I'm Wondering if There Will Be a Place for the Agent in Trump Care?

[junkman]

excuse me dude... My wife works on Wall St, has worked on either London Wall or Wall St for well over 15 years... before you start passing your uneducated thoughts on how Wall St rolls I suggest you get certified to work on the floor.

No,one cares.

I used to have sex with a girl that was certified. Does that make me an expert? I was expert at banging her but women say they lie about that so who knows?

Don't buy stocks from nieman. Gotta get them worth the money. We had a garment factory insured. Manufacturing cost on a $90 Polo sweater was ~$6.50. Financial analysis confirms that suit is over priced. Car forums call it "all show and no go".

 

[Key2Success]

No,one cares.

I used to have sex with a girl that was certified. Does that make me an expert? I was expert at ***ing her but women say they lie about that so who knows?

Pops, don't buy stocks from nieman. Gotta get them worth the money. We had a garment factory insured. Manufacturing cost on a $90 Polo sweater was ~$6.50. Financial analysis confirms that suit is over priced. Car forums call it "all show and no go".

Drinking again???

 

[nylife11023]

excuse me dude... My wife works on Wall St, has worked on either London Wall or Wall St for well over 15 years... before you start passing your uneducated thoughts on how Wall St rolls I suggest you get certified to work on the floor.

You can make some money on the floor but most often not a hell of a lot given the stress of the job:

Floor Broker Salaries by education, experience, location and more - Salary.com

The money is here:

Wall Street Bonuses: Bankers Make 5 Times Average Worker | Fortune.com

The New York State comptroller, Thomas DiNapoli, in his annual survey of financial sector pay, which came out on Wednesday, found that the average Wall Street made $388,000 last year, or five times the average of what workers in all other industries got paid. What's more, DiNapoli found that profits on Wall Street rose 21% last year to $17 billion.
​

Tell your 'certified' wife to get off the floor and into investment banking or M&A or hedge/mutual fund management. Even if she is average she will double what she makes on 'the floor.'

Of course there are 'costs' mostly in travel, especially in M&A... she will be on the road some 200 nights a year. Of course, being married to you... that might be a blessing!

 

[Key2Success]

You can make some money on the floor but most often not a hell of a lot given the stress of the job:

Floor Broker Salaries by education, experience, location and more - Salary.com

The money is here:

Wall Street Bonuses: Bankers Make 5 Times Average Worker | Fortune.com

The New York State comptroller, Thomas DiNapoli, in his annual survey of financial sector pay, which came out on Wednesday, found that the average Wall Street made $388,000 last year, or five times the average of what workers in all other industries got paid. What's more, DiNapoli found that profits on Wall Street rose 21% last year to $17 billion.
​

Tell your 'certified' wife to get off the floor and into investment banking or M&A or hedge/mutual fund management. Even if she is average she will double what she makes on 'the floor.'

Of course there are 'costs' mostly in travel, especially in M&A... she will be on the road some 200 nights a year. Of course, being married to you... that might be a blessing!

Do you think nylife runs to his closet and amuses himself with his Bernie Madoff puppet sock after each of his posts????

 

[taterpeeler]

No,one cares.

I used to have sex with a girl that was certified. Does that make me an expert? I was expert at banging her but women say they lie about that so who knows?

Don't buy stocks from nieman. Gotta get them worth the money. We had a garment factory insured. Manufacturing cost on a $90 Polo sweater was ~$6.50. Financial analysis confirms that suit is over priced. Car forums call it "all show and no go".

Hey junkman... and you high? give you 500 bucks to come where i am and say that chit to my face... bring it bitch

 

[AllenChicago]

I heard in Ethics class yesterday that there's a new rule coming next month called Fiduciary, which will reduce a lot of incomes in the financial industry. No? Yes?

 

[tonyisme]

Ask them in ethics what is diff between fiduciary income and intermediary income. Some of our International carriers call us intermediaries

 

[junkman]

Hey junkman... and you high? give you 500 bucks to come where i am and say that chit to my face... bring it bitch

Send me the cash.

 

[kgmom219]

I heard in Ethics class yesterday that there's a new rule coming next month called Fiduciary, which will reduce a lot of incomes in the financial industry. No? Yes?

Its called the DOL Fiduciary Rule. In English, itsmeans that financial advisors can no longer receive commissions in most cases and need to become fee based advisors.

Its going to reduce incomes as the transition occurs, but in the long run, they should be fine. Most of them started the transition when it was approved 3 years ago.

But there is a LOT of freakout in the FA world right now.

 

[scagnt83]

Its called the DOL Fiduciary Rule. In English, itsmeans that financial advisors can no longer receive commissions in most cases and need to become fee based advisors.

Its going to reduce incomes as the transition occurs, but in the long run, they should be fine. Most of them started the transition when it was approved 3 years ago.

But there is a LOT of freakout in the FA world right now.

Not exactly, but kind of close.

1.
It only applies to IRAs and other Qualified Retirement Accounts.
(such as a 401k/403b/SEP)


2.
It does not eliminate Commissioned sales.

It does create a higher standard of "Suitability" and much higher standard of Liability for Commissioned sales. It also puts the B/D on the hook for Suitability and not just the Advisor. So the big financial firm behind it all now has A LOT more skin in the game on a sale. (again, only for an IRA or other qualified plans)

This is all done via the BICE clause of the regulations.


3.
It will reduce income for some, but not all. Just the threat of this legislation has started to cull out a lot of the "bad" products that really had no place being sold anyway. Of course those products paid the highest comp.

Stock Jocks who sell the "fund of the day" will certainly see a hit. As they should imo.


- The real problem with this is not how it affects Advisors, but how it affects Consumers. Any advisor with half a brain can adapt and survive this legislation easily.

The problem is big BDs are not willing to accept the increased liability (they dont trust their own stock jocks advice... go figure). So all the small IRA accounts (think under $1mm) are being pushed into RoboAdviser Accounts. That means no more custom tailored retirement advice for mom and pop with their tiny $500k IRA... but done worry, the computers have your back.