I'm a new FA in early stages of production.  Have been approached by top performing FA (inherited book of business) to form a team.

I've been cold calling and have had success undercovering and meeting with close to 15M in assetts in less than a year.  I'm slowing starting to open accounts.  Have no problem cold calling, meeting, obtaining prospects current statements from other firms, etc.  My closing ratio has been tough, but feel that since I'm so new in the business..that will come with more practice and experience.  I'm not a babe, in my 40's.  Have worked in other professions successfully that were commission only.

Have been offered a small percentage (less than 5%) of the top FA's total production to work their inherited existing book of business since they don't have the time.  Furthermore, we would addtionally create a team moving forward that would be split 50/50 of prospects and clients generated from my  cold calling.  I would no longer be working solo.

What I'm reading is that I would basically be paid to work his book without additinal benefit outside an annual % and provide an additional 50/50 split to the FA from my own prospecting. 

Any insight, advice, or recommendations would be greatly appreciated.  I came into this business an independent business owner and enjoy that.  I don't know what to do about working their book and furthermore, though I don't want to split all my uncoverings 50/50, I would not be adverse to the occassional help on certain propects and offer the 50/50 on a case by case scenerio.

Thank you.