Me: (FSA) at Merrill Lynch. I see tremendous opportunity to leverage the Merrill brand and its vast advisor network.

recently received an offer from an independent firm with $ 150MM and $1.4 MM PC( as a junior partner)

Comp structure:
• Year 1: 10% profit sharing + $50,000 base salary + 100% of revenue I personally produce
•year 2: 20% profit sharing + 100% of my production
• Year 3 and beyond: 30% profit sharing + 100% of my

no 401(k) and health insurance

Worth leaving Merrill?

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Posting as :
works at
You are currently posting as works at

Owning your own book and being independent mean everything. Having a senior adviser transfer his book is huge as well, provided you have that in writing, including such details as a timeline. I think the choice is pretty clear.

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What’s your prospecting plan without Bank of America giving you leads? Bank advisors can often struggle with this transition if they are too comfortable receiving referrals from bankers and not used to cold prospecting on their own.

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Would you be an employee or independent contractor?

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Its hybrid

For the profit sharing portion( sharing his production credit), I will be an employee of his company.

For my own production, I will be an independent contractor with the broker dealer

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Would you own your book?

I would own my own book of business, and the senior advisor will be eventually transferring his book to me.

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