Financial Advisors

What are your thoughts on the new 2018 Merrill comp plan? No more bonuses with SGA going away. 3HH requirement to avoid grid reduction. I️ have too many households now! I️ only want $1mm+!

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At best your cash comp stays even. With SGA 1% going away and the shift of another 1% from cash grid to deferred comp, you can only make up that 2% with 5+ gross $250k+ HHs and 5% net growth of your A/L. It will result in a pay cut for the vast majority of ML FAs, particularly those who by choice have limited themselves to only adding much larger new HHs. Bank of America wants more buying units for their high margin bank offerings so HH size is irrelevant to the parent company - banking is about numbers and scale while wealth management is about deeper relationships and personalized service. This culture clash will only get messier with time.

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The future of WM is changing forever. Look at the Schwab/Vanguard models (& the WFC Robo rollout) and ask yourself what are you doing sitting there? Control your Future; Go Indie RIA!

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Sorry bud, ill change it up just for you! Get Happy; Go Indie!

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I have a lot of family accounts so....

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Come to the dark side...go Indy.

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Absolutely correct, why give 60% of your production back to the house when they do nothing (In fact work against you) to help you build/grow. There are so many great options available, but by far the worst option is staying a slave to MER. Control your Future; Go Indie RIA!

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I'm all for RIAs but this guy comment in the same thing on every post is starting to get really annoying^. I didn't know that fishbowl had a signature feature.

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Multiple choices, stay and slow boil and then fade away. Go Indie RIA, grow, flourish, do the right thing for your client, your family and yourself! Control Your Future; Go Indie RIA!

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🖕what he said!

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