Your Real Net Payout not Gross

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Jan 7, 2010 2:00 pm

Just finished my 2009 book keeping and happy with a good year.  Not a great year, but a good one.  Grew assets by 17 million and fee based revenues by 23%.

 
But after all the "overides" "expenses" all the crap (not your gross, but your paycheck)  What are you all taking home?
 
Still making more than at the wire as an indy.  but it sure adds up
Corporate overide
Branch overide
Corporate expenses
Rent
Office Expenses
Office salaries
. . .hmmmmmm  which company has the best deal out there?
Jan 7, 2010 2:12 pm

Jones.

Jan 7, 2010 2:26 pm

I net out 65%, but I don't have any company expenses-everything is covered (everything, we do not have one single haircut, fee etc)....

Jan 7, 2010 9:11 pm
shantom1:

I net out 65%, but I don't have any company expenses-everything is covered (everything, we do not have one single haircut, fee etc)....



After you pay for your office? Or are you working from your house

Jan 7, 2010 9:16 pm

I do not have to pay for the office/assistant/expense account, the firm does out of the 35% they keep (which puts me on par with an indy)...

Jan 7, 2010 9:17 pm
vbrainy:

Just finished my 2009 book keeping and happy with a good year. Not a great year, but a good one. Grew assets by 17 million and fee based revenues by 23%.



But after all the "overides" "expenses" all the crap (not your gross, but your paycheck) What are you all taking home?



Still making more than at the wire as an indy. but it sure adds up

Corporate overide

Branch overide

Corporate expenses

Rent

Office Expenses

Office salaries

. . .hmmmmmm which company has the best deal out there?





I just noticed, you started the post but never said your net %....

Jan 7, 2010 10:05 pm

We clear through NFS. I would rather not mention my BD. We are classified by most wholesalers as an indy shop but I am W2'd w/benefits. It is quite a good program. Took one hell of a gamble a few years ago and it paid off.



I don't get the comments about how much assets I have or whatever. In NY my book is not big, seriously. I know bank reps in local branches here who manage more. It might be more than the average rep in other areas but it does not go as far in NY...

Jan 7, 2010 10:06 pm

BTW, mlgone- LOVE the avatar....

Jan 8, 2010 12:51 am
shantom1:

BTW, mlgone- LOVE the avatar....



 
Yeah, the avatar is fine, but the signature line is childish.  If Spiff wants to profess his Christianity, I respect that.  You don't have to agree with him, but using your signature line to belittle him is just plain childish.  You're not the first to do this, and singling you out is unfair, so I'll say more generally that using your signature line to belittle or make fun of another participant (at least legitimate participants - I'll give you a pass on trolls) is getting old.  I'm not sure who started this trend, but I'm ready to see it stop.
Jan 8, 2010 12:53 am

...and to get back on topic, my payout as a tenant indy was running 68%.  I'll let you know what it is for 2010 as the owner of my own office, but you'll have to wait a bit for that number.

Jan 8, 2010 9:52 am

I pay my reps that work out of the office 75%. They have to pay for their registration fees and E&O. We split marketing 50/50.

Jan 8, 2010 10:15 am

I run a 70% net shop with LPL. I have two part-time assistants one of whom is my wife. That number by the way is after everything...it is net net before personal taxes. 

Jan 8, 2010 10:26 am
BigCheese:

I run a 70% net shop with LPL. I have two part-time assistants one of whom is my wife. That number by the way is after everything...it is net net before personal taxes. 

 
BC, what coverage do you have for hours?  9-5 split between the two?  8-4?  Everyday?
My BOA only work about 30 hours a week, and I rarely get an on-call to cover her.  It works because we have two FA's in my office, so we can generally answer all the calls when she's out.
Jan 8, 2010 10:42 am

8:30-4 Mon-Thurs and Friday 8:30 to 1.

 
Fridays clients have been trained that we tend to leave early (I usually leave at 3-3:30)and its amazing they think its great and its almost always slow.
 
It works out to about 35 hrs a week between the two. As we speak its less because we had a XMAS suprise. Our office was flooded out and we haven't been able to work out of the office for two weeks while repairs are happening. Fortunately I was insured and business overhead and contents are covered. My production though has suffered. Not the way I wanted to start out the new year.
 
By the way...with my current experience it has been very easy to say to clients and prospects...You insure your car, your home, your business, why would you not insure your most precious asset when you retire...YOUR INCOME!!
 
It's got people thinking...
Jan 8, 2010 10:47 am
shantom1:
vbrainy:

Just finished my 2009 book keeping and happy with a good year.  Not a great year, but a good one.  Grew assets by 17 million and fee based revenues by 23%.

