EDJ to LPL soon . Need Advice Please
I’m seriously considering a move to lpl soon as I am burned out with Jones. The only logical way of doing this is to office with another lpl agent of which I have found. If I’m going to stay in this business , I want to build some equity in myself. I feel like it is a low risk for me , but want advice so I have no regrets. I’m thinking I will also get about 20k in a transition package. I don’t think I’ll transition but around 5 m bc of my short stint at my current location. Will I starve ? I was previously think of leaving the industry ,but have nothing line up. I feel like this could help me get motivated. Anyone have any good scripts or system during this process?
LPL fees are going to eat you alive at that AUM level. Find another B/D - the key is to prospect like crazy and keep those expenses as low as possible.
5 Million is too little to transition. I left EDJ for LPL and agree the costs with being INDY will be too much for you since you won’t have the revenue stream needed to move and still make a decent living.
So here is the deal. The transition assistance is going to be around $26,500. Office expenses will be paid for in the form of and 70/30 over ride with the advisor . Ill still owe roughly 10 to lpl I take it. The advisor that has the office is a large producer and I’m hoping there will be some help from his end. I will be the first person he has brought on . I plan on prospecting like crazy, but do you guys still think its a no go? I feel like having my rent and all office expenses covered will help keep my initial expenses beat down. I plan on taking the lowest route on tech and of course the e/o will be 3k additional. Other than that I feel like the big expenses are out of the way. My projected transition amount will be 6-7 million. Thanks for all the opinions guys. Regardless of what they are, that is exactly what I want.