Financial Advisors

Pru’s comp plan changes were just announced for next year. Do all companies change frequently? I feel like this is my 6th big change in 9 years.

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still think the retention fee on managed accounts is rediculous

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What does retention mean?

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We’ve had almost No comp plan changes in the 16 yrs I’ve been at EJ. I mean a small tweak here and there based on regulation, but No meaningful overall changes. It’s Awesome to know how you will be compensated yrs into the future.

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EJ Comp Plan is 40% of Gross + Branch Profitability Bonus + LP Returns + 2 - 5Star Trips per year + Profit Sharing Contribution that averages about 4.5% of your total Comp + Full Time Assistant + Your own Office + All Technology + Partial Health In’s Costs. I think that’s about it. And it never changes!

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Insurance companies\BDs are an obsolete and broken system that will go the way of Met Life in the near future. With best interest and fiduciary becoming more prominent it will be difficult for Captive employees to justify selling proprietary products when they are incentivized to do so. Save your sanity and move to a non-insurance BD now, you'll be happier. I am!

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and we get less service all around, don't see where we get any type of better service for the retention fee

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Our company repeatedly changes their comp plan. It is so complicated that almost no one actually understands it!

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It’s frustrating to say the least. I wouldn’t mind it if the back office was more helpful...

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