A.G. Edwards

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Sep 13, 2005 3:30 pm

Can anyone provide details on AGE's targets for a new FA?  Payout?  Salary?  Thanks!

Sep 13, 2005 6:17 pm

AG Edwards


Payout is right about 40%


Salary for a new FA or in their words Financial Consultant is:


Usually 2-3 months study time for your licenses and the drops each quarter after starting production. example


You agree on $4000 a month.


Month


1- 4000


2- 4000


3- 4000


4- 3000 ( you start production its 75% of starting pay)


5- 3000


6- 3000


7- 2000 (now is 50% of starting pay)


8- 2000


9- 2000


10- 1000 (now its 25% of starting pay)


11- 1000


12- 1000


Month 13 you are straight commission/fee base.


As far as Targets .


You are okay with 3mil in 12 months and a hero/god with 5-7 mil.


Its a good Company.  St. Louis home office is outstanding.  Its the next best thing to Merrill Lynch and SB

Sep 13, 2005 6:40 pm

AGE changed their rookie payout structure earlier this year. I'm not certain about all the details since I'm not a rookie but it goes something like this:


Now they pay the agreed upon starting salary for a decent period of time (like 9 months) then it drops to 75%. 


From there it drops by 25% each quarter until the 2nd year anniversary where you will be on 100% commission (40% payout)


There are bonus incentives the first year and an enhanced payout of 55% but I don't know how long they pay you that.


Like I said it goes something like this but you can get the details on the details on their website.