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I met someone and their son is a director at Morgan Stanley. He told me to give him a call and potential have a talk about working there . How are Morgan Stanley advisors compensated. I ask because I left another firm and they have tried to charge me charge backs on commissions that have come back.
And another one bites the dust
Anyone knows about the base for chase PCA?
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still think the retention fee on managed accounts is rediculous
What does retention mean?
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.
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!
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!
and we get less service all around, don't see where we get any type of better service for the retention fee
Our company repeatedly changes their comp plan. It is so complicated that almost no one actually understands it!
It’s frustrating to say the least. I wouldn’t mind it if the back office was more helpful...