Thinking about joining LPL. Any advice?
I'm thinking about joining LPL. I'm not going to be the General, so my payout is supposed to be 80%. It is a new outfit, with few assets and I should be able to bring about 5mm to the table. My overhead, i'm beign told, will be about $1000 per month. Any thoughts, or things to ponder is greatly appreciated.
My feet hurt,
don't see how you can make it with $5MM, but good luck to you. Assuming you are capable of generating $50K out of that $5MM, keeping 80% ($40K) and paying $12K a year in overhead ... seems like you are making just about $12 an hour. Am I missing something here? Not trying to be snarky at all.
Edje, sounds like you're joining a team. Make sure you have a legal agreement amongst yourselves, as partnerships split up typically at the 50% rate in 24 months. Also, make sure you have a good marketing plan.