he got his 3 letters then started trying to build a book. 26 with 65m in aum. bsd or nah? das pretty fast right.1 year of real hustle work.
what city?.. any info if most of it is friends/family?
Seems pretty impressive for a 26-year-old with no experience to have people give him $65mm to manage. Where does this money come from?
straight up hustle. we had same middle class background. no connections at all. he has about 4 yrs exp in investment industry as analyst. but only 1 year in advisory role. just got his charter though. LA. sounded like he cold called people like crazy.
That’s BSD status. His book is probably generating $650k in fees assuming a 1% management expense. What’s his cut?
That sounds like an incredible start, best of luck to him.
65MM in one year all by himself? That is an amazing start.
If just 65M, (as in $65,000) then not so much.
wow that is super impressive. BSD for sure.
65 million. i mean i wasnt going to ask him what his cut is. but i have a general idea. if i had to guess. it’d be a quarter of it. prolly not all aum is fee based. nevertheless though. he stacked it in 1 year. i know 1 dude who built 15m that took 5 years. from the looks of it though, my buddy is only dealing with high net worth peeps and no pikers.
isn’t 2/20 standard? nonetheless, very impressive for 26 yr old.
^ For a hedge fund.
Nery’s buddy is a financial advisor. Most FA’s get a cut of the gross revenue produced from their book.
More revenue --> higher percent of the keep
thought FAs get certain percentage of the money they manage and no performance fees regardless of reveunes produced. Some of my friends who do this on their own charge .8% for fixed income and 1% for equities. Also the fees go slightly lower for larger clients.
^ Yup. Race to zero. This is why financial services is a tough racket.
I mean, $65mm AUM is a decent living even for an experienced-but-not-awesome advisor. There are a lot of variables, but if he’s at a decent shop and he’s not on a team where he has to split commission, he’s pulling down six figures easy.
Keep an eye on him. Either he has a lot of wealthy friends / family members and he’s now tapped out, or he generated this organically and he’s on his way to being a top tier advisor. Not bad either way.