Another team question
Okay here is another team formation question. I think I know the answer already but I was looking for some validation from others. Here’s the situation:
Member 1 - 65 with a 40 million dollar book. He had retired from WF about 6 years ago but decided to get back into it and built up a book. He is now looking to retire again in 3-5 years.
Member 2 - 53 and new (not in production yet). Was president of a bank for 15 years before it was taken by FDIC.
Me - late 20s and new (not in production yet).
What we are looking at doing is setting up 3 joint numbers underwhich we would do our business. All would be 70-15-15 split with 70 being whoever brought them in. Then when 65 year old retires, those will become 50/50 between me and the 53 year old with the other two numbers being a 70/30 split. Then when he retires they will all pass over to me.
Yes, I can see you were looking for some input from the other forum because no one answered on here. Crickets....chirp...chirp
I posted both at the same time since net everyone is over at the other forum. But yes this one appears more dead than even I realized.