LPL or RJ?

or Register to post new content in the forum

10 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jan 23, 2006 1:50 am

5 years in the business w/ EDJ, 21 million AUM, 170K gross in '05... where would you go independent, LPL or RJ???  Please HELP.. anyone... suggestions?????  

Jan 23, 2006 5:53 am

I have yet to talk or see anyone who is unhappy at Ray James.  

Jan 23, 2006 8:33 am

RJ now has a 250k gross min. So you better look at LPL.

Jan 23, 2006 8:42 am

Both great firms - there are some changes unfolding at RJ that are not in the best interest of SOME (not all) of the advisors.  And like EZ said, $250k is their minimum or you'll have to go under an OSJ.

Jan 23, 2006 1:50 pm

JWKSKI


RJ is pretty strickt on the 250k gross min.  I recently looked at them and felt like they would be putting a lot of pressure on those reps who do not hit that number.


I decided to affiliate with LPL.  They have a wonderful platform and great payouts (no real gross min).  Pm if you would like some more info.



Good luck with your independce!

Jan 23, 2006 3:01 pm

Look at a thread I started awhile back..."Raymond James vs. LPL"...lots of good information there.


LPL has a $125K minimum production to get your own OSJ.

Jan 23, 2006 10:27 pm
JWKSKI:

5 years in the business w/ EDJ, 21 million AUM, 170K gross in '05... where would you go independent, LPL or RJ???  Please HELP.. anyone... suggestions?????  



5 yrs in and only 21M AUM and 170 Gross and you are going to move? That's not exactly setting anybody on fire..... I wish you well, probably best suited to LPL due to RJ's 250 Minimum.

Jan 23, 2006 11:36 pm

I agree the numbers are looking a little low based on what I've found so far. I've been looking at Wachovia and am impressed so far. I haven't compared it w/ RJ or LPL yet, so don't know how it would look. Is there a reason people don't talk about Wachovia on here?


Jan 24, 2006 12:05 am

If you are looking for manimum freedom and flexibility, it won't look very good next to RJ & LPL...you'll still be controlled by a bank...not a fun experience for me...

Jan 24, 2006 9:22 am

Wachovia, like RJFS, also has a $250k minimum to be an OSJ for it's indy channel, so of the firms you've mentioned LPL is your only option right now with its $125k minimum.


If you've got another rep you know and respect, you might partner with him/her to get above RJ's $250k minimum.  I think they still just require that the one who'll be acting as the manager has to have a trailing 12 of $150k of the $250k minimum, and you meet that with your $170k.  There'd also be two of you to share overhead.


You might also look at Commonwealth.  I've run across a few of their reps and they seem very happy.