[quote=peanutbroker]LPL, RJF, Wachovia...who else? [/quote]

Lots of the independent firms do.

[quote=remotecontrol]

[quote=peanutbroker]LPL, RJF, Wachovia...who else? [/quote]

Lots of the independent firms do.

[/quote]

Yeah, that's real helpful!

Ameriprise might TELL you they'll help you become independent - as a CAPTIVE AGENT of theirs.  Their clients, NOT yours.

LPL, RJ & Commonwealth are mentioned most often.  From what I understand, Wachovia is not a true independent.

Take a look at Ameriprise.  Their independent platform has really undergone some significan changes as a result of the spin form Amex.  Their payouts range from 76%-91% and they offer a level of support not typically found at most idie’s.  Especially marketing support.  Plus, they have a new tecnology platform rolling out this year that is rumored to be incredible. What state are you in?

Payouts at AMP may range from 76-91%, but you will also get hit with compliance costs, franchise fee, etc. that you won't see at other BDs.  The scorecard is also always a moving target.  If you don't run your business the way the company wants you to, you will see that drop.  Other indy BDs won't do that.  Some will even go as far as to contractually state that your clients are yours.  Novel idea!  AMP will not.  They may say they are yours, but try to leave and see what happens.

The platform is sub-par compared to the other independents.  I will admit, I have heard that technology is getting re-vamped. 

They're still hemhorraging reps left and right. 

Look at some of the typical ones - LPL, RJ, Commonwealth, etc., then look at some of the mid-sized ones as well. 

There are a lot of indy reps on the forum that would be willing to discuss their firms, I'm sure.

[quote=Lyle]Take a look at Ameriprise.  Their independent platform has really undergone some significan changes as a result of the spin form Amex.  Their payouts range from 76%-91% and they offer a level of support not typically found at most idie’s.  Especially marketing support.  Plus, they have a new tecnology platform rolling out this year that is rumored to be incredible. What state are you in?[/quote]

I bet Lyle is an IDS/American Express/Ameriprise manager trolling for recruits.  My first clue was his inability to properly spell the word “technology”. 

He has said he was from previous posts.  My question is why would you want the potential of dropping to a 76% payout - anything less than 80% for that matter - in being "truly independent" when the company does nothing for you?  You could go to almost any other indy BD and get at least 85% for better technology, support, lower expenses and a better platform.

Lyle, I was with Ameriprise, and one thing I hated was the BD playing games with my compensation.  Production is production.  Plus, all the friggin required expenses added up to about 10 grand a year, plus you are required to pay for other expenses like a certain quality of office space.  Plus, lots of other rediculous compliance burdens. 

Their top indy producer was doing about a half million a year, compared to in my small town a EJ rep doing 600k a year.

I added it up and left.

Ace

[quote=BrokerRecruit]

Payouts at AMP may range from 76-91%, but you will also get hit with compliance costs, franchise fee, etc. that you won't see at other BDs.  The scorecard is also always a moving target.  If you don't run your business the way the company wants you to, you will see that drop.  Other indy BDs won't do that.  Some will even go as far as to contractually state that your clients are yours.  Novel idea!  AMP will not.  They may say they are yours, but try to leave and see what happens.

The platform is sub-par compared to the other independents.  I will admit, I have heard that technology is getting re-vamped. 

They're still hemhorraging reps left and right. 

Look at some of the typical ones - LPL, RJ, Commonwealth, etc., then look at some of the mid-sized ones as well. 

There are a lot of indy reps on the forum that would be willing to discuss their firms, I'm sure.

[/quote]

The scorecard has also been revamped.  The two drivers are now total production (including fees and trails) and AUM.  Much easier to navigate.  Additional "bump ups" are also offered on a tiered basis for number of plans and new clients acquired.  Essentially, the top payout is at 94%.  Plus, the platform is expanding all the time.  And the marketing support is fantastic.  It is easy to bash a B/D - plus, it is just plain fun!  But the spin has served Ameriprise well.  Let's talk in 12 months - I think you'll be impressed with the overall offering.

