Skorp1o you dork

[Skorp1o]

Cool. So you contract out to companies? You're not an actual employee of any one firm or institution?

Are you guys private yourselves or govt workers?

Hope you don't mind me asking - I love talking shop with other people in various finance-related industries.

I've done a few different things in finance in the past couple of decades - started out in consumer lending & became a manager of branches for a couple of companies. Moved up the food chain a bit to mortgage lending, eventually had my own mortgage brokerage for a while, which I sold out at a good time to a big lender. Did a little time in retail banking - hated it but got some securities / insurance licenses. Then on to a big broker dealer for a few years (more licenses, built up a good client base), and finally opened up my own shop several years ago - strictly accredited investors now.

No, it's 100% freelance...I would invoice via my own Ltd company which is created solely for this purpose and to also hold an Indemnity Insurance.

Contracting work is usually through a large consultancy firm i.e. E&Y, KPMG, Deloitte....etc. They are tasked by let's say as a good example Barclays to clean up the post-Libor scandal issues. the consultancy firm may not have all the relevant expertise internally through it's employees, so they employ the services of freelance consultants to plug the gap. 

[2Thick]

No, it's 100% freelance...I would invoice via my own Ltd company which is created solely for this purpose and to also hold an Indemnity Insurance.

Contracting work is usually through a large consultancy firm i.e. E&Y, KPMG, Deloitte....etc. They are tasked by let's say as a good example Barclays to clean up the post-Libor scandal issues. the consultancy firm may not have all the relevant expertise internally through it's employees, so they employ the services of freelance consultants to plug the gap.  

So you're doing this in addition to the partnership / supervisory position at the brokerage / I-banking firm? Must have done lots of tapdancing to convince the powers that be that there would be no potential conflicts of interest. And life must be very hectic as well. 

[Skorp1o]

So you're doing this in addition to the partnership / supervisory position at the brokerage / I-banking firm? Must have done lots of tapdancing to convince the powers that be that there would be no potential conflicts of interest. And life must be very hectic as well. 

I moved on from contracting some time ago and consolidated my 4/5yrs of contracting exp into one role that came along.

...............which meant within 4/5 years I worked at pretty much just about every big Bank in the city charging a hefty daily rate and paying a lot less tax as I invoiced from a LTD company and claimed expenses...etc. 6mths here 6moths there...all on specific projects, this beefed up my CV then consolidated this into one role when the right opportunity (salary and bonus) came along.

[nzmusclemonster]

i have carpe diem tattooed down my ribs

seize the fucking day mother fucker

Outed in this thread.

[2Thick]

I moved on from contracting some time ago and consolidated my 4/5yrs of contracting exp into one role that came along.

Oh, I thought you were saying you were still doing the contracting. I must have missed that.

I'm strictly paid on incentives - managed money for the most part, which is an especially beautiful thing once you get into nine figures or so AUM and can keep it.  

Have several different funds for clients - one a conservative income, one more moderate with value / dividend stocks and higher yielding bonds, and one an unconstrained (pretty much anything goes - all sorts of stocks, quick trades, options, long/short, commodities, junk bonds, etc) aggressive growth / value / allocation type fund that is not meant for everyone and that I have much of my own money in - go 2/20% there.

A few things here and there in addition pay pretty modest extra upfront commissions on things like insurance products - none of that 5-8% plus though that I've seen some people get scalped on at some firms and insurance companies. Mainly the odd variable annuity with a little upfront and a trail from the carrier and some insurance policies here and there - some types of insurance can be a good way for the super rich to get tax free appreciation and to take some money out of the estate and away from any potential estate taxes, creditors, law suits, etc.

[el numero uno]

No rocket science. There's two part of me, one is entrepreneurial and one is hard grafting and methodical. The first one I failed at miserably, but I am still trying and never give up, the second one exceeded my expectations.

I was at Uni, everyone was dreaming about what they wanted to do...I knew no matter what job I do I will get bored of it and might even hate it, but I like earning a decent packet, did my research and based on my skills I knew a career in the City is the way to go, the pay there was at time ridiculous...and seriously it is, some people from the outside just don't realise how much some people are getting paid to do a day job. Anyway, I'm not good at maths but I have a kick ass memory and logical view to problems...so I went into Law, then creeped into financials services Compliance/Legal and pretty much stuck to one line of work and subject from day one.

One thing I am good at is selling myself and closing gaps in m CV/ability to move up to the next job at the next bigger company....but like anything else a bit of luck helps. 2008 crisis fucked me over in some ways (my buy to lets got fucked) BUT it didn't take long for me to realise it was a mixed blessing, the financial scandals meant demand for my job sky rocketed, we were needed to fix things when the regulators were all over everyone....I joined a big consultancy company and contracted for them on all their projects, which meant within 4/5 years I worked at pretty much just about every big Bank in the city charging a hefty daily rate and paying a lot less tax as I invoiced from a LTD company and claimed expenses...etc. 6mths here 6moths there...all on specific projects, this beefed up my CV then consolidated this into one role when the right opportunity (salary and bonus) came along.

I forgot about this thread lol. I spend a lot of time thinking about what can I do to be able to live the dream. I still haven't come up with anything.

[Kim Jong Bob]

We agree on something.

I just wish Junior would post as Junior. I thought he was/is an interesting bloke.

He ruins it with his gimmicks and his tantrums.

thing with junior is that when he is not a backstabbing trashtalking asshole maniac thats when he trolls