Thinking about joining LPL. Any advice?

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Nov 8, 2010 1:46 pm

I'm thinking about joining LPL.  I'm not going to be the General, so my payout is supposed to be 80%.  It is a new outfit, with few assets and I should be able to bring about 5mm to the table.  My overhead, i'm beign told, will be about $1000 per month.  Any thoughts, or things to ponder is greatly appreciated. 

My feet hurt,

ED

Nov 8, 2010 9:20 pm

Sounds good to me.

Nov 10, 2010 11:10 am

don't see how you can make it with $5MM, but good luck to you. Assuming you are capable of generating $50K out of that $5MM, keeping 80% ($40K) and paying $12K a year in overhead ... seems like you are making just about $12 an hour. Am I missing something here? Not trying to be snarky at all.

Nov 10, 2010 3:36 pm

... duplicate post ...

Nov 10, 2010 2:06 pm

Edje, sounds like you're joining a team. Make sure you have a legal agreement amongst yourselves, as partnerships split up typically at the 50% rate in 24 months. Also, make sure you have a good marketing plan.