Ratio of Sales Assistant to broker
What should I expect from a wirehouse in terms of Sales Support. Should I ever expect the firm to give me my own Sales assistant? I’m tracking about 700,000 a year with 80MM in assets.
It seems to be a practice at my office that many brokers doing 1mm have to share. It just doesn't make sense that one would have to share when you hit those types of numbers. How about Merrill, SB? Any brokers out there from the big two that want to comment? I feel that this might be a local issue in my office only.
Allot of places I’ve seen set the bar at 1mil to get one’s own assistant although I know of many brokers under that # that pay out their own pocket to hire a licensed assistant they feel can bring value to their practice.
[quote=johnyd]SB you normally need 1mil to 1.2 or so to get own assistant.[/quote]
ML- ave 1.2 to 1.5 mil productiontion per assistant. Can your own
assistant add an increase to your production now? If so, pay for
part yourself, you will get there faster.
If you’re not wedded to the wirehouse environment and SA support is important, check on the major regionals. For example, Raymond James is at about $700k for your own SA.
I thought RJ was independant? You have to gross 700k for an asistant? Is that in a different program?
[quote=Guest1]I thought RJ was independant? You have to gross 700k for an asistant? Is that in a different program?[/quote]
Boy isn't it great when a member of the "world best sales force" knows his competition?
RJ has numerous revenue streams of which include an indy side and a traditional branch structure.