 

But after all the "overides" "expenses" all the crap (not your gross, but your paycheck)  What are you all taking home?

 

Still making more than at the wire as an indy.  but it sure adds up

Corporate overide

Branch overide

Corporate expenses

Rent

Office Expenses

Office salaries

. . .hmmmmmm  which company has the best deal out there?



I just noticed, you started the post but never said your net %....


last year 60%
Jan 8, 2010 10:49 am
BigCheese:

I run a 70% net shop with LPL. I have two part-time assistants one of whom is my wife. That number by the way is after everything...it is net net before personal taxes. 


Nice
Jan 8, 2010 11:52 am
Indyone:
shantom1:

BTW, mlgone- LOVE the avatar....



 
Yeah, the avatar is fine, but the signature line is childish.  If Spiff wants to profess his Christianity, I respect that.  You don't have to agree with him, but using your signature line to belittle him is just plain childish.  You're not the first to do this, and singling you out is unfair, so I'll say more generally that using your signature line to belittle or make fun of another participant (at least legitimate participants - I'll give you a pass on trolls) is getting old.  I'm not sure who started this trend, but I'm ready to see it stop.
 

Thanks for your input on the maturity of the forum. I don't get involved in many spitting contests b/c this is the internet.
I will tell you that the thread where ml got the quote from was the most insane thing I have ever seen. I think MlGONE throwing it in Spiff's face is more than appropriate given that Spiff had just stamped his name on the most non christian "My God is right" kind of talk. It was sad to see from someone who thinks they are religious.
 
It was so ridiculous that I don't read his posts AT ALL.
Jan 9, 2010 12:11 am

Left a wire 1 year ago, was a miserable place after 16 years of hard work, they really don't give a rats a$$ about anyone except the big brokers and executives.

Went to a very small regional of sorts, they pay for pretty much everything the wires did, no pressure no underlying agendas, my payout after last year averaged 68%. The thing I can tell you is that my take home was more than double what it would have been at any wire with the same production.

Most client followed, and I'm getting referals and more new business that I ever did at a wire.

Jan 9, 2010 10:15 am
mlgone:
Indyone:
shantom1:

BTW, mlgone- LOVE the avatar....





 

Yeah, the avatar is fine, but the signature line is childish.  If Spiff wants to profess his Christianity, I respect that.  You don't have to agree with him, but using your signature line to belittle him is just plain childish.  You're not the first to do this, and singling you out is unfair, so I'll say more generally that using your signature line to belittle or make fun of another participant (at least legitimate participants - I'll give you a pass on trolls) is getting old.  I'm not sure who started this trend, but I'm ready to see it stop.







the guy is a self admitted freak and hopefully I am helping him???? I respect your opinion but I make my own choices.......He chose to admit this racist thoughts about gay people and I want to remind him everyday of what he thinks he is and the rest of us who know what he is........



If Spiff wants to profess his Christianity, I respect that." .......So do I but his way was to call 'Gay's Creepy". I took offense to that.





Thanks Godfather.........I get your opinion........BUT I got my own.   That sh*t is just backward. Read the tagline.



ml - you know I got your back on most things... but I do have to say that comments on gay people aren't really considered racist.

Jan 9, 2010 10:36 am
Moraen:
mlgone:
Indyone:
shantom1:

BTW, mlgone- LOVE the avatar....





 

Yeah, the avatar is fine, but the signature line is childish.  If Spiff wants to profess his Christianity, I respect that.  You don't have to agree with him, but using your signature line to belittle him is just plain childish.  You're not the first to do this, and singling you out is unfair, so I'll say more generally that using your signature line to belittle or make fun of another participant (at least legitimate participants - I'll give you a pass on trolls) is getting old.  I'm not sure who started this trend, but I'm ready to see it stop.




the guy is a self admitted freak and hopefully I am helping him???? I respect your opinion but I make my own choices.......He chose to admit this racist thoughts about gay people and I want to remind him everyday of what he thinks he is and the rest of us who know what he is........

If Spiff wants to profess his Christianity, I respect that." .......So do I but his way was to call 'Gay's Creepy". I took offense to that.


Thanks Godfather.........I get your opinion........BUT I got my own.   That sh*t is just backward. Read the tagline.



ml - you know I got your back on most things... but I do have to say that comments on gay people aren't really considered racist.

Morean, aren't you the self professed monitor of this forum who wants everyone to stick to the topic?  Why don't you walk your own talk???  Do as I say and not as I do???  Your post has nothing to do with the topic.
. . .or maybe you are not even in production and you don't have a net payout?