I want to mention this for the insight of current/future rookies:

It is incredibly difficult to gather 10-15 million in fee based-business in 12-18 months.  Extremely difficult.  Unless (of course) you are unbelievably connected and your Uncle is going to have you manage his 5 million dollar IRA for an annual fee of 1%. I don't care how many calls you make, or who you go after.  It takes a lot longer, and many of those first clients will be on bond trades, mutual funds, stock ideas, etc.  They are not handing you their entire portfolio to manage; in addition many of them (at first) will be fee-sensitive and will only react favorably to a bond purchase/C-share/new preferred/etc. 

I'm not saying this to be negative.  Quite the opposite.  I work my tail off on a daily basis and I consider it a very good month when I gather 2 million in outside assets and "wrap" them.  And (trust me) I've got quite a few clients/referrals to call on.  Still, it's a battle and to achieve the goals' I've set for myself it's a constant struggle and a treadmill of sorts. And so it goes.... 

MMM-

Rightway and Bondguy are dead on.

Maybeee is mistaken, although I suppose it depends what firm you got to. No way the big wirehosues are going to give you only a 10-20% payout while on salary.

[quote=joedabrkr]

[quote=Broker24] [quote=maybeeeeeeee]

[quote=NOVA]top 20%

will make 85K in the

first year of production.[/quote]

That is complete BS. Top 10% will make 50k revenue in their first

year. Pay out on that will be 10-20% or $5,000 to $10,000 while you are

receiving a salary.

[/quote]



Am I reading this wrong? Are you including the training period and

everything from day 1 of employment? This sounds remarkably low. I

came out of the gate quicker than many, but I am certainly not in the top

10%, and I made more than that.[/quote]



That’s because you’re part of the “best sales force on Wall Street”…



Sorry…couldn’t resist!

[/quote]



Hey, no problem. I just thought it seemed a rather low production

number and payout rate for the “top 10%”…



Sooo, I guess I shouldn’t walk around knocking on doors with that giant

"S" on my shirt?