A friend of mine was a sales asst at an indy shop(NEXT) and finally figured out he was getting screwed so opened his old office in february, but won't make the minimum production level ($25K by next month-(his year end, as an asst he was covered by the advisor's production), does anyone know of a indy b/d that has low minimums? Or is anyone aware of indy b/ds waiving minimums this year?
Wow, that is really low. I believe that your friend would not even make minimum wage after expenses. At 25K, they would clear 10K which is $5.00 an hour. At Raymond James the production needed is at 250k for a branch office, and 100K minimum to join a branch office. At 100K, my broker would make 40K which is ok. Your friend needs to wake up and smell the coffee, or start serving it.
Boy secretarys tend to not be able to perform like the big boys. Tell him to go to cosmetology school, instead.