January 20, 2013
Editor’s note: This case study is based on an actual client, whose last name has been withheld in the interest of privacy.
ROB is a wirehouse adviser based in the Pacific North-west who has spent a professional lifetime with the same firm.
He was 25 when he joined the wirehouse almost 30 years ago, and he earns a living that has far exceeded his wildest expectations. Over the years, he has largely been content. He has felt a sense of loyalty to his firm because he believes it has brought him a level of credibility and respect that he might not have gained elsewhere.
Today he generates just over $3 million in annual revenue and manages approximately $400 million, mostly for high-net-worth clients. Seventy percent of his business is fee-based, with the balance in mutual funds, structured products and some individual equities.
