Financial Advisors

Interested to see how my comp structure compares to the industry. If your GDC was $600k+ what would your payout be?

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PB, I meant AUM - your total Assets Under Management, usually a $ amount. Glad to take the convo off line, what firms should be looking for and asking about is the turn on assets, usually 1% is a reasonable rate, could be higher if there is options business or a highly traded book. Usually the higher the turn, the lower the payout due to the risk associated with the business mix. Based upon that standard, this should be a roughly $60 mil book if all bd assets. Also, the focus of the practice could come into play, we are significantly involved in the Impact/ESG/SRI space and look for advisors, especially women and younger advisors in that space or more mature advisors looking to bring their practice to the next level. Finally, the #1 thing that All advisors should be seeking when joining a firm is culture and cultural match, can you see yourself working with this firm for the long term or will this be a short stay. We only associate with culture matches for the benefit of all involved!

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The chain of conversations has a keen focus on payouts and percentages, but has an element of neglecting an overall value prop, true value prop at that. This speaks to our environment as a whole that is overdue for the disruption that is coming. XY Gen has more money than a large portion of baby boomers, yet 80% of them don’t work with anyone. There is a reason for that in my belief. Payout is vitally important, but if you’re making 50% less bc of the structure, then I believe it’s relevance is diminished quite a bit and weighing the importance of an 80% payout vs. 40% is low on the totem pole. We believe providing real value through scaled Family Offices services to Mainstreet Advisors is changing the way the wealth management industry will operate by balancing the human touch with relevant technology, not neocortex based tools clients don’t value yet advisors are WAY overpaying for...Cheers and thank you all for sharing your experiences. -David M. CEO, PeachCap

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Edj depends on the firms bonus bracket. 40% net so 240k plus profit bonus which would probably run 60-80k plus profit sharing which would be probably 15k. Also if you're doing 600+ you're almost certainly a limited partner so you're getting 20% per year on average in partnership returns. So let's say another 20k there if you had 100k in partnership. So like 340-350k plus a couple really nice trips per year.

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Sickle, I think you know exactly what they are asking.... a RIA payout isn’t the same as what he’s asking.

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We are at 92%. I love my independence. I can afford some really nice trips and get away for 4 weeks at a time. I have a great team and support staff.

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70%. But everyone is at every level. So the 600k isn’t relevant. Good luck!

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100%.

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Consider your net payout after expenses. For years firms have been bumping up our costs but offering 90 when the net is probably closer to 85

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In the Edj example, what type of costs would a limited partner have?

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90% GDC

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Interested in this as well thanks for posting

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85% after ticket charges on transactional (TC taken by BD, for example, sell an annuity, it's $20... Sell aUIT $40, so I'm moving to mostly fee based, I've figured after rent and ticket charges, and technology pay to firm, I'm at 78-80% payout net.

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100%

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Financial Advisor 3, looking for firm payout the the employee

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No the firm pays for your rent, trading, compliance, national marketing, your assistants salary. You're also a w2 employee so they cover their end of the payroll tax so you don't pay self employment tax. The only thing you'd be out of pocket for is if you wanted to do seminars the firm pays half and you pay half. Although if you team up with a wholesaler usually the wholesaler will cover your part.

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40% payout. Company pays 100% expenses and Pays 100% of health insurance. 401k, etc. No cold calling or door knocking ever.

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@Prosperity Capital. For the past 30 years we have only received leads through tax returns we prepare and word of mouth. We spend almost nothing on marketing! We are looking to add some marketing dollars, just have never needed to. We do not cold call or knock on doors. All clients come to us for tax prep and stay for financial planning.

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@FA3 That’s great! We have a tax practice as well and a lot of our financial clients come from there but we don’t maximize it like we could. Sounds like you guys have a solid system.

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FA2.....he is Series 24. Not 24 yrs old.

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90

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Is that 90% payout?

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