Need some help please. I am considering a move to Morgan Keegan. Have any of you guys worked for Morgan Keegan or currently work for them? Do you actually get the Regions Bank referrals that they talk about from the business bankers, private bankers, or the branches? Are there any questions that I should ask of my branch manager, before I start? I have been doing this long enough to know that if something looks to good to be true, then it usually is? The deal is 80 to 90 upfront. Plus 5% to 10% of previous rolling 12 backend after five years, if I grow revenue at 5%-10% per year for five years. Trailing 12 500k, AUM 50million, LOS 8 yrs. Thanks for help.
They have been trying to go me to move there also. I “cold called” a few reps from other offices to get the straight story. They told me that they get a little business from the bank, but most of the business is developed on their own. One guy gave me a formula that I found interesting, although I have no idea if it is accurate. He told me to figure on getting $1000 in production for each million in assets at that branch.
Other than that they seem like a fine firm, but I am not going there.