Can anyone provide details on AGE's targets for a new FA? Payout? Salary? Thanks!
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.
4- 3000 ( you start production its 75% of starting pay)
7- 2000 (now is 50% of starting pay)
10- 1000 (now its 25% of starting pay)
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
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.