for example I am earning $1,000,0000 ((which there are guys in my bank doing this)) .. it is the average of 5 highest out of 10 years ..how cool eh).

I have recieved in the past stock options

No commetn eh?

I make my own hours

So do I.  How often are your sales meetings?

Once a week ..now mind you as being part of a corporate oragnism ..(because really it is .. like that . I think ..more on my theory on that later...) anyway we have them one time a week for one hour.. so not too bad .. other than that... I am a freebird ans to be honest ..I have missed them on occassion to grab a coffee with a client or something of the like..

And no there are no nametags .. I wear a suit everyday

I wear jeans and a T-shirt unless I have a meeting.

I don't mind the suit ..personally but to have the option would be nice once in a while.. I don't think if I did though it would be jeans and a t-shirt ..but none the less..

and I am 35 with 10 years in the biz..

That's about how old I was when I started to get tired of the conflicts of interest and political BS, and started to think that "There must be a better way to do this."

Maybe that will never happen to you.  I don't think you have a crap life, it's just not as good as you think it is.  Either way, all my joking with you bank guys aside, it doesn't make you a bad person or less of an advisor.  You do need to realize that there are an awful lot of mouth-breathing pikers on your side of the business, and that is why people have certain stereotyped ideas of you.

I know there is alot of dead weight ..but in the current bank system that I am at ..we are restructuring so that those guys are the ones you see on the bank floor ..name badge toting types..then the rest of us are in an office somewhere ..now mind you it does lead to a conundrum we have been speaking about ..if the bank stops sending you an occasional lead (be it only $100k or something like that ..because at my bank that is the min. for a lead) .. what is the point of being there.. .. we have discussed that also .. and have talked seriously about where to go from there..

SO if that is a crap life .. then call me s**te and pile me up..

just my 2 cents

In my bank program I more often that not LOVE when accounts get reassigned.

Since in a bank program we have a "territory", about once a year my manager asks me which accounts I would like to have reassigned that are out of this territory.

This pares my book of business and allows me to focus on more quality accounts.

scrim

[quote=whitewlfz]

Fair enough …but understand that all falls in to the overall comp of the bank structure (so that when all the wire and inide snipers are taking potshots at us understand it is there)  NOT to mention if I can sweat it out …there is no cap on what my comp is… for example I am earning $1,000,0000 ((which there are guys in my bank doing this)) … it is the average of 5 highest out of 10 years …how cool eh).

As a point of fact under current tax law your qualified DB plan cannot consider more than your first $170,000 in income for purposes of calculating your pension benefit.  Still, that's a nice income supplement.

I have recieved in the past stock options

No commetn eh?

Sure-I'll comment-

1.)  First of all at my end I own the whole darn thing, so I don't need stock options. ;-)

2.)  I'll take a higher net cash flow over options any day.

3.)  FWIW some of the larger producers at my b/d a few years ago were granted options that-if we ever go public-could be worth quite a bit from what I understand.  I was affiliated with the firm when those grants were made, so we'll have to see what the future brings.