I’m a first year financial advisor through Thrivent. Have series 7, 66, life and health in every state. We have a 50k base salary and technically unlimited commission but our company schedule makes it so hard to actually make any commission I’m wondering how long I can sustain this. I’ve been in the top of the new advisors for several months and am only getting $200/month in commission. What are other similar positions making at other firms?

likesmarthelpful
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Come over to Edward Jones. Way better of a firm to build a book in the long run. We give guaranteed salaries for the first 4 years and then a flat 40% payout. With profit bonuses, high level advisors easily make 50-60% payout.

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Hi FA, can I recommend getting your CFP if you want to stay as an advisor? Once I did I reached out to different firms and ended up getting a firm offer from Facet for 100k salary + bonus and stock options, 100% remote too.

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#advisors #finance

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What might be a good pivot point is to focus on a specific niche within Advisory. For instance, I work along side an Advisor who has been very successful exclusively targeting Veterinarians. Feel free to DM me to chat about this.

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This is so true. The massive wealth transfer within the next 10-15 years as Boomers pass is going to be insane.

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Do you do a lot transactional business (traditional brokerage) or more managed business? $200 a month seems ridiculously low.

likesmart

Mostly transactional. Mutual funds and life insurance. A few scattered annuities and lots of retirement planning. For example I had three appointments with a family who ended up writing two whole life insurance apps on their kids. The total comp was about $30 for that. It just seems like I’m going to have to do an insane amount of work to get back
To the 65k I was at before I came here.

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