Weird Morgan Keegan Payout-Or at least I think it is abnormail-Maybe not?
I joined Morgan Keegan recently and I think it is weird that they determine payout not by trailing 12, but by trailing eleven plus current. So if I have done 25k a month for the last 12 months I am not paid at 40% as a 300k producer but at 37% as a 275k producer. Only complaint against firm.
that should read abnormal-sorry.
do other firms pay on trailing 12 or like Morgan Keegan does using trailing 11 plus current ?
do other firms pay on trailing 12 or like Morgan Keegan does using trailing 11 plus current ?
Worked at MK for 3 years. It was always current + T11. Just get above $500k and you will be at the top at 42% payout. Good company, but compliance sucks (won’t back you and fights with the sales side of the company. They also take a back seat to anything that Regions Management says)
For your consideration, Edward Jones gives a 40% payout regardless of your trailing 12. If you are producing, you will also become eligible for profitability bonuses.
Yeah, but you have to work for Edward Jones.
His name is coveredcall-dude! Jones doesn't do that.
You are right EDJ doesn't do options, but EDJ does give a 40% payout.