New LPL owners to change payouts
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I have just caught wind of a change in payouts at LPL will be announced at this years National. I have pretty good confidence in the info and the change, I am curious to see what responses come.
Yeah, don’t drop a turd like that in the room and expect no one to ask who did it…
Yes, I have a the skinny!
They are going to pay the top,top,top producers almost 100% payout. I heard it's a way to keep up with the competition from RAyJay. It's something like 1,000,000 production 95%, 2,000,000 production 96%, 3,000,000 production 97%, over 5,000,000 production 100 %.
Something like that!
[quote=spikedkoolaid]
Yes, I have a the skinny!
They are going to pay the top,top,top producers almost 100% payout. I heard it's a way to keep up with the competition from RAyJay. It's something like 1,000,000 production 95%, 2,000,000 production 96%, 3,000,000 production 97%, over 5,000,000 production 100 %.
Something like that!
Well that settles it, since we all heard it here first on an internet forum...IT MUST BE TRUE!
[/quote]I don't know about keeping up with the RJ comment - LPL for the most part is beyond them already.
From what I heard it's:
91% at 100k (the same as before), 92% 200k, 93% 500k 94% 750K then as spike noted but top line is 98% at 4mill.
To address RegReps concern - it's a rumor at this point I agree as noted in my first comment but we shall see for sure in a couple weeks at the national conf.
[quote=Registered Rep][quote=spikedkoolaid]
Yes, I have a the skinny!
They are going to pay the top,top,top producers almost 100% payout. I heard it's a way to keep up with the competition from RAyJay. It's something like 1,000,000 production 95%, 2,000,000 production 96%, 3,000,000 production 97%, over 5,000,000 production 100 %.
Something like that!
Well that settles it, since we all heard it here first on an internet forum...IT MUST BE TRUE!
[/quote] [/quote]
some people are so cynical.
As you can tell by my post, it was not exact. I’m not Dan Rather, I don’t need to check my facts before I post on forum.
[quote=spikedkoolaid]As you can tell by my post, it was not exact. I'm not Dan Rather, I don't need to check my facts before I post on forum.[/quote]
That's true, and we don't need to read what you have to say if that's your attitude.
I'm "Chet You'Betcha" reporting live.
Well guys -- if this is true, then our friend "GreenHills" should make about eleventy kabillion dollars this year!
Well it is no rumor LPL increased our payouts!
I hope they can keep up with the support staff. That seems to be there weak link if they have one at all!
I cannot imagine working for a 40% to 50% payout!
With the increased payout finally LPL can compete with Edwards and Jones…the best damm firm in the world
[quote=jonesescapee]With the increased payout finally LPL can compete with Edwards and Jones......the best damm firm in the world[/quote]
Maybe now, LPL will have fewer reps defecting to EDJ.
[quote=BrokerRecruit]
[quote=jonesescapee]With the increased payout finally LPL can compete with Edwards and Jones......the best damm firm in the world[/quote]
Maybe now, LPL will have fewer reps defecting to EDJ.
[/quote] yeah, the number of reps leaving indy firms such as Wachovia, RJ, and LPL and going to EDJ are staggering.[quote=BrokerRecruit]
[quote=jonesescapee]With the increased payout finally LPL can compete with Edwards and Jones…the best damm firm in the world[/quote]
Maybe now, LPL will have fewer reps defecting to EDJ.
[/quote]I heard they lost eleventy kabillion reps last year!!
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I'm just back from the LPL conference. Here is the new payout program: (this is a step-through - IE the first 100k @ 90%, 2nd 100k @ 91%, etc...)
$0-$99k=90%, $100k-199K=91%, $200k-$499k=92%, $500k-$750K=93%, $750-$999k=94%, $1mil-$1,99k=95%, $2mil-$2,99k=96%, $3mil-$3,99k=97%, $4mil & up=98%
For a branch manager: (IE based on total branch production, but less any production that received a bonus already per above)
$300k-$499k=91%, $500k-$999k=92%, $1mil-$2.99mil=93%, $3mil-$3.99mil=94%, $4mil-4.99mil=95%, $5mil & up=96%
My main take-aways - they dropped the threshold for the 92% from $250k to $200k, and now have four bonus levels below the $1mil mark. The CEO also announced a cut in fees on their mutual fund wrap, eliminating a small account fee of $10/qtr for accounts under $100k. They cut ticket charges last year - hopefully this will become an annual tradition.
Also, what if you trade accross the board in multiple accounts. For example, lets say you sell GE in 50 accounts using their systems to do the trade in everyones discretionary account all at one time.
Is there a $15 ticket charge times 50 or is there just one $15 charge? I am thinking it is probably $15 x 50 accounts.
zacko & malcolm:
individual stock and bonds - no change on payout
on the 50 accounts - still going to be $15 x 50.