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Nov 1, 2009 4:36 pm

I am thinking of leaving a bank to join a finet office.  I expect to have production of $10,000 to $20,000 a month.  I am not a partner.  Does anyone have any idea what I can expect for a payout structure? There is no health insurance or benefits.  If anyone works for a finet office please leave your contact info.

Nov 1, 2009 6:50 pm

You can not join a Finet office unless you become a partner from my understanding.

Nov 1, 2009 10:04 pm

and @ $250k min.

Nov 2, 2009 1:31 am

Look for all of this to tighten up next year around 400 t-12

Nov 2, 2009 1:36 am

That's if you opened your own office . Like AGEman said different for outside wells.But for the fc in question , they could join an office if it was a fit. Inside guys have to partner up or go separate.

Nov 2, 2009 8:31 am

As a stand alone FA (that is you receive your own 1099 from Finet) $250k trailing 12 is, I believe, required.

 
However, I am fairly certain you could join the existing Finet office as an employee of that practice and your pay would then come from the practice, not Finet.
 
The potential negative of such an arrangement is that it would be harder to move on someday into your own office.
 
At any rate, call the regional person and get clarification.
Nov 3, 2009 2:58 pm

Does anyone know anybody who has just recently moved from A.G. Edwards to Finet? I was wondering how easy the transition was? I am getting ready to make the move. I am just waiting for my 4front payment. I plan on using it for expenses the first year.

Nov 3, 2009 3:00 pm

Oops Wells Fargo Advisors to Finet. I keep forgetting.