More FOLIOfn notes37

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  trond24 mail Quote this post Address this userPlus 1 0
I finally (finally!!!) have gotten started! RIA-In-A-Box is working with me.

So I had contacted FOLIOfn, he (Ken L) said to let him know when I had my ADV and we would figure out the fee schedule. I told him that I needed to get that decided *before* I could do my ADV, lol..

I finally got him to commit this AM to the 25 bp / $150 minimum structure. Not really happy since I am willing to take on smaller accounts, even if I'm only making a few cents on them.... and of course this will raise the minimum (without subsidizing) to around $12K. I have quite a few friends who for some reason all seem to have exactly $10K or so for early placement with me! I guess I'll be subsidizing for a year or so, just to get some extra assets started.

Anyhow, thought I'd share that I'm finally getting started and my experience with Folio's rep.

Regards,
Trond
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View plandfreedom's profile. plandfreedom mail Quote this post Address this userPlus 1 0
Trond, that's my Folio rate too. Yes, I am having to subsidize smaller accounts. Hopefully, through your quarterly communications, clients will be convinced to invest more.

I wish Folio got rid of the silly minimum fee.

-Mike
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