- 30 years of private client sales management with Barclays Wealth Americas and Lehman Brothers
- Managing Director of San Francisco/West Coast wealth management
- Head of Fixed Income Sales in Asia for Lehman Brothers
- All 7 Best Practices
- Pre-Meeting Discovery Process
- One-on-One Call with Expert
- Meeting Summary Report
- Post-Meeting Engagement
Building an Individual High-Net-Worth Franchise for Financial Services Firms
- Commission-based transaction model
- This is the traditional transaction model in which traders make a straight commission on transactions. The goal is to maximize the number of transactions , with each transaction a visible sale that can be counted on a day-to-day basis. The industry is moving away from this commission-based model to a fee-based structure.
- Fee-based transaction model
- In the fee-based transaction model, a sum of the client’s funds are invested in a balanced portfolio. A fee is charged based on a point system and paid out on a per annum basis. In the commission-based world, traders can easily track their trades and scratch their sales itch everyday. In the fee-based model, the itch doesn’t get scratched daily.
- High net-worth franchise
A financial services firm that serves the investment needs of wealthy individuals.
- Psychic income
- Non-monetary or nonmaterial rewards or satisfactions that serve as incentives to work in certain occupations or environments.
The Financial Industry Regulatory Authority (FINRA), is an independent regulator for all securities firms that conduct business in the U.S. Form U4 (Uniform Application for Broker-Dealer Registration) is used by broker-dealers to register persons associated with self-regulatory organizations and jurisdictions. Representatives of broker-dealers and investment advisers use Form U4 to register with the states and with organizations such as FINRA.