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RJFS Payout

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Jan 25, 2009 12:33 am

egbbfb03

Joined: 2009-01-25Offline

Been thinking about RJFS. Does anyone know anything about the discounting policy for fee-based (passport, etc.) account at Raymond James. Are there “haircuts” if we decide to disount a fee below a certain %. I understand that there are program costs, etc.

  Currently gross around $600k at a wirehouse. Large majority in fee based/c-share funds. Looking at all options. I keep hearing expect a 60-65% payout after expenses. I know depends on alot but is that accurate?     Any other comments/thoughts on RJFS would be appreciated.
Jan 25, 2009 4:12 pm

LuvIndy

Joined: Offline

Fee-based accounts have a flat percentage fee to RJ of .23% I believe. This means if you charge 1.23, you get 1, which equates to an 81% payout. If you charge 1.75 and get 1.42, it’s about the same. If you charge .46, you get .23, so it’s a 50% payout.

The other catch is that the .23 has to be a minimum of $100/year, which reduces your payouts on any account under around $40-45,000.

C shares get a straight 90% of 1%, which in certain circumstances costs the client less and yields more to the adviser.

I can double check the .23 when I’m back in the office Monday, it may be higher than that, like .30 or so.