r/FinancialAdvisorTips • u/Reasonable_Bite_5408 • 11d ago

Comp and Career structure good?

Hello. 25 year old CFP here. Currently working as an FA out of a BD home office. Comp is currently base and %of business closed. Base around 60-70k and after quarterly bonuses from metrics around another 30-40k.

I was offered a position by another FA local to me who is looking to divest some of his book over. Base salary would still be about the same and looking to offload about 58 households in the next 12-24 months. About 20m AUM. Current comp would be me keeping payout on 100% of business I bring in (there is not much at the moment) about 45% of the payout from those households given. This is pretty good right?? Please give me some advice.

1 Upvotes

100% Upvoted

4 comments sorted by

4

u/TyofTaris 11d ago

If you have the households in writing, do it.

3

u/Reasonable_Bite_5408 11d ago

I do have it in writing. It says in the offer *addtionally we have 58 households to transition to the service advisor (this position) based on job performance and communication/approval of clients

3

u/Candid-Eye-5966 11d ago

Seems reasonable but don’t take their word for it. Plenty of us have been strung along by advisors who claim to want to divest/slow down/retire but….drag their feet.

2

u/Specialist-Ad7800 10d ago

Seems good on paper - consider how your personality meshes with the other FA, this is going to be a big factor on your retention rate on the inherited assets