MGED Money:



No I am not all over the map. At this point I could care less about the

payout. To date, I am three times my current AUM requirement. But I am

having a hard time hitting the revenue threshold. Therefore the fastest

way for me to maintain top tier, is to do annualized business (1.5 grid).

No, the revenue thresholds don’t have to be all annualized business but

PPA, Access, Vision, Custom are the easiest ways to get there.   Not to

mention there some great managers available tough Access.   



I am not going to disagree that I am inexperienced. But I don’t care how

long you have been in this business it is GD hard to hit Production

thresholds at Morgan and Merrill when starting from scratch. Which was

my original point.



Especially if you are primarily cold calling.

“Through“ not tough… long day!!

[quote=DirtyDeltaBro]MGED Money:



No I am not all over the map. At this point I could care less about the

payout. To date, I am three times my current AUM requirement. But I am

having a hard time hitting the revenue threshold. Therefore the fastest

way for me to maintain top tier, is to do annualized business (1.5 grid).

No, the revenue thresholds don’t have to be all annualized business but

PPA, Access, Vision, Custom are the easiest ways to get there.   Not to

mention there some great managers available tough Access.   



I am not going to disagree that I am inexperienced. But I don’t care how

long you have been in this business it is GD hard to hit Production

thresholds at Morgan and Merrill when starting from scratch. Which was

my original point.



Especially if you are primarily cold calling.





[/quote]

You’re right about it being tough, and you’re right about the production numbers being hard to hit. I’m a month behind you in the program, and while my AUM are almost $3MM, my production number probably won’t even hit the $9m 2nd tier threshold at the end of this first quarter.

All of the money I have brought in came from other wirehouses, and the whole process just takes time.  Between the account opening process, and then the ACATS, and then the managers finally incepting the accounts, there were many weeks of production dollars lost while waiting for the whole process to complete.

However, I’m taking a long term view, and I know that as long as I keep bringing in the assets at the rate I have done so far, and as long as I’m able to put most of the money into PPA or Access, then I’ll be just fine, and I’ll actually have a business that I can live on when the program is over.

I am following a similar path.  I do enough transactional business (A shares, Annuities etc.) to hit my goals and everything else goes straight into a fee-based account. 

Since I also cover 5 bank branches, I get a number of fixed annuity 1035 opportunities each month which really helps.

All of the money I have brought in came from other wirehouses, and the whole process just takes time.  Between the account opening process, and then the ACATS, and then the managers finally incepting the accounts, there were many weeks of production dollars lost while waiting for the whole process to complete."

The best feeling is when you start to hit your stride... You are meeting with prospects, making them clients, submitting ACAT's, and moving on...

Every week or so you are getting a new client, that account from someone else finally comes in, you invest the money, meet with those 3 new prospects, etc, etc. You get into a cycle like this and it gives you momentum and makes the business worth the stress and long hours...

MGED Money:





So how are you doing it? Existing contacts, cold calling, networking?

Did you start with any money?



I pound the phone all day for 5 contacts.



You are doing really well. How old are you??





Dirty