Joining an RIA as an IAR
Looking for some guidance as to what would be a fair revenue split as a percentage of revenue generated?
Should it be tiered based on different levels of production?
Thanks for the comments.
That helps. I have an offer to join an existing RIA but his first offer was only 30bps of AUM. I currently receive 40bps from my broker dealer but he does have some other incentives that I am not currently receiving. How much does your average associate have under management?
I have people new in the industry with no assets building a book and others with experience with 10-50mm. I also cover all costs for my IARs (health, disability, profit sharing, and no firm or desk fees).
Our fees range from 1-2% so that also has impact on the comp. The higher the fees generated the better their share of firm profits they will earn.
We would be interested in discussing available options for you (and a higher payout). We are an established RIA with over 19 yrs of experience. We are looking for advisors like yourself that have, and want to keep their good relationships without the conflict of interest and allow you to build out your business with lots of support and no pressure.
send over a response and we can talk offline.