PM me when you get a momnent and I will pass on some good stuff to make you feel better about your decision.

  When are you going?

AGEMAN:

I am doing due diligence on Fi Net and I am set to go to their next meeting in STL in October. When I spoke to the regional manager and asked him questions I seemed to know more about the differences in fees from PCG to FiNet than he did which was a little disturbing. For instance the p/h fee is higher–the client pays over $30 to sell a mutual fund since they aren’t collecting the tx charge from you they have to gouge the client for it. Have these differences been a problem for anyone since they moved over??

I am moving to Finet in one month. The reason the Finet guys don't know what PCG charges are ....is they are from Richmond and have really never thought of themselves as Wachovia or wells guys. I like that . The 30 buck to sell a fund fee can be picked up by you as a business owner. Remember when you go independent you get a higher payout but you are the owner. Expenses are yours now, not clients. You also own your business and if you want to sell it you will get more for it than if you stay as a employee anywhere.

AGEMAN:

[quote=Redpen] [quote=AGEMAN] I am doing due diligence on Fi Net and I am set to go to their next meeting in STL in October.  When I spoke to the regional manager and asked him questions I seemed to know more about the differences in fees from PCG to FiNet than he did which was a little disturbing.  For instance the p/h fee is higher–the client pays over $30 to sell a mutual fund since they aren’t collecting the tx charge from you they have to gouge the client for it.  Have these differences been a problem for anyone since they moved over??[/quote]

I am moving to Finet in one month. The reason the Finet guys don’t know what PCG charges are …is they are from Richmond and have really never thought of themselves as Wachovia or wells guys. I like that . The 30 buck to sell a fund fee can be picked up by you as a business owner. Remember when you go independent you get a higher payout but you are the owner. Expenses are yours now, not clients. You also own your business and if you want to sell it you will get more for it than if you stay as a employee anywhere.

They have paperwork that says they have the same fees as PCG, but it is not entirely true.  I had to educate the FiNet guy on the things that were not accurate about their promotional paperwork.[/quote]   Wow, imagine that.  Something from WFA that isn't really accurate, maybe even a bit misleading.  I am shocked.

I know it may seem more seamless to go from Wachovia(Wells Advisors) to Finet, but you owe it to yourself to look at other platforms.   I left ISG and went to LPL.  My clients have been very happy with the change and I have not had any clients that have regretted their decision to come over to LPL.  I have retained about 85% of my fee based clients who were in custom choice or asset advisor(I did not do any fundsource).  I have retained about 90% of all my 1% annuity business.  You can control your cost using participating funds or partially participating funds.  The max charge for a fund is only $26.50.

   

AGEMAN:

[quote=Redpen] [quote=AGEMAN] I am doing due diligence on Fi Net and I am set to go to their next meeting in STL in October. When I spoke to the regional manager and asked him questions I seemed to know more about the differences in fees from PCG to FiNet than he did which was a little disturbing. For instance the p/h fee is higher–the client pays over $30 to sell a mutual fund since they aren’t collecting the tx charge from you they have to gouge the client for it. Have these differences been a problem for anyone since they moved over??[/quote] I am moving to Finet in one month. The reason the Finet guys don’t know what PCG charges are …is they are from Richmond and have really never thought of themselves as Wachovia or wells guys. I like that . The 30 buck to sell a fund fee can be picked up by you as a business owner. Remember when you go independent you get a higher payout but you are the owner. Expenses are yours now, not clients. You also own your business and if you want to sell it you will get more for it than if you stay as a employee anywhere.

They have paperwork that says they have the same fees as PCG, but it is not entirely true. I had to educate the FiNet guy on the things that were not accurate about their promotional paperwork.[/quote]



That would be news to me. As you know they , like all independents charge admin fees on fee based accounts and for me that is twice what ticket charges are. LPL has higher ticket charges than Finet and will charge acat fees to you or clients to move. in my case that is 100,000 bucks . So are better off if i eat the 15 % and eat the 30 buck sell now and then and watch my expenses?