I'd say you're training someone to leave you when there are firms starting newly licensed Advisors at 60%. And firms starting salaries at $50-$75k. If this person is going to add value to your practice, run the #s on what you want them doing. Don't be cheap. Licensed Advisors doesn't equal intern or assistant. They should be a revenue producer for you.
I guess I should have been more clear. An increasing percentage of revenues generated, etc. It can't be tied to calendar / annual year, has to be tied to performance. You don't want to give an increase to someone that's not performing just because they have another year...
I'd say you're training someone to leave you when there are firms starting newly licensed Advisors at 60%.
And firms starting salaries at $50-$75k. If this person is going to add value to your practice, run the #s on what you want them doing. Don't be cheap. Licensed Advisors doesn't equal intern or assistant. They should be a revenue producer for you.
When you say commission, is this a percentage of GDC or based on your total payout (I guess that could be the same thing) or some other variable?
I guess I should have been more clear. An increasing percentage of revenues generated, etc. It can't be tied to calendar / annual year, has to be tied to performance. You don't want to give an increase to someone that's not performing just because they have another year...