Oh - plus - take a look at the Associate Advisor role for placing those under-producing reps currently getting chewed up at AG Edwards and Smith Barney.  AFA is a great opportunity for those reps to earn 40-60% payouts with no expenses.  Think about it - where else can you place reps with 125K in production.

I'm not trying to bash AMP.  And most indy BDs (with the exception of RJ) will take reps doing $100k, even $50k+.  I've placed several AMP reps that are doing $75-200k. 

What marketing support do they provide (out of curiosity)?  I've only seen the commercials.

How many reps are going to be at 94%?  Many of those that acquired the 91% achieved it only to find that too many had gotten to that level and they readjusted, knocking them down a peg - frankly, I would want to know that the breakpoints are ironclad and not based on multiple variables.  I do think, though, that they are doing a good thing by basing it more on GDC.

What do you think they'll do with the large groups that are looking at leaving?  Do you think the company has backed down a little on the legal standpoint?  Even some reps who followed their contract exactly were sued and had TROs thrown at them for leaving, even though they didn't do anything wrong.  Are you seeing any of the same activities?

[quote=BrokerRecruit]

I'm not trying to bash AMP.  And most indy BDs (with the exception of RJ) will take reps doing $100k, even $50k+.  I've placed several AMP reps that are doing $75-200k. 

What marketing support do they provide (out of curiosity)?  I've only seen the commercials.

How many reps are going to be at 94%?  Many of those that acquired the 91% achieved it only to find that too many had gotten to that level and they readjusted, knocking them down a peg - frankly, I would want to know that the breakpoints are ironclad and not based on multiple variables.  I do think, though, that they are doing a good thing by basing it more on GDC.

What do you think they'll do with the large groups that are looking at leaving?  Do you think the company has backed down a little on the legal standpoint?  Even some reps who followed their contract exactly were sued and had TROs thrown at them for leaving, even though they didn't do anything wrong.  Are you seeing any of the same activities?

[/quote]

I am not familiar with the large groups you are referring to.  However, my market group has been running at a 93% retention rate.

As for marketing - there is LOT going on.  The firm has several co-op programs running now.  Advertising is subject to up to $4000 in re-imbursement.  AMP makes several automated ads available for print, radio, tv - even billboards.  There is also re-imbursement for client / bring-a-friend events.  (The re-imbursement only applies to prospects - not clients)  My market group is running a dozen or so turn key mega events, and many advisors also run smaller events.  Again - with direction and $$ support from local and national leaders.  Do other idies offer this?

Most advisors run at 86% payout.  Yes, not quite as high as some indies, but the support is there....so it really is a choice.

Message me if you would like more info - I'm really impressed with the direction.  The next 12 months are going to mean a lot.

Yes, in fact - there are many independent BDs that will offer marketing support and/or reimbursement.  They will also offer partnerships with OUTSIDE wholesalers and can oftentimes contractually negotiate a marketing budget for the rep upon signing on. 

Lyle, talk about proprietary products and captive books.  Talk about the compliance/no business department.  I know the employee advisors couldn't offer a Genworth Variable Annuity, but can the franchisee?  And why insist that every compliance person be paid the exact same compliance fee, whether you're in middle america or New York? 

If you invert the first and last half of the word "Ameriprise," you get "PriseAmerica", which has a similar look to "Primerica."  Just an annoying comparison.

And to get that marketing support, you have to be making how much again?  Why not just go to the indy firm you own called Securities America, and get a 97% payout.  Hmmm?

Ace

[quote=Ace Planner]

Lyle, talk about proprietary products and captive books.  Talk about the compliance/no business department.  I know the employee advisors couldn't offer a Genworth Variable Annuity, but can the franchisee?  And why insist that every compliance person be paid the exact same compliance fee, whether you're in middle america or New York? 

If you invert the first and last half of the word "Ameriprise," you get "PriseAmerica", which has a similar look to "Primerica."  Just an annoying comparison.

And to get that marketing support, you have to be making how much again?  Why not just go to the indy firm you own called Securities America, and get a 97% payout.  Hmmm?

Ace

[/quote]

Go right ahead Ace!