Independent Rep compensation
Please help…What is the typical compensation for a rep going independent. Whole life, annuities, mutual funds, etc?
[quote=markl]Please help...What is the typical compensation for a rep going independent. Whole life, annuities, mutual funds, etc?[/quote]
Somewhere between 50% and 95% or more, depending on production.
I researched both Raymond James and LPL and for my mix, they both paid out 90%, or in the low 80's with ticket charges. RJ's minimum production appears to be $200,000 and LPL's is $125,000. There are some small bonuses above certain levels and even some 12b-1 sharing in fee-based arrangements.
If you have current production of at least $250,000 and 5 years experience, I'd say either of these two would be an excellent choice. For more information, see Raymond James vs. LPL in "What's Going on at the Firms?"